Economics at your fingertips  

Exchange rate regime proposal for emerging countries: a Keynesian perspective

Fernando Ferrari-Filho and Luiz Fernando de Paula ()
Authors registered in the RePEc Author Service: Fernando Ferrari Filho ()

Journal of Post Keynesian Economics, 2008, vol. 31, issue 2, 227-248

Abstract: This paper presents, in light of Keynesian theory and taking into account the emerging economies' reality in today's global world, an exchange rate regime proposal for emerging countries with the capability to mitigate their external vulnerability and fragility and their dependence on foreign capital, thus making possible the implementation of domestic economic policies that would permit macroeconomic stabilizationâunderstood, following Keynes, as being the combination of price stability and full employment. For this purpose, the paper revisits Keynes's proposals with regard to both exchange rate policy and capital inflows, with a view to showing how they contribute to maintaining full employment, develops a Post Keynesian view on financial globalization and the behavior of exchange rate, and presents a strategy for an exchange rate regime with capital controls for emerging countries.

Keywords: capital controls; emerging countries; exchange rate regime proposal; Keynesian theory (search for similar items in EconPapers)
Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed

Downloads: (external link) (text/html)
Access to full text is restricted to subscribers.

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:

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Journal of Post Keynesian Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

Page updated 2023-01-03
Handle: RePEc:mes:postke:v:31:y:2008:i:2:p:227-248