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

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:	1994
Authors:	Schweickert, Rainer
Published in:	Intereconomics. - Baden-Baden : Nomos Verlagsgesellschaft, ISSN 0020-5346. - Vol. 29.1994, 5, p. 244-252
Publisher:	Baden-Baden : Nomos Verlagsgesellschaft
Subject:	Wirtschaftliche Anpassung \| Inflationsbekämpfung \| Wechselkurspolitik \| Glaubwürdigkeit \| Argentinien \| Chile

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.1007/BF02926384 [DOI] 870648985 [GVK] hdl:10419/1609 [Handle] RePEc:zbw:ifwkie:1609 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010314176