How optimal are the extremes?: Latin American exchange rate policies during the Asian crisis

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/EC 93(10/2003)
cepal.callNumberLC/L.1824-P
cepal.docTypeSeries
cepal.idSade12217
cepal.jobNumberS0212088 E
cepal.physicalDescriptiondiagramas, tablas
cepal.projectProject on Capital Flows to Emerging Markets since the Asian Crisis
cepal.regionalOfficeSantiago
cepal.saleNumber03.II.G.29
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngINFLATION
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.topicSpaINFLACIƓN
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngSTATISTICS
cepal.workareaSpaDESARROLLO ECONƓMICO
cepal.workareaSpaESTADƍSTICAS
dc.contributor.authorFfrench-Davis, Ricardo
dc.contributor.authorLarraĆ­n, Guillermo
dc.contributor.entityNU. CEPAL
dc.contributor.entityUNU. World Institute for Development Economics Research
dc.coverage.spatialEngARGENTINA
dc.coverage.spatialEngCHILE
dc.coverage.spatialEngMEXICO
dc.coverage.spatialSpaARGENTINA
dc.coverage.spatialSpaCHILE
dc.coverage.spatialSpaMEXICO
dc.date.accessioned2014-01-02T16:52:02Z
dc.date.available2014-01-02T16:52:02Z
dc.date.issued2003-03
dc.descriptionIncludes bibliography
dc.description.abstractAbstract During the Asian crisis, intermediate exchange rate regimes vanished. It has been argued that those regimes were no longer useful and only the extremes remained valid. The paper analyses three foreign exchange regimes: Argentina (pegged), Chile (band) and Mexico (float). The Argentinean currency board delivered low financial volatility while it was credible, but even then it displayed high real volatility. Mexican float performed well in periods of instability isolating the real sector. The Chilean band delivered a mixed outcome as compared to Argentina and Mexico. This is linked apparently to a loss in bands credibility, associated to policy mismanagement and an over-appreciation in the biennium before the crisis. Optimal exchange rate regimes vary across time and the conjuncture. Exit strategies are part of the election of the optimal system, including a flexible policy package rather than a single rigid policy tool.
dc.formatTexto
dc.format.extent34 pƔginas.
dc.format.mimetypeapplication/pdf
dc.identifier.isbn9211213975
dc.identifier.unSymbolLC/L.1824-P
dc.identifier.urihttps://hdl.handle.net/11362/7801
dc.language.isoeng
dc.physicalDescription34 p. : diagrs., tabls.
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesSerie Informes y Estudios Especiales
dc.relation.isPartOfSeriesNo10
dc.rights.coarDisponible
dc.subject.unbisEngFOREIGN EXCHANGE RATES
dc.subject.unbisEngMONETARY POLICY
dc.subject.unbisEngMONETARY SYSTEMS
dc.subject.unbisEngFINANCIAL RESOURCES
dc.subject.unbisSpaPOLITICA MONETARIA
dc.subject.unbisSpaTIPOS DE CAMBIO
dc.subject.unbisSpaSISTEMAS MONETARIOS
dc.subject.unbisSpaRECURSOS FINANCIEROS
dc.titleHow optimal are the extremes?: Latin American exchange rate policies during the Asian crisis
dc.type.coarlibro
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