Nunes, Mauricio and Da Silva, Sergio (2007): Foreign exchange intervention and central bank independence: The Latin American experience.
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Employing data from 13 Latin American countries, we find that greater central bank independence is associated with lesser intervention in the foreign exchange market, and also with leaning-against-the-wind intervention. We also find that the structural reforms that occurred in Latin America mostly in the 1990s helped to reduce the need for foreign exchange intervention.
|Item Type:||MPRA Paper|
|Institution:||Federal University of Santa Catarina|
|Original Title:||Foreign exchange intervention and central bank independence: The Latin American experience|
|Keywords:||central bank independence; foreign exchange intervention; Latin America|
|Subjects:||F - International Economics > F3 - International Finance > F31 - Foreign Exchange
F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F41 - Open Economy Macroeconomics
|Depositing User:||Sergio Da Silva|
|Date Deposited:||29. Sep 2007|
|Last Modified:||17. Feb 2013 12:18|
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