The myth of convertibility

Vol. 24 No. 2 (2004)

Apr-Jun / 2004
Published April 1, 2004
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Belluzzo, Luiz Gonzaga, and Ricardo Carneiro. 2004. “The Myth of Convertibility”. Brazilian Journal of Political Economy 24 (2):221-25. https://doi.org/10.1590/0101-31572004-1624.
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The myth of convertibility

Luiz Gonzaga Belluzzo
Professor titular do Instituto de Economia da Universidade de Campinas – Unicamp, Campinas/SP, Brasil.
Ricardo Carneiro
Diretor executivo do Centro de Estudos de Conjuntura e Política Econômica da Universidade de Campinas – Unicamp
Brazilian Journal of Political Economy, Vol. 24 No. 2 (2004), Apr-Jun / 2004, Pages 221-225

Abstract

A critique to the proposal of making the real convertible. The convertibility does not eliminate the hierarchy of currencies in the global space and risk premium paid by the non-convertible currencies.

JEL Classification: E50.


Keywords: Currency convertibility hierarchy of currencies