The experiences of dollarization in countries with weak economies and currencies (such as Israel in the 1980s, Eastern Europe and countries in the period immediately after the collapse of the Soviet bloc, or Ecuador throughout the late 20th and early 21st century) may be seen as Gresham's law operating in its reverse form (Guidotti & Rodriguez, 1992) because in general, the dollar has not been legal tender in such situations, and in some cases, its use has been illegal.
The experiences of dollarization in countries with weak economies and currencies (such as Israel in the 1980s Eastern Europe and countries in the period immediately after the collapse of the Soviet bloc or Ecuador throughout the late 20th and early 21st century) may be seen as Gresham's law operating in its reverse form (Guidotti & Rodriguez 1992) because in general the dollar has not been legal tender in such situations and in some cases its use has been illegal