Argentina’s Exchange Rate Policy between 2016 and 2019. Context and possible scenarios from a Political Economy Perspective

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The rapid succession of nontrivial changes in Argentina’s exchange rate policy poses questions both on the motives which caused those changes and the effectiveness of the current regime to achieve macroeconomic objectives. Regarding this matter, this essay examines the sustainability of the managed...

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Autor principal: Massot, Juan Miguel
Formato: Artículo revista
Lenguaje:Español
Publicado: Facultad de Ciencias Económicas. Instituto de Economía y Finanzas 2020
Materias:
Exchange rate regimes; inflation targeting; macroeconomic policy; Argentina
regímenes cambiarios; metas de inflación; política macroeconómica; Argentina
Acceso en línea:https://revistas.unc.edu.ar/index.php/acteconomica/article/view/27438
Aporte de:
Revistas de la UNC de Universidad Nacional de Córdoba
id I10-R10-article-27438
record_format ojs
spelling I10-R10-article-274382022-08-21T23:55:14Z Argentina’s Exchange Rate Policy between 2016 and 2019. Context and possible scenarios from a Political Economy Perspective La política cambiaria argentina entre 2016 y 2019. Situación y alternativas desde una perspectiva de Economía Política Massot, Juan Miguel Exchange rate regimes; inflation targeting; macroeconomic policy; Argentina regímenes cambiarios; metas de inflación; política macroeconómica; Argentina The rapid succession of nontrivial changes in Argentina’s exchange rate policy poses questions both on the motives which caused those changes and the effectiveness of the current regime to achieve macroeconomic objectives. Regarding this matter, this essay examines the sustainability of the managed flexible exchange rate policy currently in force in the country between December 2015 and the primary elections on August 2019, and the viability of adopting a fixed exchange rate for a certain period. The approach adopted for the analysis is that political economy of exchange rates regimes under external constraints on economic growth. At the ending date of this research, August 2019, it is concluded that a fixed exchange rate policy and a depreciated currency might be an option consistent with reaching the internal and external equilibrium of Argentinian economy until conditions are appropriate for the adoption of a flexible exchange rate regime. La sucesión en muy breve plazo de cambios no triviales en la política cambiaria de la Argentina plantea interrogantes tanto sobre los motivos que los originaron como sobre la eficiencia del régimen actual para lograr los objetivos de política macroeconómica. El presente ensayo examina la sostenibilidad de la política cambiaria de tipo de cambio flexible administrado vigente en el país entre diciembre de 2015 y las elecciones Primarias, Abiertas, Simultáneas y Obligatorias (PASO) de agosto de 2019, y la viabilidad de la adopción por un período determinado de un tipo de cambio fijo. El enfoque adoptado para el análisis es el de la economía política de los regímenes cambiarios bajo condiciones de restricción externa al crecimiento económico. A la fecha de redacción del ensayo, agosto de 2019, se concluye que la política cambiaria de un tipo de cambio fijo y una moneda depreciada puede ser una opción consistente con la obtención de los equilibrios internos y externos de la economía argentina hasta tanto se reúnan las condiciones para la adopción de un régimen de tipo de cambio flexible. Facultad de Ciencias Económicas. Instituto de Economía y Finanzas 2020-01-12 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Articles Artículos application/pdf https://revistas.unc.edu.ar/index.php/acteconomica/article/view/27438 Actualidad Económica; Vol. 29 No. 99 (2019): September-December Actualidad Económica; Vol. 29 Núm. 99 (2019): Septiembre - Diciembre 2250-754X 0327-585X spa https://revistas.unc.edu.ar/index.php/acteconomica/article/view/27438/29006
institution Universidad Nacional de Córdoba
institution_str I-10
repository_str R-10
container_title_str Revistas de la UNC
language Español
format Artículo revista
topic Exchange rate regimes; inflation targeting; macroeconomic policy; Argentina
regímenes cambiarios; metas de inflación; política macroeconómica; Argentina
spellingShingle Exchange rate regimes; inflation targeting; macroeconomic policy; Argentina
regímenes cambiarios; metas de inflación; política macroeconómica; Argentina
Massot, Juan Miguel
Argentina’s Exchange Rate Policy between 2016 and 2019. Context and possible scenarios from a Political Economy Perspective
topic_facet Exchange rate regimes; inflation targeting; macroeconomic policy; Argentina
regímenes cambiarios; metas de inflación; política macroeconómica; Argentina
author Massot, Juan Miguel
author_facet Massot, Juan Miguel
author_sort Massot, Juan Miguel
title Argentina’s Exchange Rate Policy between 2016 and 2019. Context and possible scenarios from a Political Economy Perspective
title_short Argentina’s Exchange Rate Policy between 2016 and 2019. Context and possible scenarios from a Political Economy Perspective
title_full Argentina’s Exchange Rate Policy between 2016 and 2019. Context and possible scenarios from a Political Economy Perspective
title_fullStr Argentina’s Exchange Rate Policy between 2016 and 2019. Context and possible scenarios from a Political Economy Perspective
title_full_unstemmed Argentina’s Exchange Rate Policy between 2016 and 2019. Context and possible scenarios from a Political Economy Perspective
title_sort argentina’s exchange rate policy between 2016 and 2019. context and possible scenarios from a political economy perspective
description The rapid succession of nontrivial changes in Argentina’s exchange rate policy poses questions both on the motives which caused those changes and the effectiveness of the current regime to achieve macroeconomic objectives. Regarding this matter, this essay examines the sustainability of the managed flexible exchange rate policy currently in force in the country between December 2015 and the primary elections on August 2019, and the viability of adopting a fixed exchange rate for a certain period. The approach adopted for the analysis is that political economy of exchange rates regimes under external constraints on economic growth. At the ending date of this research, August 2019, it is concluded that a fixed exchange rate policy and a depreciated currency might be an option consistent with reaching the internal and external equilibrium of Argentinian economy until conditions are appropriate for the adoption of a flexible exchange rate regime.
publisher Facultad de Ciencias Económicas. Instituto de Economía y Finanzas
publishDate 2020
url https://revistas.unc.edu.ar/index.php/acteconomica/article/view/27438
work_keys_str_mv AT massotjuanmiguel argentinasexchangeratepolicybetween2016and2019contextandpossiblescenariosfromapoliticaleconomyperspective
AT massotjuanmiguel lapoliticacambiariaargentinaentre2016y2019situacionyalternativasdesdeunaperspectivadeeconomiapolitica
first_indexed 2022-08-20T00:58:57Z
last_indexed 2022-10-04T12:26:02Z
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