Foreign exchange intervention and central bank independence: the Latin American experience
AbstractEmploying data from 13 Latin American countries, we find that greater central bank independence is associated with lesser intervention in the foreign exchange market, and also with leaning-against-the-wind intervention. We also find that the structural reforms that occurred in Latin America mostly in the 1990s helped to reduce the need for foreign exchange intervention.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Applied Financial Economics Letters.
Volume (Year): 4 (2008)
Issue (Month): 5 ()
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Other versions of this item:
- Nunes, Mauricio & Da Silva, Sergio, 2007. "Foreign exchange intervention and central bank independence: The Latin American experience," MPRA Paper 5073, University Library of Munich, Germany.
- F31 - International Economics - - International Finance - - - Foreign Exchange
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
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