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Foreign exchange pressures in Latin America: Does debt matter?

Mandilaras, A and Bird, G (2008) Foreign exchange pressures in Latin America: Does debt matter? Journal of International Development, 20 (5). pp. 613-627.

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Abstract

Latin American countries have been in the eye of economic and ¯nancial storms several times in recent years. Advice from the International Monetary Fund has consistently highlighted the need for sound fiscal policies and lower debt levels. But is public debt relevant? Following a brief discussion of the theoretical issues involved, this paper examines empirically the relationship between public indebtedness and pressures in the foreign exchange market. Alternative measures are used to capture the latter and the analysis controls for a de facto classi¯cation of exchange rate regimes. Estimations of static and dynamic panels for 28 Latin American and Caribbean (LAC) countries report substantial fiscal effects.

Item Type: Article
Authors :
AuthorsEmailORCID
Mandilaras, AUNSPECIFIEDUNSPECIFIED
Bird, GUNSPECIFIEDUNSPECIFIED
Date : 2008
Identification Number : https://doi.org/10.1002/jid.1436
Depositing User : Symplectic Elements
Date Deposited : 28 Mar 2017 14:39
Last Modified : 28 Mar 2017 14:39
URI: http://epubs.surrey.ac.uk/id/eprint/221473

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