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Financiamiento mediante emisión monetaria en América Latina, 1960-2016

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  • Pineda Salazar, Ramón
  • Acevedo, N. Alejandra

Abstract

Los ingresos por emisión han sido una fuente importante de financiamiento para las economías de la región, promediando el equivalente a 2,9 puntos del PIB y a 20,7% de los ingresos fiscales para el período entre 1960 y 2016. Esta forma de “recaudación” ha cambiado a lo largo del tiempo, siendo en la década del ochenta cuando se empleó de manera más profusa en la región. Pareciera que el uso intensivo de esta forma de financiamiento se produce luego de una caída en los términos de intercambio. Adicionalmente, los datos muestran que los episodios en que este financiamiento ha sido empleado más intensamente coinciden con aumentos de la inflación, caídas del consumo privado, de la inversión y de la actividad económica.

Suggested Citation

  • Pineda Salazar, Ramón & Acevedo, N. Alejandra, 2021. "Financiamiento mediante emisión monetaria en América Latina, 1960-2016," Macroeconomía del Desarrollo 47137, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    • Handle: RePEc:ecr:col037:47137
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