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Solvency Indicators Foreign Exchange Rate And Nominal In Latin America, 2000-2012

Author

Listed:
  • Cesar Roberto Leite da Silva

    (Pontifícia Universidade Católica de São Paulo)

  • Fernando Ribeiro

    (Pontifícia Universidade Católica de São Paulo)

Abstract

This work has main objective to verify the hypothesis that fluctuations in nominal exchange rates respond to variables representing the external solvency, such as the current account of the balance of payments balance (% GDP), stock of international reserves (% of GDP) and inventory of public and private external debt (% GDP). To test this hypothesis was used a panel data model forfive Latin American countries –Argentina, Brazil, Chile, Colombia and Mexico – with data covering the period from the first quarter of 2000 to the last quarter of 2012. Results indicated that fluctuations in nominal exchange rates of the countries studied are sensitive to their external debts. The other variables did not have the expected effect on nominal exchange rates.

Suggested Citation

  • Cesar Roberto Leite da Silva & Fernando Ribeiro, 2014. "Solvency Indicators Foreign Exchange Rate And Nominal In Latin America, 2000-2012," Revista de Economia Mackenzie (REM), Mackenzie Presbyterian University, Social and Applied Sciences Center, vol. 12(1), pages 167-180, 2014-2015.
    • Handle: RePEc:aft:journl:v:12:1:2014:2015:p:167-180
    DOI: -
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