IDEAS home Printed from
   My bibliography  Save this article

Intercambio Desigual y Tasa de Cambio: ¿Saqueo o Explotación? El Aporte de Gernot Köhler


  • Chaves, Emilio José


Unequal Exchange is initially focused on Latin-American experiences and reflections around the topic. Second part of the essay presents the quantitative method of Gernot Köhler, results and tendencies during the last four decades of the XXth. Century. They show --against conventional wisdom-- that Third World currencies are not overvalued, but on the contrary, they are heavily undervalued with respect to the exchange rate measured in Power Parity Prices (PPP). The result is an enormous and increasing transfer of resources from Periphery to Center, stimulated by the triangle over devaluation-debt-dependence. The proposal to overcome this adverse effect on Periphery is explicit and open to academic and political debate between Central and Peripheral nations.

Suggested Citation

  • Chaves, Emilio José, 2006. "Intercambio Desigual y Tasa de Cambio: ¿Saqueo o Explotación? El Aporte de Gernot Köhler," Entelequia. Revista Interdisciplinar, Entelequia y Grupo (Universidad de Málaga), issue 2, pages 175-195, Fall.
  • Handle: RePEc:erv:ancoec:y:2006:i:2:p:175-195

    Download full text from publisher

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    More about this item


    Unequal Exchange; Center-Periphery; Exchange Rates;

    JEL classification:

    • B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:erv:ancoec:y:2006:i:2:p:175-195. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lisette Villamizar). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.