Chile's Currency Devaluations In 1982-1983

From the Paper:

"Introduction

A series of dramatic currency devaluations occurred in Chile between the late-spring of 1982 and the early summer of 1983 (Gibson & Tsakalotos, 1994, pp. 578-628). The most dramatic of these devaluations occurred in September 1982. This research examines the conditions surrounding these devaluations.

Development of the Situation
Most South American countries adopted economic policies in the 1930s that provided for heavy government intervention, regulation, and protectionism (Burki & Edwards, 1995, pp. 6-9). The first to abandon these policies in favor of market-oriented reforms was Chile in the 1970s.

Prior to the military coup that brought General Pinochet to power in 1973, the Chilean state played a major role in managing the country's economy ..."

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