Perú: Una economía estrangulada por el descalce entre la dolarización de los pasivos financieros y la solarización del poder adquisitivo de sus agentes económicos

Peru: An economy strangled by the mismatch between the financial liability dollarization and the purchasing power sollarization of economic agents

Renzo Jiménez Sotelo
Authors registered in the RePEc Author Service: Renzo A. Jiménez-Sotelo ()

MPRA Paper from University Library of Munich, Germany

Abstract: Peru has an economy partially "dollarized" where 70% of the liquidity of the bank system has been in US dollars during the last decade. Most of the salaries and goods trading are in "soles" (Peruvian currency) but the companies and people borrow and save in US dollars. This "dollarization" strangles the economy because any currency depreciation policy to reactive the economy or any macroeconomic shock that really produces it increases the value of debts (exchanged in soles) and produces an inverse effect and therefore recessively. The paper objective is ti propose strategies that could reduce the disadvantages of the "sol" against the US dollar in such a way that economic agents return to the "sol" by own decision rather than an imposed policy, which would facilitate the implementation of other economic policies.

Keywords: Dolarización; Riesgo cambiario; Políticas de créditos; Regulación financiera; Sistema financiero (search for similar items in EconPapers)
JEL-codes: E31 E42 G21 G28 (search for similar items in EconPapers)
Date: 2001-06-30, Revised 2001-12-31
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Published in Revista Apuntes 49 (2001): pp. 93-115

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Related works:
Journal Article: La dolarización y sus efectos sobre la solidez del sistema financiero peruano (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:26615

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