The Return of the Interventionist Central Bank: The Pendulum of Monetary Regimes in Latin America

Esteban Perez Caldentey and Matías Vernengo

Ensayos Económicos, 2020, vol. 1, issue 75, 5-29

Abstract: This article reviews the history of monetary regimes and central banks in the periphery, with an emphasis on Latin America. It suggests that there has been a pendulum between situations in which integration into the global economy has increased, implementing monetary regimes that privilege the automaticity of monetary policy, with periods of affirmation of development, and emphasis on the need for intervention by central banks. The article suggests that the last two crises, and the renewal of the global financial cycle, mark a change in the international monetary regime and the need for a return from the interventionist central bank.

Keywords: central bank; financial cycles; Latin America (search for similar items in EconPapers)
JEL-codes: E58 F38 O54 (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.bcra.gov.ar/Institucional/DescargaPDF/DownloadPDF.aspx?Id=932 Spanish version (versión en Español) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bcr:ensayo:v:1:y:2020:i:75:p:5-29

Access Statistics for this article

Ensayos Económicos is currently edited by Germán Feldman

More articles in Ensayos Económicos from Central Bank of Argentina, Economic Research Department Contact information at EDIRC.
Bibliographic data for series maintained by Federico Grillo ().