Inflation and the Costs of Stabilization: Historical and Recent Experiences and Policy Lessons
AbstractThis article reviews various experiences with stabilization. It first examines stabilization programs in the context of hyperinflation--looking at the experiences of Austria and Germany in the early 1920s and Bolivia in 1985--and then reviews and interprets the results of orthodox stabilization plans (applied in Argentina, Chile, and Uruguay during the mid-1970s and early 1980s) and those of heterodox programs (the austral plan in Argentina and the cruzado plan in Brazil, with a glance at the Mexican and Israeli experiences). The paper concludes with a discussion of conceptual issues and implications for the design of stabilization policies. Copyright 1990 by Oxford University Press.
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Bibliographic InfoArticle provided by World Bank Group in its journal World Bank Research Observer.
Volume (Year): 5 (1990)
Issue (Month): 2 (July)
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- Corbo, Vittorio & Fischer, Stanley, 1995.
"Structural adjustment, stabilization and policy reform: Domestic and international finance,"
Handbook of Development Economics,
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- Corbo, Vittorio & Fischer, Stanley, 1991. "Adjustment programs and Bank support : rationale and main results," Policy Research Working Paper Series 582, The World Bank.
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