Argentine convertibility: is it a relevant precedent for the dollarization process in Ecuador?

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/ES 45(15/2001)
cepal.callNumberLC/L.1559-P
cepal.cityOfEventQuito
cepal.dateOfEvent22-23 March 2001
cepal.divisionEngStatistics Division
cepal.divisionOldDivisión de Estadística y Proyecciones Económicas
cepal.divisionSpaDivisión de Estadísticas
cepal.docTypeSeries
cepal.eventSeminar on the Role of the Central Bank under Dollarization
cepal.idSade7455
cepal.jobNumberS01070561 E
cepal.physicalDescriptiondiagramas, tablas
cepal.regionalOfficeSantiago
cepal.saleNumber01.II.G.104
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngPRICES
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.topicSpaPRECIOS
cepal.workareaEngSTATISTICS
cepal.workareaSpaESTADÍSTICAS
dc.contributor.authorCalcagno, Alfredo Fernando
dc.contributor.authorManuelito, Sandra
dc.contributor.entityNU. CEPAL. División de Estadística y Proyecciones Económicas
dc.coverage.spatialEngARGENTINA
dc.coverage.spatialEngECUADOR
dc.coverage.spatialSpaARGENTINA
dc.coverage.spatialSpaECUADOR
dc.date.accessioned2014-01-02T15:32:54Z
dc.date.available2014-01-02T15:32:54Z
dc.date.issued2001-07
dc.descriptionIncludes bibliography
dc.description.abstract(*) Alfredo Calcagno and Sandra Manuelito, are Economic Affairs Officers with the Economic Projections Centre of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). Paper presented at the Seminar on the 'role of Central Bank Under-Dollarization', organized by the Central Bank of Ecuador, Quito, 22 and 23 March, 2001. The views expressed in this document, which has been reproduced without formal editing, are those of the authors and do not necessarily reflect the views of the Organization. Summary Latin America has had a great deal of experience with anti-inflationary policies based on different types of exchange-rate 'anchors'. However, the Argentine convertibility as well as dollarization in Ecuador go further in this direction, adopting a very strict monetary rule in the first case (which would bring additional strength and credibility to the peg), and giving up the emission of its own currency, in the second. The economic effects of these 'Hard peg' regimes go well beyond the (more or less successful) control of inflation, since they have major consequences on the functioning of the economy in the medium and long run. This document aims at identifying the effects that the convertibility system has had on Argentine economy, especially on growth (both its rate and its instability), on the balance of payments and the foreign indebtedness, on the structure of relative prices, and on the functioning of the banking system. For each of these aspects, the extension to which Argentine experience is relevant to the Ecuadorian dollarization process is evaluated. In particular, the risks and imbalances that might arise in Ecuador are highlighted, as is the role that the economic policy, and particularly the Central Bank of Ecuador, might have to prevent or to cope with them. Contents: - Introduction - Economic activity and the external sector - Relative prices - The working of the banking system - Final remarks
dc.formatTexto
dc.format.extent40 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.isbn9211213126
dc.identifier.unSymbolLC/L.1559-P
dc.identifier.urihttps://hdl.handle.net/11362/4714
dc.language.isoeng
dc.physicalDescription40 p. : diagrs., tabls.
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesSerie Estudios Estadísticos y Prospectivos
dc.relation.isPartOfSeriesNo15
dc.rights.coarDisponible
dc.subject.unbisEngCENTRAL BANKS
dc.subject.unbisEngDOLLAR
dc.subject.unbisEngMONETARY POLICY
dc.subject.unbisEngMONETARY SYSTEMS
dc.subject.unbisEngFINANCIAL RESOURCES
dc.subject.unbisSpaBANCOS CENTRALES
dc.subject.unbisSpaDOLAR
dc.subject.unbisSpaPOLITICA MONETARIA
dc.subject.unbisSpaSISTEMAS MONETARIOS
dc.subject.unbisSpaRECURSOS FINANCIEROS
dc.titleArgentine convertibility: is it a relevant precedent for the dollarization process in Ecuador?
dc.type.coarlibro
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