Nunes, Mauricio and Da Silva, Sergio (2007): Foreign exchange intervention and central bank independence: The Latin American experience.
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Abstract
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 |
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Institution: | Federal University of Santa Catarina |
Original Title: | Foreign exchange intervention and central bank independence: The Latin American experience |
Language: | English |
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 |
Item ID: | 5073 |
Depositing User: | Sergio Da Silva |
Date Deposited: | 29 Sep 2007 |
Last Modified: | 27 Sep 2019 22:30 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/5073 |