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Fighting Inflation in Latin America

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  • A. Dijkstra

Abstract

Inflation has been a chronic problem for Latin American economies since the Second World War. In the 1980s, inflation ran out of control in many countries. This article analyses the causes of these high inflation rates and discusses the experiences of Latin American countries in fighting (hyper‐) inflation in the 1980s and 1990s. Particular attention is given to the relative merits of orthodox versus heterodox approaches, and to the use of the exchange rate as an inflation stabilizer. The article concludes, among other things, that achieving fiscal balance is crucial, whatever method is used, and that a fixed exchange rate can help to stabilize inflation but contains many risks, in particular with open capital accounts.

Suggested Citation

  • A. Dijkstra, 1997. "Fighting Inflation in Latin America," Development and Change, International Institute of Social Studies, vol. 28(3), pages 531-557, July.
    • Handle: RePEc:bla:devchg:v:28:y:1997:i:3:p:531-557
    DOI: 10.1111/1467-7660.00053
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    Cited by:

    1. Vahabi, Mehrdad, 2020. "نئولیبرالیسم و مقابله با تورم [The Neoliberalism and the Inflation Control]," MPRA Paper 102539, University Library of Munich, Germany.

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