| Description |
1 online resource (35 pages) : illustrations |
| Series |
IMF working paper ; WP/99/121 |
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IMF working paper ; WP/99/121.
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| Summary |
Following the financial and trade liberalization reforms of the late 1980s/early 1990s, a number of emerging market economies have experienced sizable current account deficits. In countries such as Argentina and Mexico, where rapid disinflation was accomplished through the combination of an exchange rate peg and trade liberalization, soaring current account deficits appeared to conform to the typical "stabilization cycle" (Kiguel and Leviatan, 1992; Végh, 1992): the marked real exchange rate appreciation and recovery of private consumption that followed macroeconomic stabilization spurred imports while inhibiting export growth, leading to sizeable trade deficits. At an initial stage of the reforms, expectations were created that such trade imbalances would be temporary: with inflation eradicated, consumption growth leveling-off, and domestic productivity enhanced through privatization and deregulation, trade deficits would tend to be gradually reversed, respecting the intertemporal budget constraint of a balanced current account in the long-run |
| Bibliography |
Includes bibliographical references (pages 34-35) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
MERCOSUR (Organization)
|
| SUBJECT |
MERCOSUR (Organization) fast |
| Subject |
Exports -- Argentina
|
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Imports -- Argentina
|
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Balance of trade -- Argentina
|
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Competition, International.
|
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Balance of trade
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Commerce
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Competition, International
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Exports
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Imports
|
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International economic relations
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| SUBJECT |
Argentina -- Commerce
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Argentina -- Foreign economic relations
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| Subject |
Argentina
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| Form |
Electronic book
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| Author |
Falcetti, Elisabetta
|
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International Monetary Fund. Western Hemisphere Department.
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| ISBN |
1282027824 |
|
9781282027824 |
|
