Notes on the Brazilian Crisis of 1997-99
ABSTRACT This paper deals with the Brazilian crisis of 1997-98 that lead to the exchange rate floating of January 1999. It starts by showing how exchange rate policy evolved since the Real Plan of 1994 and how the exchange rate regime became a critical issue when the crisis started in 1997. It discu...
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| Format: | Article |
| Language: | English |
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Editora 34
2020-07-01
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| Series: | Brazilian Journal of Political Economy |
| Subjects: | |
| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572003000300376&tlng=en |
| _version_ | 1798020737004470272 |
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| author | FRANCISCO L. LOPES |
| author_facet | FRANCISCO L. LOPES |
| author_sort | FRANCISCO L. LOPES |
| collection | DOAJ |
| description | ABSTRACT This paper deals with the Brazilian crisis of 1997-98 that lead to the exchange rate floating of January 1999. It starts by showing how exchange rate policy evolved since the Real Plan of 1994 and how the exchange rate regime became a critical issue when the crisis started in 1997. It discusses monetary policy during the crisis, the IMF program, the endogenous diagonal band and the decision to float as an alternative to capital controls and default. This five-year drama ended surprisingly well with a benign float, but it is useful to know its details, with the usual mix of economic de- bate, personality clashes and historical fatality. |
| first_indexed | 2024-04-11T17:02:30Z |
| format | Article |
| id | doaj.art-4e9498efa0db4242afdd8c50c4f5fff1 |
| institution | Directory Open Access Journal |
| issn | 1809-4538 |
| language | English |
| last_indexed | 2024-04-11T17:02:30Z |
| publishDate | 2020-07-01 |
| publisher | Editora 34 |
| record_format | Article |
| series | Brazilian Journal of Political Economy |
| spelling | doaj.art-4e9498efa0db4242afdd8c50c4f5fff12022-12-22T04:13:07ZengEditora 34Brazilian Journal of Political Economy1809-45382020-07-0123337640410.1590/0101-31572003-0666Notes on the Brazilian Crisis of 1997-99FRANCISCO L. LOPESABSTRACT This paper deals with the Brazilian crisis of 1997-98 that lead to the exchange rate floating of January 1999. It starts by showing how exchange rate policy evolved since the Real Plan of 1994 and how the exchange rate regime became a critical issue when the crisis started in 1997. It discusses monetary policy during the crisis, the IMF program, the endogenous diagonal band and the decision to float as an alternative to capital controls and default. This five-year drama ended surprisingly well with a benign float, but it is useful to know its details, with the usual mix of economic de- bate, personality clashes and historical fatality.http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572003000300376&tlng=enBrazilian crisis of 1997-98exchange rate policyReal Plan of 1994endogenous diagonal banddecision to float |
| spellingShingle | FRANCISCO L. LOPES Notes on the Brazilian Crisis of 1997-99 Brazilian Journal of Political Economy Brazilian crisis of 1997-98 exchange rate policy Real Plan of 1994 endogenous diagonal band decision to float |
| title | Notes on the Brazilian Crisis of 1997-99 |
| title_full | Notes on the Brazilian Crisis of 1997-99 |
| title_fullStr | Notes on the Brazilian Crisis of 1997-99 |
| title_full_unstemmed | Notes on the Brazilian Crisis of 1997-99 |
| title_short | Notes on the Brazilian Crisis of 1997-99 |
| title_sort | notes on the brazilian crisis of 1997 99 |
| topic | Brazilian crisis of 1997-98 exchange rate policy Real Plan of 1994 endogenous diagonal band decision to float |
| url | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572003000300376&tlng=en |
| work_keys_str_mv | AT franciscollopes notesonthebraziliancrisisof199799 |