Andean exchange-rate regimes, 1994-2003: a brief for "stable but flexible" regimes

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/EC 65(34/2005)
cepal.callNumberLC/L.2237-P
cepal.divisionEngEconomic Development Division
cepal.divisionSpaDivisión de Desarrollo Económico
cepal.docTypeSeries
cepal.idSade22009
cepal.jobNumberS0412976 E
cepal.physicalDescriptiongráficos, tablas
cepal.regionalOfficeSantiago
cepal.saleNumber04.II.G.157
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngSTATISTICS
cepal.workareaSpaESTADÍSTICAS
dc.contributor.authorBeckerman, Paul
dc.contributor.entityNU. CEPAL. División de Desarrollo Económico
dc.coverage.spatialEngANDEAN REGION
dc.coverage.spatialEngBOLIVIA (PLURINATIONAL STATE OF)
dc.coverage.spatialEngCOLOMBIA
dc.coverage.spatialEngECUADOR
dc.coverage.spatialEngPERU
dc.coverage.spatialEngVENEZUELA (BOLIVARIAN REPUBLIC OF)
dc.coverage.spatialSpaBOLIVIA (ESTADO PLURINACIONAL DE)
dc.coverage.spatialSpaCOLOMBIA
dc.coverage.spatialSpaECUADOR
dc.coverage.spatialSpaPERU
dc.coverage.spatialSpaREGION ANDINA
dc.coverage.spatialSpaVENEZUELA (REPUBLICA BOLIVARIANA DE)
dc.date.accessioned2014-01-02T16:11:53Z
dc.date.available2014-01-02T16:11:53Z
dc.date.issued2005-02
dc.descriptionIncludes bibliography
dc.description.abstractRecent analytical work has focused on exchange-rate regimes" and their general and specific consequences for growth and stability. Although significant progress has been made in formulating taxonomies of regimes, general consensus on which regimes are likely to prove optimal for given economies has proven elusive. In recent years, the five Andean economies have adapted a variety of exchange-rate regimes. Their experience appears to support the view that the most convenient exchange-rate regimes are those that afford policymakers sufficient freedom of maneuver to adjust their policies in response to evolving emphases on stability and growth objectives. That is, "intermediate", relatively flexible, regimes seem generally preferable to "polar" regimes that leave no scope for policy intervention. Bolivia and Peru, and more recently Colombia, have been able to secure a high degree of price-level and exchange-rate stability through disciplined monetary policy and exchange-rate management under flexible regimes. In Ecuador, dollarization has brought about price stability but aggravated competitiveness problems. Venezuela has had to adjust its fixed exchange rate repeatedly, although clearly this economy's difficulties go far beyond its exchange-rate regime. The different economies' different exchange-rate regimes have led to haphazard consequences for their bilateral trade relationships, and this appears to have significantly affected interregional trade."
dc.formatTexto
dc.format.extent102 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.isbn9211215293
dc.identifier.unSymbolLC/L.2237-P
dc.identifier.urihttps://hdl.handle.net/11362/5401
dc.language.isoeng
dc.physicalDescription102 p. : gráfs., tabls.
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesSerie Macroeconomía del Desarrollo
dc.relation.isPartOfSeriesNo34
dc.rights.coarDisponible
dc.subject.unbisEngECONOMIC GROWTH
dc.subject.unbisEngECONOMIC STABILIZATION
dc.subject.unbisEngFOREIGN EXCHANGE RATES
dc.subject.unbisEngMONETARY POLICY
dc.subject.unbisEngMONETARY SYSTEMS
dc.subject.unbisEngFINANCIAL RESOURCES
dc.subject.unbisSpaCRECIMIENTO ECONOMICO
dc.subject.unbisSpaESTABILIZACION ECONOMICA
dc.subject.unbisSpaPOLITICA MONETARIA
dc.subject.unbisSpaTIPOS DE CAMBIO
dc.subject.unbisSpaSISTEMAS MONETARIOS
dc.subject.unbisSpaRECURSOS FINANCIEROS
dc.titleAndean exchange-rate regimes, 1994-2003: a brief for "stable but flexible" regimes
dc.type.coarlibro
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