This paper analyzes the behavior of some key variables during the recent economic liberalization reform attempted in Chile. The paper concentrates on the behavior of the real exchange rate and nominal and real interest rates during the period 1977-83. It is argued that as a consequence of the liberalization of the capital account in Chile in 1979-81, dramatic inflows of financial capital resulted. These capital inflows generated an important increase...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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1985/06/01
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Рабочий документ департамента
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CPD8531
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1
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1
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2010/07/01
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Disclosed
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The behavior of interest rates and real exchange rates during a liberalization episode : the case of Chile 1973-83
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rate of devaluation