Financial policies and the world capital market [[electronic resource] ] : the problem of Latin American countries / / edited by Pedro Aspe Armella, Rudiger Dornbusch, and Maurice Obstfeld

• Record Nr.: UNINA9910454344103321
• Pubbl/distr/stampa: Chicago, : University of Chicago Press, 1983
• ISBN: 1-282-06952-7; 9786612069529; 0-226-02997-2
• Descrizione fisica: 1 online resource (304 p.)
• Collana: A Conference report / National Bureau of Economic Research
• Altri autori (Persone): Aspe ArmellaPedro; DornbuschRudiger; ObstfeldMaurice
• Disciplina: 332.498; 332/.042/098
• Soggetti: Finance - Latin America; Debts, External - Latin America; Capital market - Latin America; Foreign exchange - Latin America; Electronic books.; Latin America Foreign economic relations Congresses
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: "Result of the National Bureau of Economic Research Conference on Financial Policies and the World Capital Market: The Problem of Latin American Countries, held at the Instituto Technológico Autónomo de México in Mexico City, 26-27 March 1981"--Pref.
• Nota di bibliografia: Includes bibliographies and indexes.
• Nota di contenuto: Front matter -- Contents -- Preface -- Introduction -- 1. Stories of the 1930's for the 1980's -- 2. Optimal Economic Integration -- 3. Seigniorage and Fixed Exchange Rates: An Optimal Inflation Tax Analysis -- 4. Dollarization in Mexico: Causes and Consequences -- 5. On Equilibrium Wage Indexation and Neutrality of Indexation Policy -- 6. Real versus Financial Openness under Alternative Exchange Rate Regimes -- 7. Financing Private Business in an Inflationary Context: The Experience of Argentina between 1967 and 1980 -- 8. Debt and ; the Current Account Deficit in Brazil -- 9. Trying to Stabilize: Some Theoretical Reflections Based on the Case of Argentina -- 10. Interest Differential and Covered Arbitrage -- 11. Capital Mobility and the Scope for Sterilization: Mexico in the 1970's -- 12. Panel Discussion: The Capital Market under Conditions of High and Variable Inflation -- Contributors -- Author Index -- Subject Index
• Sommario/riassunto: The essays brought together in this volume share a common objective: To bring a unifying methodological approach to the analysis of financial problems in developing, open economies. While the primary focus is on contemporary Latin America, the methods employed and the lessons learned are of wider applicability. The papers address the financial integration issue from three different perspectives. In some cases, a country study is the vehicle for an econometric investigation of a particular external linkage. In other cases, an individual country's experience suggests an economic model in which the stylized facts may be analyzed and developed. A third direction is unabashedly theoretical and formulates more general principles which are broadly applicable rather than country-specific.