Modern Exchange-rate Regimes, Stabilisation Programmes and Co-ordination of Macroeconomic Policies: Recent Experiences of Selected Developing Latin American EconomiesThis work analyzes the phenomenon of macroeconomic adjustment, with special emphasis on selected Latin American countries facing stabilization programmes. It provides a historical description of the origins, functioning and collapse of exchange-rate regimes from the international classical gold standard period to modern arrangements. The author supports the argument that systemic asymmetries in the worldwide adjustment mechanism are inherent in the international monetary system. |
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Page 71
... Brazilian exports in 1880s were of coffee with the residual accounting mainly for sugar and rubber . But the core of the Brazilian economy was coffee , produced on plantations . Coffee is a permanent culture and coffee trees have a long ...
... Brazilian exports in 1880s were of coffee with the residual accounting mainly for sugar and rubber . But the core of the Brazilian economy was coffee , produced on plantations . Coffee is a permanent culture and coffee trees have a long ...
Page 72
... Brazilian goods such that by the 1910s the US market share was around 35 percent while Britain's was only 15 percent . This trend continued in the 1920s as the US ' share approached 50 percent and the British's fell below 5 percent ...
... Brazilian goods such that by the 1910s the US market share was around 35 percent while Britain's was only 15 percent . This trend continued in the 1920s as the US ' share approached 50 percent and the British's fell below 5 percent ...
Page 299
... Brazilian monetary policy is geared towards domestic price stabilisation rather than to domestic growth . The tightness of money supply implemented by the Brazilian sterilisation policy introduces a downward pressure on the exchange ...
... Brazilian monetary policy is geared towards domestic price stabilisation rather than to domestic growth . The tightness of money supply implemented by the Brazilian sterilisation policy introduces a downward pressure on the exchange ...
Contents
Introduction | 1 |
Origins and Functioning of Modern ExchangeRate Regimes | 51 |
Systemic Asymmetries Inherent in the International | 59 |
Copyright | |
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Common terms and phrases
adjustment analysis Argentina argues argument assets Author's elaboration balance of payments band behaviour Brazil Brazilian Bretton Woods Bretton Woods system Calvo capital inflows capital mobility central bank Chapter Chile credibility crises currency boards debt deficit devaluation developing countries discretionary discussion disinflation dollar domestic currency economy effects Eichengreen equilibrium ERBSP exchange-rate arrangements exchange-rate regimes exchange-rate-based expectations experience exports external shocks Figure fixed exchange rate fixed exchange-rate flexibility floating exchange rates flows fluctuations foreign capital foreign reserves fundamentals global globalisation gold standard growth ibid implemented important increase inflation rate integration interest rates international monetary investment issue Krugman Latin American countries liberalisation long-run macroeconomic MERCOSUR Mexican crisis Mexico monetary authorities monetary base monetary policy Monetary System money supply nominal anchor overvaluation parity percent period peso policymakers problem real exchange rate rules sector short-run speculative attacks stabilisation policies stabilisation programmes stability sterilisation target target bands theorists volatility
References to this book
Vietnam's Economic Transition: Policies, Issues and Prospects Thi Nhiem Phan,Charles Harvie,Van Hoa Tran No preview available - 2006 |