Exchange-based stabilization: a comparative analysis of the Argentina and Brazil experiences
DOI:
https://doi.org/10.5902/141465093417Keywords:
Stabilisation policy, Exchange anchor, Argentina and brazilian economyAbstract
The work aims to demonstrate that stabilization policies based on In the Exchange, adopted by Argentina, through the convertibility plan, and in Brazil, in the Real plan, although they were successful in controlling inflation, they have determined pernicious effects on the economic and social structure of these countries. The exchange rate overvaluation, combined with high interest rates and commercial opening, resulted in low rates of economic growth, destructuring of the industry, unemployment and increased internal and external debts, in addition to putting these countries in constant vulnerability to external shocks. It is concluded that the policies recommended by the "Washington consensus" do not adapt to the structural characteristics of Latin American economies, being indispensable to revitalize the state of Social welfare.
Downloads
References
CARDOSO, Eliana & HELWEGE, Ann. A economia da América Latina – diversidade, tendência e conflitos. São Paulo: Ática, 1993.
DEPARTAMENTO INTERSINDICAL DE ESTATÍSTICA E ESTUDOS SÓCIO-ECONÔMICO-DIEESE. www.org.br/esp/real5ano.html
FERRARI, Andrés. Moneda com peso; recesión real: lecciones de la convertibilidade argentina para el Brasil. Indicadores Econômicos(FEE). V. 27 n.2, p. 191-197, 1999.
GERCHUNOFF, Pablo & TORRE, Juan Carlos. La politica de liberalizacion economica en la administacion de Menem. Desarollo Económico, Buenos Aires, n. 143, IDES, oct.-dec. 1996.
MELLO, Fátima V. & SCHLESINGER, Sérgio. Brasil, Integração regional sob a ótica da democracia, justiça social e sustentabilidade. Anais do XIII Congresso Brasileiro de Economistas. Rio de Janeiro, 13 a 17 de setembro de 1999.
SAYAD, João. A política cambial no Plano Real. Economia Aplicada(FEA/USP). V. 3 nº Especial, março 1999.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2001 Economia e Desenvolvimento
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
The journal reserves the right of making changes in the originals in a normative order, orthographic and grammatical, with the objective of maintaining the language cult pattern, respecting the authors success. The final tests will not be sent to the authors. The published papers become the Economics and Development propriety. The opinions issued by the article’s authors are their own responsibility.
