Peru: Monetary and Exchange Rate Policies, 1930 - 1980
AbstractThis paper reviews monetary and exchange rate policies in Peru in 1930-80. The review covers major transformations to the world economy, including the post-1929 crash and WWII, and changing economic paradigms, such as the collapse of the gold standard and the rise and fall of the Bretton Woods system of fixed exchange rates. The analysis emphasizes the lasting partnership between Peruvian policymakers and the Bretton Woods institutions, while stressing the local authorities’ ownership of final policy decisions. The review shows that, in general, during the fifty year period under analysis, the Peruvian authorities sought to deliver nominal exchange rate stability, even at the cost of introducing market distortions and/or incurring heavy losses in international reserves.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 12/166.
Date of creation: 01 Jun 2012
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-16 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jorge Rojas, 1993. "El Perú hasta 1960. Políticas liberales en una economía abierta ," Documentos de Trabajo 1993-109, Departamento de Economía - Pontificia Universidad Católica del Perú.
- Edwards, Sebastian, 1983. "Floating Exchange Rates in Less-Developed Countries: A Monetary Analysis of the Peruvian Experience, 1950-54," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(1), pages 73-81, February.
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