Exchange Rate Regimes: Latin American Economic Analysis before the Depression

Kenneth Jameson

Working Paper Series, Department of Economics, University of Utah from University of Utah, Department of Economics

Abstract: The early twentieth century role of U.S. money doctors in establishing Latin American exchange rate regimes and monetary institutions is relatively well known. For example, the work of Edwin Kemmerer in the Andes has been extensively documented. Not so well-known is the work of Latin American economists on these same issues. This paper examines a number of cases where the Latin American analysts were active players and participants in analyzing the exchange rate and monetary issues and in formulating domestic policy to address them. The role of Latin American economists in a variety of international monetary conferences and commissions from 1903-1922 is investigated. In addition, the paper describes how Alberto Pani guided the formulation of Mexican economic policy after the Mexican Revolution and his ability to chart an independent course for Mexico. The conclusion is that there is evidence of intense discussions of economic issues based on Latin Americans economic analysis. The role of foreign advisors was often to break the political impasse and to recommend the policy the inviting government wanted to implement.

Keywords: exchange rate; Latin America; depression (search for similar items in EconPapers)
JEL-codes: B1 E42 F3 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2005
New Economics Papers: this item is included in nep-fmk, nep-his, nep-ifn and nep-mac
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Published in Policies and Economic Development in the Americas, E. Perez and M.Vernengo (eds.), Ideas, New York: Routledge, 2007

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Persistent link: https://EconPapers.repec.org/RePEc:uta:papers:2005_06

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