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The political economy of exchange rate policy in Colombia

Author

Listed:
  • Juan C. Jaramillo

    ()

  • Roberto Steiner

    ()

  • Natalia Salazar

    ()

Abstract

Since the 1960s Colombia has exhibited notorius economic stability and institutional continuity. Until rencently, the political system was based on an entreched bipartisan coalition, with little ideological confrontation. Power sharing, which was mandatory during the National Front (NF, 1954-74), lasted until 1991. Coffee, the main export, is a labor-intensive activity, taking place in thousands of family-owned small plots. Coffee producers income depends on a complez arrangement whit the government, the exchange rete being but one component.

Suggested Citation

  • Juan C. Jaramillo & Roberto Steiner & Natalia Salazar, 1999. "The political economy of exchange rate policy in Colombia," WORKING PAPERS SERIES. DOCUMENTOS DE TRABAJO 009194, FEDESARROLLO.
  • Handle: RePEc:col:000123:009194
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    File URL: http://hdl.handle.net/11445/828
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    References listed on IDEAS

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    1. Stein, Ernesto H. & Streb, Jorge M., 1998. "Political stabilization cycles in high-inflation economies," Journal of Development Economics, Elsevier, pages 159-180.
    2. Dornbusch, Rudiger & Fischer, Stanley, 1993. "Moderate Inflation," World Bank Economic Review, World Bank Group, vol. 7(1), pages 1-44, January.
    3. Mauricio Cárdenas & Roberto Steiner, 1997. "El Flujo de los Capitales Privados en Colombia," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., pages 309-337.
    4. Juan Carlos Echeverry, 1996. "The rise and Perpetuation of a Moderate Inflation, Colombia 1970-1991," Borradores de Economia 050, Banco de la Republica de Colombia.
    5. Cukierman Alex, 1992. "Central Bank Strategy, Credibility, And Independance: Theory And Evidence," Journal des Economistes et des Etudes Humaines, De Gruyter, pages 1-10.
    6. Ernesto H. Stein & Jeffry Frieden, 2000. "The Political Economy of Exchange Rate Policy in Latin America: An Analytical Overview," Research Department Publications 3118, Inter-American Development Bank, Research Department.
    7. Kenneth Rogoff & Anne Sibert, 1988. "Elections and Macroeconomic Policy Cycles," Review of Economic Studies, Oxford University Press, vol. 55(1), pages 1-16.
    8. Cukierman Alex, 1992. "Central Bank Strategy, Credibility, And Independance: Theory And Evidence," Journal des Economistes et des Etudes Humaines, De Gruyter, pages 1-10.
    9. Adolfo Meisel Roca, 1996. "Autonomía de la Banca Central e Inflación: La Experiencia Colombiana, 1923-1995," Borradores de Economia 049, Banco de la Republica de Colombia.
    10. Steiner, Roberto, 1998. "Colombia's income from the drug trade," World Development, Elsevier, vol. 26(6), pages 1013-1031, June.
    11. Adolfo Meisel Roca, 1996. "Autonomía de la Banca Central e Inflación: La Experiencia Colombiana, 1923-1995," Borradores de Economia 049, Banco de la Republica de Colombia.
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    Citations

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    Cited by:

    1. Alberto Alesina & Alberto Carrasquilla & Roberto Steiner, 2000. "The Central Bank in Colombia," WORKING PAPERS SERIES. DOCUMENTOS DE TRABAJO 002458, FEDESARROLLO.
    2. Leonardo Villar & Hernán Rincón, 2000. "The Colombian Economy in the nineties: Capital Flows and Foreign Exchange Regimes," Borradores de Economia 149, Banco de la Republica de Colombia.
    3. Juan José Echavarría Soto & Carolina Rentería & Roberto Steiner, 2000. "Decentralization and Bailouts in Colombia," INFORMES DE INVESTIGACIÓN 002252, FEDESARROLLO.
    4. Ernesto H. Stein & Jeffry Frieden & Piero Ghezzi, 2000. "Politics and Exchange Rates: A Cross-Country Approach to Latin America," Research Department Publications 3119, Inter-American Development Bank, Research Department.
    5. Kandilov, Ivan T. & Leblebicioglu, AslI, 2011. "The impact of exchange rate volatility on plant-level investment: Evidence from Colombia," Journal of Development Economics, Elsevier, pages 220-230.
    6. Diego Aboal & Fernando Lorenzo & Andrés Rius, 2000. "Is the exchange rate politically manipulated around elections? The evidence from Uruguay," Documentos de Trabajo (working papers) 1800, Department of Economics - dECON.

    More about this item

    Keywords

    Economía política; Tasa de cambio; Crecimiento económico; Colombia;

    JEL classification:

    • F35 - International Economics - - International Finance - - - Foreign Aid

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