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Concessão de crédito entre bancos centrais no âmbito do Convênio de Pagamentos e Créditos Recíprocos
[Credit concession among central banks within the Agreement on Reciprocal Payments and Credits]

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  • Reiss, Daniel G

Abstract

The objective is the establishment of credit lines ruled on the Agreement on Reciprocal Payments and Credits, an international agreement signed by twelve Latin America central banks for trade in the early 1980s. A description of the multilateral system of payments and a study of the bilateral credit lines‟ characteristics are made. We propose a model that considers the basic characteristics of trade needs among countries expressed in the Agreement and issues related to risk aversion. The model is estimated and its answers to the data available until the first quarter of 2010. We conclude that the total credit line in CCR shall be reduced; the credit granted to Argentina, Chile, Mexico, Paraguay, and Uruguay shall be reduced; and the credit granted to Bolivia, Peru and Venezuela shall be increased.

Suggested Citation

  • Reiss, Daniel G, 2010. "Concessão de crédito entre bancos centrais no âmbito do Convênio de Pagamentos e Créditos Recíprocos [Credit concession among central banks within the Agreement on Reciprocal Payments and Credits]," MPRA Paper 41322, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:41322
    as

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    References listed on IDEAS

    as
    1. David McKenzie, 2001. "An Econometric analysis of IBRD creditworthiness," International Economic Journal, Taylor & Francis Journals, vol. 18(4), pages 427-448.
    2. Tresch, Richard W., 2014. "Public Finance," Elsevier Monographs, Elsevier, edition 3, number 9780124158344.
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    More about this item

    Keywords

    payment system; credit concession between central banks; Latin American Integration Association; Agreement on Reciprocal Payments and Credits;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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