Plano real e âncora cambial
By: SILVA, Maria Luiz Falcão
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ArticlePublisher: São Paulo : Editora 34 , jul./set. 2002Revista de Economia Política = Brazilian Journal of Political Economy 22, 3, p. 3-24Abstract: Recently, a number of Latin American countries with high inflation and various kinds of imbalances have experienced disinflation stabilisation programmes. Brasil implemented in July 1994 the Real Plan an exchange-rate-based stabilisation experiment. This paper revisites this experience examining the main reasons for the collapse of the exchange-rate regime, in January 1999, from alternative theoretical point of views. What emerges from the paper is the conclusion that most of the new arguments presented to explain the Brazilian currency crisis are arguments used in the past by heterodox theorists
Recently, a number of Latin American countries with high inflation and various kinds of imbalances have experienced disinflation stabilisation programmes. Brasil implemented in July 1994 the Real Plan an exchange-rate-based stabilisation experiment. This paper revisites this experience examining the main reasons for the collapse of the exchange-rate regime, in January 1999, from alternative theoretical point of views. What emerges from the paper is the conclusion that most of the new arguments presented to explain the Brazilian currency crisis are arguments used in the past by heterodox theorists
v. 22, n. 3(87)
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