publication . Preprint . 1991

Argentina's experience with parallel exchange markets: 1981-1990

Steven B. Kamin;
Open Access
  • Published: 01 Jan 1991
Abstract
This paper surveys the development and operation of the parallel exchange market in Argentina during the 1980s, and evaluates its impact upon macroeconomic performance and policy. The historical evolution of Argentina's exchange market policies is reviewed in order to understand the government's motives for imposing exchange controls. The parallel exchange market engendered by these controls is then analyzed, and econometric methods are used to evaluate the behavior of the parallel exchange rate and its impact upon the balance of payments. ; The main conclusion of the paper is that exchange controls were never effective enough in Argentina to allow the authoriti...
Subjects
free text keywords: Argentina ; Foreign exchange - Law and legislation
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