| Journal: | Revista de economia politica |
| Database: | CLASE |
| System number: | 000280415 |
| ISSN: | 0101-3157 |
| Authors: | Johnson, Bryan Andrew Kenyon1 |
| Institutions: | 1HSBC Bank, Londres. Reino Unido |
| Year: | 2007 |
| Season: | Ene-Mar |
| Volumen: | 27 |
| Number: | 1 |
| Pages: | 60-81 |
| Country: | Brasil |
| Language: | Portugués |
| Document type: | Artículo |
| Approach: | Analítico, descriptivo |
| English abstract | This paper examines how exchange rate policies and IMF Stand-By Arrangements affect debt crises using econometrics and a comparison between Argentina and Brazil. It refines an existing diagram outlining crisis development to propose crisis prevention strategies. Flexible exchange rate policies reduce a country's probability of default by over 4%, but Stand-By Arrangements increase it by an inconsequential percentage. Unlike Argentina, Brazil avoided a default via a freely-floating exchange rate system, fiscal deficit reduction, and a cooperative and coordinated relationship with the IMF. The results provide policymakers from developing countries with lessons to manage their countries' default risks more effectively |
| Disciplines: | Economía |
| Keyword: | Economía monetaria, Brasil, Argentina, Política monetaria, Tipo de cambio, Crisis económica, Suspensión de pagos, Política cambiaria, Fondo Monetario Internacional (FMI), Acuerdos económicos, Economía nacional |
| Full text: | Texto completo (Ver HTML) |
