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From Hard-Peg to Hard Landing? Recent Experiences of Argentina and Ecuador

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Based on an analysis of the Argentinean currency board and the full dollarization scheme in Ecuador, this paper argues that an intermediate exchange rate regime is a better option for countries trying to implement monetary structural adjustment policy. The study highlights some of the negative effects, i.e. rising prices and high inflation faced by these economies as they attempted new economic policies, mainly as a result of external financial shocks and the worldwide export and import structure. It goes on to examine some of the external factors that impact economic policy and in conclusion provides a full summary of the monetary adjustment plans implemented by the two countries.
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Details:

Agency/Department
UN/Economic Commission for Latin America and the Caribbean
Print ISBN
9789211213911
Print Publication Date
Page Count
44
Print Sales Number
03.II.G.17
Series Title
Financiamiento del Desarrollo

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