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Currency Board In Argentina

Author

Listed:
  • Lukas Krupka

    (Prague University of Economics and Business)

Abstract

The paper deals with currency board system implementation and inflation development in Argentina in 1990s. Argentina’s development in the 20th century resulted in hyperinflation in 1980s and not-growing GDP. Argentina was, hence, in a state called stagflation. The president Menem implemented currency board system (fixed exchange rate system) to fight against hyperinflation there. The GARCH model proved the currency board was successful in decreasing the level of volatility in Argentina. The inflation in absolute numbers decreased too. Argentina, however, implemented so-called currency board-like system that does not follow all needed macroeconomic policy and institutional changes and therefore the model is not fully effective.

Suggested Citation

  • Lukas Krupka, 2021. "Currency Board In Argentina," Medzinarodne vztahy (Journal of International Relations), Ekonomická univerzita, Fakulta medzinárodných vzťahov, vol. 19(1), pages 48-62.
    • Handle: RePEc:brv:journl:v:19:y:2021:i:1:p:48-62
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    File URL: https://fmv.euba.sk/RePEc/brv/journl/mv2021-1.pdf
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    More about this item

    Keywords

    Argentina; currency board; inflation; stagflation; GARCH model; Menem;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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