The Latin-American monetary system after the end of inflation

ABSTRACT This paper discusses three interdependent topics. The first is that the economic reforms implemented in Latin America after the mid-1980s were not sufficient to ensure exchange rate stability in the region. The second is that there are favorable conditions to start the process of macroeconomic convergence between Latin American countries. The third topic refers to the strategic role to be played by Argentina, Brazil, Canada, and Mexico as reducing the degree of asymmetry generated by the presence of the American economy.

摘要 本文探讨了三个相互关联的议题。其一，1980年代中期后拉丁美洲地区推行的经济改革，并不足以保障该区域的汇率稳定。其二，拉美各国间已具备开启宏观经济趋同进程的有利条件。其三，阿根廷、巴西、加拿大与墨西哥应发挥战略作用，以削弱美国经济存在所引发的非对称性程度。