Foreign exchange black markets in Latin America:
"Examines how and why foreign exchange black (i.e., parallel) markets function, as well as their economic impact. Includes case studies for Argentina, Brazil, Colombia, Jamaica, and Peru. Valuable contribution represents one of the few in-depth studies of this topic"--Handbook of Latin Ame...
Saved in:
| Format: | Book |
|---|---|
| Language: | English |
| Published: |
Westport, Conn. u.a.
Praeger
1994
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Summary: | "Examines how and why foreign exchange black (i.e., parallel) markets function, as well as their economic impact. Includes case studies for Argentina, Brazil, Colombia, Jamaica, and Peru. Valuable contribution represents one of the few in-depth studies of this topic"--Handbook of Latin American Studies, v. 57.. - http://www.loc.gov/hlas/ |
| Physical Description: | XIV, 224 S. graph. Darst., Kt. |
| ISBN: | 0275947580 |
Staff View
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| 245 | 1 | 0 | |a Foreign exchange black markets in Latin America |c Robert E. Grosse with Clarice Pechman |
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Record in the Search Index
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|---|---|
| adam_text | CONTENTS
PREFACE xi
1. Introduction 1
Definition of Foreign Exchange Black Markets 1
Reasons for Their Existence 3
Institutional Characteristics of Forex Black Markets 4
Retail vs. Wholesale 5
Types of Users 6
Links to the Underground Economy 7
Classification of Countries 8
Main Questions to be Addressed in the Book 8
Key Conclusions 14
viii Contents
2. Historical and Cultural/Institutional Context of
Foreign Exchange Black Markets in Latin America 17
The Government as Impediment to
International Business 18
The Underground Economy in Latin America 19
Foreign Exchange Black Markets from
World War II to 1971 20
Foreign Exchange Black Markets During
the 1970s and 1980s 22
The Cultural Imperative of Black Markets 23
3. The Economics of Foreign Exchange Black Markets 31
Macroeconomic Implications 32
Market Characteristics 37
Exchange Market Equilibrium and Efficiency 43
Determination of the Black Market Exchange Rate 43
Overall Welfare Implications 47
4. Argentina 51
History 52
Institutional Description of the Black
Market (1987 1990) 57
Costs and Risks in the Black Market 64
Determinants of the Parallel Market Exchange Rate 65
Economic Implications of the Black
Market for Argentina 69
Contents ix
5. Brazil by Clarice Pechman 73
Historical Aspects and Profitability 75
Foreign Exchange Policy: From 1973 to 1992 81
The Brazilian Foreign Exchange System and
the Behavior of the Dollar in the Black Market 97
Sources of Dollars for the Black Market 101
The Model of the Black Market for Dollars 105
Seasonal Factors 110
Empirical Results of the Model 111
General Conclusions 116
6. Colombia 123
The Colombian Case 123
Structure and Functioning of the Black Market 125
Determination of the Black Market Exchange Rate 132
Implications of the Black Market for Colombia 136
7. Jamaica 143
Broad Characteristics of the Market 144
Distinguishing Features of Jamaica s Black Market 145
History of Foreign Exchange Markets 146
Institutional Description of the Black
Market, 1987 1991 147
Costs and Risks in the Black Market 160
1
x Contents
Determination of the Exchange Rate 161
Conclusions 165
8. Peru 169
Recent History of Peru s Foreign Exchange
Markets 170
Structure and Functioning of the Black Market
in the late 1980s 173
Determination of the Black Market Exchange Rate 179
The Model 180
Implications of the Black Market for Peru 183
9. Conclusions 189
Country Notes 190
Welfare Effects 192
Black Markets in the 1990s 194
APPENDIX 195
BIBLIOGRAPHY 219
INDEX 223
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| spelling | Foreign exchange black markets in Latin America Robert E. Grosse with Clarice Pechman 1. publ. Westport, Conn. u.a. Praeger 1994 XIV, 224 S. graph. Darst., Kt. txt rdacontent n rdamedia nc rdacarrier "Examines how and why foreign exchange black (i.e., parallel) markets function, as well as their economic impact. Includes case studies for Argentina, Brazil, Colombia, Jamaica, and Peru. Valuable contribution represents one of the few in-depth studies of this topic"--Handbook of Latin American Studies, v. 57.. - http://www.loc.gov/hlas/ Geschichte 1990-1994 gnd rswk-swf Foreign exchange Latin America Case studies Informal sector (Economics) Latin America Case studies Wechselkurs (DE-588)4064921-0 gnd rswk-swf Schwarzmarkt (DE-588)4180357-7 gnd rswk-swf Lateinamerika Lateinamerika (DE-588)4074032-8 gnd rswk-swf (DE-588)4522595-3 Fallstudiensammlung gnd-content Lateinamerika (DE-588)4074032-8 g Wechselkurs (DE-588)4064921-0 s Schwarzmarkt (DE-588)4180357-7 s Geschichte 1990-1994 z DE-604 Grosse, Robert E. Sonstige oth Pechman, Clarice Sonstige oth HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006764667&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Foreign exchange black markets in Latin America Foreign exchange Latin America Case studies Informal sector (Economics) Latin America Case studies Wechselkurs (DE-588)4064921-0 gnd Schwarzmarkt (DE-588)4180357-7 gnd |
| subject_GND | (DE-588)4064921-0 (DE-588)4180357-7 (DE-588)4074032-8 (DE-588)4522595-3 |
| title | Foreign exchange black markets in Latin America |
| title_auth | Foreign exchange black markets in Latin America |
| title_exact_search | Foreign exchange black markets in Latin America |
| title_full | Foreign exchange black markets in Latin America Robert E. Grosse with Clarice Pechman |
| title_fullStr | Foreign exchange black markets in Latin America Robert E. Grosse with Clarice Pechman |
| title_full_unstemmed | Foreign exchange black markets in Latin America Robert E. Grosse with Clarice Pechman |
| title_short | Foreign exchange black markets in Latin America |
| title_sort | foreign exchange black markets in latin america |
| topic | Foreign exchange Latin America Case studies Informal sector (Economics) Latin America Case studies Wechselkurs (DE-588)4064921-0 gnd Schwarzmarkt (DE-588)4180357-7 gnd |
| topic_facet | Foreign exchange Latin America Case studies Informal sector (Economics) Latin America Case studies Wechselkurs Schwarzmarkt Lateinamerika Fallstudiensammlung |
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