Interactions Between Inflation and Trade-Regime Objectives in Stabilization Programs
AbstractThis paper examines the relationship between macroeconomic objectives of controlling inflation and trade-regime objectives in stabilization programs of developing countries. It is seen that there need be, in principle, no close relationship between the two, as a crawling peg exchange-rate policy can prevent inflation from affecting the performance of the foreign sector. In practice, trade regime objectives have been linked with inflation-reducing objectives, often to the detriment of resource allocation and growth. Differences between devaluation under liberalized regimes and under exchange control are also examined.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 0475.
Date of creation: May 1980
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- Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, vol. 5(2), pages 181-189, June.
- Carlos F. Diaz-Alejandro, 1976. "Foreign Trade Regimes and Economic Development: Colombia," NBER Books, National Bureau of Economic Research, Inc, number diaz76-1.
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