Regímenes cambiarios y su influencia en la inflación y el crecimiento económico: El caso de Costa Rica
Fecha
2022-09-27
Autores
Venegas Vega, Anthony Ignacio
Serrano Jiménez, Hillary Dayanna
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Editor
Universidad Nacional, Costa Rica
Resumen
Los diferentes modelos que buscar explicar el crecimiento económico, indican diferentes
causas, que pueden agruparse en causas próximas, donde destacan la cantidad y calidad de
los factores de producción, capital físico y capital humano, así como la tecnología disponible;
y, por otro lado, causas fundamentales, que hacen referencia a la calidad de las instituciones,
entendidas como la decisión que toma una sociedad sobre la forma en que se organiza para
incentivar la creatividad, para promover el emprendimiento y la búsqueda permanente de la
eficiencia, proveer seguridad jurídica que garantice que los conflictos se resuelven de acuerdo
con la Ley, que se definan los derechos de propiedad y que exista un acceso relativamente
igualitario a las oportunidades económicas para un grupo amplio y diverso de la población.
La política monetaria es solo un componente de la política económica en un país, cuya
principal contribución a esa búsqueda del bienestar social es mantener la estabilidad
macroeconómica, puesto que de esa forma se genera un entorno apropiado para que otras
áreas de la política pública, así como iniciativas privadas, alcancen resultados coherentes con
mayor eficiencia, equidad y bienestar de la población. Un pilar fundamental de la estabilidad
macroeconómica es una inflación baja y estable, esta promueve la estabilidad de otros
macroprecios (tasas de interés, tipo de cambio y salarios), protege el poder adquisitivo de la
población, en especial de los segmentos con ingresos bajos y fijos, reduce los costos de
información y transacción y facilita el cálculo económico y el proceso de formación de
expectativas. Esto incide positivamente en la producción y en la generación de empleo.
Como parte de la política monetaria se tiene la definición de una política cambiaria, que sea
coherente con los objetivos de la primera. Esta política cambiaria para a determinar el
abordaje que haga un país, concretamente un banco central, sobre el mercado cambiario y, a
partir de eso, la determinación del tipo de cambio, es decir, la determinación del precio de
una divisa (dólar, por ejemplo) en términos de la moneda local.
Esta investigación va a tratar de estudiar la influencia de los diferentes régimenes cambiarios
que ha tenido el país, sobre la estabilidad de precios y, consecuentemente, con la estabilidad
macroeconómica y así con el crecimiento económico.
The different models that seek to explain economic growth indicate different causes, which can be grouped into proximate causes, where the quantity and quality of the factors of production, physical capital and human capital, as well as the available technology; and, on the other hand, fundamental causes, which refer to the quality of institutions, understood as the decision that a society makes about the way in which it is organized to encourage creativity, to promote entrepreneurship and the permanent search for efficiency, provide legal certainty that guarantees that conflicts are resolved in accordance with the Law, that property rights are defined and that there is relatively equal access to economic opportunities for a large and diverse group of the population. Monetary policy is only one component of economic policy in a country, whose main contribution to this search for social welfare is to maintain stability macroeconomic, since in this way an appropriate environment is generated so that other areas of public policy, as well as private initiatives, achieve results consistent with greater efficiency, equity and welfare of the population. A fundamental pillar of stability macroeconomic is a low and stable inflation, this promotes the stability of other macro prices (interest rates, exchange rate and wages), protects the purchasing power of the population, especially of the segments with low and fixed incomes, reduces the costs of information and transaction and facilitates the economic calculation and the process of formation of expectations. This has a positive effect on production and job creation. As part of the monetary policy, there is the definition of an exchange rate policy, which is consistent with the objectives of the first. This exchange policy to determine the approach made by a country, specifically a central bank, on the foreign exchange market and, From that, the determination of the exchange rate, that is, the determination of the price of a currency (dollar, for example) in terms of the local currency. This research will try to study the influence of the different exchange rate regimes that the country has had, on the stability of prices and, consequently, with the stability macroeconomic and so with economic growth.
The different models that seek to explain economic growth indicate different causes, which can be grouped into proximate causes, where the quantity and quality of the factors of production, physical capital and human capital, as well as the available technology; and, on the other hand, fundamental causes, which refer to the quality of institutions, understood as the decision that a society makes about the way in which it is organized to encourage creativity, to promote entrepreneurship and the permanent search for efficiency, provide legal certainty that guarantees that conflicts are resolved in accordance with the Law, that property rights are defined and that there is relatively equal access to economic opportunities for a large and diverse group of the population. Monetary policy is only one component of economic policy in a country, whose main contribution to this search for social welfare is to maintain stability macroeconomic, since in this way an appropriate environment is generated so that other areas of public policy, as well as private initiatives, achieve results consistent with greater efficiency, equity and welfare of the population. A fundamental pillar of stability macroeconomic is a low and stable inflation, this promotes the stability of other macro prices (interest rates, exchange rate and wages), protects the purchasing power of the population, especially of the segments with low and fixed incomes, reduces the costs of information and transaction and facilitates the economic calculation and the process of formation of expectations. This has a positive effect on production and job creation. As part of the monetary policy, there is the definition of an exchange rate policy, which is consistent with the objectives of the first. This exchange policy to determine the approach made by a country, specifically a central bank, on the foreign exchange market and, From that, the determination of the exchange rate, that is, the determination of the price of a currency (dollar, for example) in terms of the local currency. This research will try to study the influence of the different exchange rate regimes that the country has had, on the stability of prices and, consequently, with the stability macroeconomic and so with economic growth.
Descripción
Palabras clave
COSTA RICA, POLÍTICA MONETARIA, MONETARY POLITICS, TIPO DE CAMBIO, EXCHANGE RATE, CRECIMIENTO ECONÓMICO, ECONOMIC GROWTH, INFLACIÓN, INFLATION