The recent integration affords are being hampered by the inconsistency of macroeconomic policies. In this paper an exercise of shared sovereignty is discussed. A special emphasis is given to exchange rate. The idea is to achieve macroeconomic stability.
KEYWORDS:
Sovereignty; Latin America; macroeconomic stability
| Ano | Argentina | Brasil | Chile | México | Paraguai | Uruguai | Venez. |
|---|---|---|---|---|---|---|---|
| 1970 | 1 3. 6 | 17.0 | 33.0 | 5.2 | -0.7 | 17.0 | 2.5 |
| 1971 | 34.8 | 21.1 | 19.2 | 5.3 | 4.8 | 24.0 | 3.2 |
| 1972 | 58.4 | 17.8 | 77.3 | 5.0 | 9.5 | 76.5 | 2.0 |
| 1973 | 61.2 | 15.5 | 353.6 | 12.0 | 12.5 | 97.0 | 4.1 |
| 1974 | 23.5 | 34.5 | 504.7 | 23.8 | 25.2 | 77.2 | 8.3 |
| 1975 | 182.3 | 29.4 | 374.7 | 15.2 | 6.8 | 81.4 | 10.3 |
| 1976 | 443.2 | 46.3 | 211.8 | 15.8 | 4.6 | 50.6 | 7.6 |
| 1977 | 176.1 | 38.8 | 91.9 | 29.0 | 9.3 | 58.2 | 7.8 |
| 1978 | 175.5 | 40.8 | 41.1 | 17.5 | 10.6 | 44.5 | 7.1 |
| 1979 | 159.5 | 77.2 | 33.4 | 18.2 | 28.3 | 66.8 | 12.4 |
| 1980 | 100.8 | 110.2 | 35.1 | 26.4 | 22.4 | 63.5 | 21.5 |
| 1981 | 104.5 | 95.2 | 19. 7 | 27.9 | 14.0 | 34.0 | 16.2 |
| 1982 | 164.8 | 99.7 | 9.9 | 58.9 | 6.8 | 19.0 | 9.6 |
| 1983 | 343.8 | 221.0 | 27.3 | 101.8 | 13.4 | 49.2 | 6.3 |
| 1984 | 626.7 | 233.8 | 19.9 | 65.5 | 20.3 | 55.3 | 12.2 |
| 1985 | 672.1 | 235.1 | 30.7 | 57.7 | 25.2 | 77.2 | 11.4 |
| 1986 | 90.1 | 65.0 | 19.5 | 86.2 | 31.7 | 76.4 | 11.5 |
| 1987 | 131.3 | 415.8 | 19.9 | 131.8 | 21.8 | 63.6 | 28.1 |
| 1988 | 343.0 | 1.037.6 | 14.7 | 114.2 | 24.5 | 62.2 | 29.5 |
| 1989 | 3.079.3 | 1.782.9 | 17.0 | 20.0 | 26.2 | 80.4 | 84.2 |
| 1990 | 1.832.5 | 1.476.6 | 29.4 | 30.2 | 42.7 | 129.8 | 32.2 |
| PAÍS | 1981 | 1982 | 1985 | 1986 | 1987 | 1988 | 1989 |
|---|---|---|---|---|---|---|---|
| Argentina | -8.3 | -7.1 | -5.7 | 4.6 | 0.8 | -4.1 | -5.7 |
| Bolívia | -1. 7 | -6.8 | -3.4 | -4.9 | 0.1 | 0.5 | 0.2 |
| Brasil | -6.5 | -1.6 | 6.1 | 5.2 | 1.5 | -2.1 | 1.5 |
| Colômbia | 0.1 | -1.1 | 1. 7 | 4.8 | 3.5 | 1. 7 | 1.4 |
| Costa Rica | -5.3 | -9.9 | -2.1 | 2.4 | 1.7 | 0.6 | 2.8 |
| Chile | 4.1 | -14.1 | 0.5 | 3.7 | 3.6 | 5.4 | 7.7 |
| Equador | 0.9 | -1. 7 | 2.1 | 0.7 | -11.8 | 12.5 | -2.8 |
| EI Salvador | -9.6 | -6.5 | 0.5 | -1.2 | 0.8 | -0.5 | -1.1 |
| Guatemala | -2.4 | -6.5 | -3.0 | -2.4 | 0.8 | 1.0 | 1. 1 |
| Haiti | -4.5 | -5.2 | -1.5 | -1.0 | -1.9 | -0.8 | -1.3 |
| Honduras | -2.7 | -5.4 | -1.5 | 1.3 | 1.2 | 1. 7 | -0.8 |
| México | 6.1 | -3.0 | 0.2 | -5.9 | -0:6 | -0.9 | 0.8 |
| Nicarágua | 2.0 | -4.0 | -7.3 | -4.3 | -4.0 | -13.9 | -6.1 |
| Panamá | 1.7 | 2.7 | 2.6 | 1.3 | -0.1 | -17.7 | -2.7 |
| Paraguai | 5.3 | -4.0 | 0.9 | -3.3 | 1.4 | 3.6 | 2.9 |
| Peru | 1.6 | -2.3 | -0.3 | 6.0 | 5.3 | -10.3 | -13.1 |
| Rep. Dominicana | 1.5 | -1.1 | -4.1 | 0.8 | 5.3 | -1.1 | 2.4 |
| Uruguai | 0.8 | -10.6 | -0.4 | 7.2 | 5.8 | -0.4 | 0.7 |
| Venezuela | -4.0 | -4.0 | -2.8 | 4.0 | 2.3 | 3.3 | -6.7 |
| Barbados | -2.3 | -5.5 | 0.6 | 5.1 | 2.8 | 3.0 | 4.1 |
| Guiana | -1.5 | -11.6 | 0.4 | o.o | 0.6 | -2.9 | -5.1 |
| Jamaica | 1.0 | -1.7 | -6.8 | 0.9 | 5.4 | -0.1 | 5.1 |
| Trinidad Tobago | -1. 7 | -1.4 | -3.1 | -3.7 | -8.1 | -5.3 | -2.9 |
| TOTAL | -1.9 | -3.5 | 1.2 | 1.5 | 0.9 | -1.2 | -0.4 |
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Fonte: Fundo Monetário Internacional.
Fonte: Fundo Monetário Internacional.
Fonte: Fundo Monetário Internacional.
Fonte: Fundo Monetário Internacional.
Fonte: Fundo Monetário Internacional.
Fonte: Fundo Monetário Internacional.
Fonte: Cacex
Fonte: CEPAL, Anuario Estadistico, Edición 1990.
Fonte: CACEX.
Fonte: CACEX.