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Perú: Una economía estrangulada por el descalce entre la dolarización de los pasivos financieros y la solarización del poder adquisitivo de sus agentes económicos
[Peru: An economy strangled by the mismatch between the financial liability dollarization and the purchasing power sollarization of economic agents]

Author

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  • Jiménez Sotelo, Renzo

Abstract

Peru has an economy partially "dollarized" where 70% of the liquidity of the bank system has been in US dollars during the last decade. Most of the salaries and goods trading are in "soles" (Peruvian currency) but the companies and people borrow and save in US dollars. This "dollarization" strangles the economy because any currency depreciation policy to reactive the economy or any macroeconomic shock that really produces it increases the value of debts (exchanged in soles) and produces an inverse effect and therefore recessively. The paper objective is ti propose strategies that could reduce the disadvantages of the "sol" against the US dollar in such a way that economic agents return to the "sol" by own decision rather than an imposed policy, which would facilitate the implementation of other economic policies.

Suggested Citation

  • Jiménez Sotelo, Renzo, 2001. "Perú: Una economía estrangulada por el descalce entre la dolarización de los pasivos financieros y la solarización del poder adquisitivo de sus agentes económicos [Peru: An economy strangled by the," MPRA Paper 26615, University Library of Munich, Germany, revised 31 Dec 2001.
    • Handle: RePEc:pra:mprapa:26615
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    File URL: https://mpra.ub.uni-muenchen.de/26615/1/MPRA_paper_26615.pdf
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    References listed on IDEAS

    as
    1. Carlos Parodi Trece (ed.), 2001. "Globalización y crisis financieras internacionales: causas, hechos, lecciones e impactos económicos y sociales," Books, Fondo Editorial, Universidad del Pacífico, edition 1, volume 1, number 01-06.
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    Cited by:

    1. Renzo Jiménez Sotelo, 2010. "Ciclo crediticio y acelerador cambiario: evidencia empírica y consecuencias para la regulación prudencial," Revista Economía, Fondo Editorial - Pontificia Universidad Católica del Perú, vol. 33(65), pages 133-176.
    2. Renzo Jiménez Sotelo, 2009. "Acceso de la banca de desarrollo al banco central: el caso de COFIDE y las tasas de interés en Perú," Boletín, CEMLA, vol. 0(3), pages 119-138, Julio-sep.
    3. Renzo Jiménez Sotelo, 2004. "Riesgo crediticio derivado del riesgo cambiario: perspectiva de una economía latinoamericana parcialmente dolarizada," Apuntes. Revista de ciencias sociales, Fondo Editorial, Universidad del Pacífico, vol. 31(54), pages 92-134.
    4. Jiménez Sotelo, Renzo, 2012. "Políticas para la gestión de activos y pasivos soberanos: Una propuesta para el Tesoro del Perú [Policies for sovereign asset and liability management: A proposal for the Treasury of Peru]," MPRA Paper 119895, University Library of Munich, Germany.

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      More about this item

      Keywords

      Dolarización; Riesgo cambiario; Políticas de créditos; Regulación financiera; Sistema financiero;
      All these keywords.

      JEL classification:

      • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
      • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
      • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
      • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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