A tendência à sobreapreciação da taxa de câmbio
In developing countries there is a tendency to the overvaluation of the exchange rate. It has two structural causes: the Dutch disease and the attraction that higher profit and interest rates usually prevailing in developing countries exert on foreign capitals, and four policy causes: the policy of growth with foreign savings, the control of inflation to exchange rate anchors, the policy of “capital deepening”, and exchange rate populism. Either the country neutralizes this tendency and grows fast, or does not and will suffer cyclical balance of payment crises.
|Date of creation:||13 Apr 2009|
|Date of revision:|
|Contact details of provider:|| Postal: Rua Itapeva, 474, 13o andar, CEP 01332-000, São Paulo - SP|
Phone: 55 (011) 3799-3350
Fax: 55 (011) 3799-3357
Web page: http://eesp.fgv.br
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Norman Loayza & Pablo Fajnzylber & César Calderón, 2005.
"Economic Growth in Latin America and the Caribbean : Stylized Facts, Explanations, and Forecasts,"
World Bank Publications,
The World Bank, number 7315, August.
- Norman Loayza & Pablo Fajnzylber & César Calderón, 2004. "Economic Growth in Latin America and The Caribbean: Stylized Facts, Explanations, and Forecasts," Working Papers Central Bank of Chile 265, Central Bank of Chile.
- Pereira, Luiz C. Bresser & Gala, Paulo, 2010. "Macroeconomia estruturalista do desenvolvimento," Textos para discussão 275, Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
- Jeffrey D. Sachs, 1989. "Social Conflict and Populist Policies in Latin America," NBER Working Papers 2897, National Bureau of Economic Research, Inc.
- Rudiger Dornbusch & Sebastian Edwards, 1989. "Macroeconomic Populism in Latin America," NBER Working Papers 2986, National Bureau of Economic Research, Inc.
- Ofair Razin & Susan M. Collins, 1997. "Real Exchange Rate Misalignments and Growth," International Finance 9707001, EconWPA.
- Prebisch, Raúl, 1950. "The economic development of Latin America and its principal problems," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 29973, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
- Arvind Subramanian & Jonathan David Ostry & Simon Johnson, 2007.
"The Prospects for Sustained Growth in Africa; Benchmarking the Constraints,"
IMF Working Papers
07/52, International Monetary Fund.
- Simon Johnson & Jonathan D. Ostry & Arvind Subramanian, 2007. "The Prospects for Sustained Growth in Africa: Benchmarking the Constraints," NBER Working Papers 13120, National Bureau of Economic Research, Inc.
- Sachs, Jeffrey D. & Warner, Andrew M., 1999. "The big push, natural resource booms and growth," Journal of Development Economics, Elsevier, vol. 59(1), pages 43-76, June.
- Ofair Razin & Susan M. Collins, 1997. "Real Exchange Rate Misalignments and Growth," NBER Working Papers 6174, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:fgv:eesptd:183. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Núcleo de Computação da EPGE)
If references are entirely missing, you can add them using this form.