Ajustamento externo, financeirização dos preços e inflação [External adjustment, 'financially-based price formation', and inflation]
This paper develops a simple structuralist model to deal with the relationships between inflation and external adjustment policies in foreign-indebted economies facing strong reversals in capital inflows. Taking Latin American experiences in the eighties as a reference, the model attempts to systematize the so-called hypothesis of 'financially- based price formation', namely, the regime of price formation through which both real interest rates and inflation rates moved together upwards as a response to increasing pressures for transfer abroad of real resources as a means of debt servicing.
Volume (Year): 11 (2001)
Issue (Month): 2 (December)
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References listed on IDEAS
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- Blecker, Robert A, 1989. "International Competition, Income Distribution and Economic Growth," Cambridge Journal of Economics, Oxford University Press, vol. 13(3), pages 395-412, September.
- Canuto, Otaviano & Holland, Márcio & Xavier, Clésio, 1998. "Taxas de Câmbio, Elasticidades-renda e Saldo Comercial na Economia Brasileira," Revista Brasileira de Economia, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil), vol. 52(2), April.
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