A instabilidade do sistema monetário internacional e estratégias recentes dos países emergentes

Autores

Palavras-chave:

Sistema Monetário Internacional; países emergentes; gestão de fluxos de capitais; cooperação monetária, rede global de proteção financeira

Resumo

A crise global deflagrada em 2007/2008 impulsionou iniciativas de mudançasno sistema monetário internacional (SMI). É defendido neste artigoque é possível encontrar padrões nas estratégias dos países emergentes (PEs) desde a década de 1990 e mais acentuadamente após a crise de 2008, que indicaria o desejo destes por um SMI mais estável, especialmente no que se refere aos fluxos financeiros internacionais. Para isso, além de medidas individuais, os maiores PEs fortaleceram as iniciativas de cooperação e pressionaram por alterações nas instituições econômicas internacionais (IEI). São analisados dois conjuntos de medidas. O primeiro se refere àchamada rede global de proteção financeira (global financial safety net - GFSN). O segundo está relacionado às medidas de gestão sobre os fluxos de capitais. Enquanto o primeiro conjunto atua no sentido de mitigar os impactos negativos das instabilidades dos fluxos de capitais, o segundo tem por objetivo reduzir as instabilidades em si. Concluímos que, embora o fortalecimento da GFSN tenha sido importante para amortecer os choques negativos, ela se mostrou insuficiente frente àsvicissitudes inerentes aos ciclos de liquidez internacional e por isso a adoção de medidas de gestão de fluxos de capitais ainda se faz necessária.

Biografia do Autor

Mauricio Andrade Weiss, UFRGS

Prof. Adjunto do Departamento de Economia e Relações Internacionais da Universidade Federal do Rio Grande do Sul (UFRGS). Prof. Permanente do Programa de Mestrado Profissional de Econoima da Universidade Federal do Rio Grande do Sul (UFRGS). E-mail: mauricio.weiss@ufrgs.br. 

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Publicado

2020-12-27