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How Optimal Are the Extremes? Latin American Exchange Rate Policies during the Asian Crisis

  • Author: UN, ECLAC
  • Publication date: July 2003
  • Page count: 40
  • Language(s) in this book: English
  • Sales number: 03.II.G.29

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About the product

This paper examines the foreign exchange systems adopted by Argentina, Chile and Mexico during the Asian crisis, a time when intermediate exchange rate regimes proved to be ineffective and ceased to be used. Argentina opted for a pegged foreign exchange system, Chile for a band exchange system, and Mexico implemented a float exchange system. The paper evaluates how the different exchange rate systems had an impact on financial stability and the productive sectors in the countries.