Anchors Away: The Cost and Benefits of Brazil’s Devaluation

Anchors Away: The Cost and Benefits of Brazil’s Devaluation

This paper analyzes the impact of Brazil’s devaluation in 1999. This event represents an abandonment of the exchange rate anchor which had been used as a stabilization plan since the introduction of the Real Plan in 1994. The reasons behind the abandonment of the exchange rate anchor are determined...

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Veröffentlicht in:World development 2003-06, Vol.31 (6), p.1033-1046
Hauptverfasser: Amann, Edmund, Baer, Werner
Format: Artikel
Sprache:eng
Schlagworte:
Brazil
Cost benefit analysis
Currency
Devaluation
Development studies
Exchange rates
International monetary relations
Monetary economics
Stabilization policy
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Zusammenfassung:This paper analyzes the impact of Brazil’s devaluation in 1999. This event represents an abandonment of the exchange rate anchor which had been used as a stabilization plan since the introduction of the Real Plan in 1994. The reasons behind the abandonment of the exchange rate anchor are determined as well as the explanation for its benign impact.
ISSN:0305-750X
1873-5991
DOI:10.1016/S0305-750X(03)00048-2