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POL�TICA MONETARIA Y CAMBIARIA Y ESTABILIDAD DEL TIPO DE CAMBIO EN ALGUNOS PA�SES EMERGENTES: Hungr�a, Chile, China, Per� y Brasil

Author

Listed:
  • Gloria Alonso
  • Pilar Esguerra
  • Luz Adriana Fl�rez
  • Franz Hamann

Abstract

Este documento resume las principales conclusiones del ejercicio realizado con el objetivo de analizar la forma c�mo algunos pa�ses emergentes, con diversos esquemas de pol�tica monetaria, manejan su pol�tica cambiaria. La pregunta que suscit� este an�lisis fue: �C�mo han logrado los pa�ses analizados mantener un determinado nivel de la tasa de cambio durante un per�odo de tiempo m�s o menos prolongado? Cada uno de los pa�ses analizados aporta algo a este interrogante: en el caso de Hungr�a, las autoridades han logrado defender con �xito un determinado nivel de la tasa de cambio a�n en la presencia de fuertes ataques especulativos. En el caso de la China, sus peculiaridades de organizaci�n pol�tica e institucional, adem�s de su tama�o, son parte de la explicaci�n. En el caso de Per� y Brasil, sus notorios avances a una disminuci�n de la vulnerabilidad fiscal y externa parecen haber contribuido a una mayor estabilidad cambiaria.

Suggested Citation

  • Gloria Alonso & Pilar Esguerra & Luz Adriana Fl�rez & Franz Hamann, 2006. "POL�TICA MONETARIA Y CAMBIARIA Y ESTABILIDAD DEL TIPO DE CAMBIO EN ALGUNOS PA�SES EMERGENTES: Hungr�a, Chile, China, Per� y Brasil," Borradores de Economia 3337, Banco de la Republica.
    • Handle: RePEc:col:000094:003337
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    References listed on IDEAS

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    1. José De Gregorio & Andrea Tokman R., 2004. "Flexible Exchange Rate Regime and Forex Interventions: The Chilean Case," Economic Policy Papers Central Bank of Chile 11, Central Bank of Chile.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Macroeconom�a; Inflaci�n; Tasa de cambio; Balanza de pagos; Vulnerabilidad Externa; Pol�tica Monetar;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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