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oai:www.ideals.illinois.edu:2142/21025 2023-07-10 col_2142_5131 col_2142_14830 com_2142_5130 com_2142_14829 com_2142_8903

Baer, Werner W. Breuer, Luis E. 2011-05-07T12:56:09Z 2011-05-07T12:56:09Z 10000-01-01 1989 The Bolivian hyperinflation of 1984-1985 stands out as one of the most dramatic inflation phenomena in world history. In the 12-month period preceding August 1985, the price level increased by more than 20,000 percent. This dissertation examines the Bolivian hyperinflation and stabilization processes in the period between 1984 and 1986. Before turning to Bolivia, however, four European hyperinflations of the 1920s are examined with the aim of establishing a benchmark against which the Bolivian experience in compared. The main events that contributed to the extreme price increases were the country's cutoff from international capital markets in the early 1980s and the policymakers' inability to adjust to the new economic environment. The latter led to sharp reductions in tax receipts to the point where the government was financing most of its expenditures with money creation. Stabilization policy included orthodox contractionary monetary and fiscal policies, in sharp contrast to the recent and unsuccessful stabilization attempts in Argentina (Plan Austral) and Brazil (Plano Cruzado). Both challenges to the implementation of the stabilization program and the winners and losers of the latter are identified. The concluding chapter compares the Bolivian experience with four hyperinflations in Europe during the 1920s extracting lessons from the former. Made available in DSpace on 2011-05-07T12:56:09Z (GMT). No. of bitstreams: 2 license.txt: 4922 bytes, checksum: 910b249b4beec47e7ab768910c8f966f (MD5) 8924776.pdf: 9443017 bytes, checksum: 5eded1a446baa6cfd318da04869671b4 (MD5) Previous issue date: 1989 Item marked as restricted to the 'UIUC Users [automated]' Group (id=2) by Howard Ding (hding2@illinois.edu) on 2011-05-07T14:47:58Z Item is restricted indefinitely. Restriction data tranferred 2014-07-01T11:21:42-05:00 Original Data Group with Access UIUC Users [automated] Release Date: none Reason: ETDs are only available to UIUC Users without author permission ETDs are only available to UIUC Users without author permission U of I Only AAI8924776 (UMI)AAI8924776 http://hdl.handle.net/2142/21025 eng Copyright 1989 Breuer, Luis E. Economics, General Hyperinflation and stabilization: The case of Bolivia (1984-1986) text Economics Economics University of Illinois at Urbana-Champaign Dissertation Ph.D.