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 271
... inflows to Latin American countries quadrupled from an average annual rate below US $ 11 billion during 1985-1989 to more than US $ 60 billion in 1992-1994 . The inflows were not restricted to Latin America . Net capital inflows to Asia ...
... inflows to Latin American countries quadrupled from an average annual rate below US $ 11 billion during 1985-1989 to more than US $ 60 billion in 1992-1994 . The inflows were not restricted to Latin America . Net capital inflows to Asia ...
Page 274
... inflows , and attempts to limit inflows that are likely to be reversed , have induced the monetary authorities to engage in certain ' back - up ' interventionist policies . These activities have taken the form of direct intervention ...
... inflows , and attempts to limit inflows that are likely to be reversed , have induced the monetary authorities to engage in certain ' back - up ' interventionist policies . These activities have taken the form of direct intervention ...
Page 309
... inflows have been absorbed in the form of foreign- reserve increases . To avoid the effect on the monetary expansion of these inflows the monetary authorities have been engaged in sterilisation processes , but these tend to entail ...
... inflows have been absorbed in the form of foreign- reserve increases . To avoid the effect on the monetary expansion of these inflows the monetary authorities have been engaged in sterilisation processes , but these tend to entail ...
Contents
Origins and Functioning of Modern ExchangeRate Regimes | 8 |
Systemic Asymmetries Inherent in the International | 59 |
Revisiting the Rules | 96 |
Copyright | |
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Common terms and phrases
According analysis Argentina argued argument balance of payments Banco band behaviour Bordo Brazil Brazilian Bretton Woods system Calvo capital inflows central bank changes Chapter Chile credibility crises currency board debt deficit devaluation developing countries discretionary discussion disinflation dollar domestic currency economists economy effects Eichengreen equilibrium ERBSP exchange-rate arrangements exchange-rate policy exchange-rate regimes exchange-rate-based expectations experience exports external Figure fiscal policy fixed exchange rate fixed exchange-rate flexibility floating exchange rates flows fluctuations foreign reserves fundamentals global gold standard growth ibid implemented important increase inflation rates interest rates International Monetary Fund international monetary system investment issue Keynes Krugman Latin American countries liquidity long-run macroeconomic markets MERCOSUR Mexico monetary authorities monetary base monetary policy money supply neutral nominal anchor non-neutral overvaluation parity percent period peso policymakers Post Keynesian problem real exchange rate rules sector shocks short-run speculative attacks stabilisation programmes stability sterilisation target 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 |