Anchors away: The cost and benefits of Brazil's devaluation

Edmund Amann, Werner Baer

Research output: Contribution to journalArticlepeer-review


This paper analyzes the impact of Brazil's devaluation in 1999. This event represents an abandonment of the exchange rate anchor which had been used as a stabilization plan since the introduction of the Real Plan in 1994. The reasons behind the abandonment of the exchange rate anchor are determined as well as the explanation for its benign impact.

Original languageEnglish (US)
Pages (from-to)1033-1046
Number of pages14
JournalWorld Development
Issue number6
StatePublished - Jun 2003

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Development
  • Sociology and Political Science
  • Economics and Econometrics

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