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The Vulnerability of Inflation Stabilization to External Shocks: A Case Study of Bolivia

In: Economics in a Changing World

Author

Listed:
  • Juan Antonio Morales

    (Universidad Católica Boliviana)

Abstract

Numerous inflation stabilization programmes are based on exchange-rate stabilization. Under most circumstances the stock of net foreign reserves (NFR) plays a crucial role in the credibility and success of exchange-rate stabilization, as has been stressed by Dornbusch (1991). A rapid depletion of NFR caused by an exogenous shock may severely imperil an otherwise well-designed programme.

Suggested Citation

  • Juan Antonio Morales, 1994. "The Vulnerability of Inflation Stabilization to External Shocks: A Case Study of Bolivia," International Economic Association Series, in: Edmar L. Bacha (ed.), Economics in a Changing World, chapter 8, pages 171-194, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-23458-5_8
    DOI: 10.1007/978-1-349-23458-5_8
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    Cited by:

    1. Canh, Nguyen Phuc & Thanh, Su Dinh, 2020. "Domestic tourism spending and economic vulnerability," Annals of Tourism Research, Elsevier, vol. 85(C).

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