Stabilization and real adjustment in emerging market economies : lessons from macroeconomic reforms in the Southern Cone

Rainer Schweickert

Based on theory and on evidence from the Southern Cone the following paper concludes for emerging market economies (1) that fiscal reform is of utmost importance for macroeconomic reforms, (2) that credibility cannot be imported via a fixed exchange rate but has to be established by internal reforms and (3) that an exchange rate based stabilization remains a high-risk strategy even in the case of strong adjustment efforts.

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Year of publication:	September/October 1994
Authors:	Schweickert, Rainer
Published in:	Intereconomics : review of European economic policy. - Warsaw, Poland : Sciendo, ISSN 1613-964X, ZDB-ID 2066476-X. - Vol. 29.1994, 5, p. 244-252
Subject:	Wirtschaftliche Anpassung \| Economic adjustment \| Inflationsbekämpfung \| Anti-inflation policy \| Wechselkurspolitik \| Exchange rate policy \| Glaubwürdigkeit \| Credibility \| Argentinien \| Argentina \| Chile

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Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	10.1007/BF02926384 [DOI] hdl:10419/1609 [Handle]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011548298