@article{Gontijo_1995, title={Stabilization policies and trade liberalization: a comparative analysis of Chile, Argentina and Mexico’s experiences}, volume={15}, url={https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1224}, DOI={10.1590/0101-31572000-0808}, abstractNote={<p>This article examines Chile’s 1976-81, Argentina’s 1987-92, and Mexico’s 1982-92 stabilization experiences. In these three cases high inflation was curbed after orthodox stabilization policies with liberal structural reforms had been followed by using a fixed exchange rate as an “anchor” for the price level. It suggests the existence of a trade off between internal and external equilibria. Orthodox stabilization policies can be very successful in equilibrating the balance-of-payment without producing price level stability. In contrast, curbing high inflation may require fixing the exchange rate, which, combined with trade liberalization, may produce huge commercial deficits.</p> <p><strong>JEL Classification:</strong></p>}, number={1}, journal={Brazilian Journal of Political Economy}, author={Gontijo, Cláudio}, year={1995}, month={Jan.}, pages={41-57} }