Globalization and monetary inconvertibility

dc.creatorCarneiro, Ricardo
dc.date2008-12-01
dc.date2014-07-17T15:07:50Z
dc.date2015-11-26T11:26:24Z
dc.date2014-07-17T15:07:50Z
dc.date2015-11-26T11:26:24Z
dc.date.accessioned2018-03-28T20:40:17Z
dc.date.available2018-03-28T20:40:17Z
dc.identifierRevista de Economia Política. Editora 34, v. 28, n. 4, p. 539-556, 2008.
dc.identifier0101-3157
dc.identifierS0101-31572008000400001
dc.identifier10.1590/S0101-31572008000400001
dc.identifierhttp://dx.doi.org/10.1590/S0101-31572008000400001
dc.identifierhttp://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572008000400001
dc.identifierhttp://www.repositorio.unicamp.br/jspui/handle/REPOSIP/24327
dc.identifierhttp://repositorio.unicamp.br/jspui/handle/REPOSIP/24327
dc.identifier.urihttp://repositorioslatinoamericanos.uchile.cl/handle/2250/1233568
dc.descriptionThe central hypothesis of this article is that in the context of globalization, monetary inconvertibility is a crucial problem of peripheral countries. It begins with a brief review of the debate from a historical point of view and then stresses the contemporary opposite's views on the fragility of financial system of emerging countries: the original sin and the debt intolerance hypothesis. Despite of supporting the first one, the article goes further and explores the domestic implication of inconvertibility. It criticizes the jurisdicional uncertainty proposition showing that an inherent flaw in the store of value of emerging market currencies, derived from original sin is the main reason for de facto inconvertibility and underdevelopment of domestic financial system of these countries.
dc.description539
dc.description556
dc.languagept
dc.publisherEditora 34
dc.relationRevista de Economia Política
dc.rightsaberto
dc.sourceSciELO
dc.subjectGlobalization
dc.subjectconvertibility
dc.subjectexchange rate volatility
dc.subjectinterest rate volatility
dc.subjectfinancial deepening
dc.titleGlobalização e inconversibilidade monetária
dc.titleGlobalization and monetary inconvertibility
dc.typeArtículos de revistas


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