EconPapers    
Economics at your fingertips  
 

Financial Turmoil and the Choice of Exchange Rate Regime

Ricardo Hausmann (), Michael Gavin, Carmen Pages and Ernesto Stein ()

No 1108, IDB Publications (Working Papers) from Inter-American Development Bank

Abstract: Financial turmoil is becoming a fact of life in Latin America. The 1990s have been characterized by enormous volatility in the magnitude and cost of capital flows. The correlation of capital swings across disparate countries suggests that the quality of emerging market policies in addition to global factors have been the main actors in this drama. Therefore, the blame for financial turmoil has moved away from inappropriate domestic policies. Instead, the paradigm has shifted to one of determining which policies - domestic or international - are most effective in taming the destabilizing effects of inherently volatile capital flows.

Keywords: Interest rates; Financial Crises & Structural Adjustement; Exchange rates; exchange rate flexibility; financial systems; currency crises; financial vulnerability (search for similar items in EconPapers)
Date: 1999-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (50) Track citations by RSS feed

Downloads: (external link)
http://10.208.26.208/bitstream/handle/11319/1108/F ... egime.pdf?sequence=1 (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:idb:brikps:1108

Access Statistics for this paper

More papers in IDB Publications (Working Papers) from Inter-American Development Bank Contact information at EDIRC.
Bibliographic data for series maintained by Felipe Herrera Library ().

 
Page updated 2019-04-19
Handle: RePEc:idb:brikps:1108