<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672006000400047</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[La propuesta de convertibilidad de la cuenta de capital de Brasil y la experiencia argentina]]></article-title>
<article-title xml:lang="en"><![CDATA[The Proposal of Convertibility of the Account of Capital of Brazil and the Argentine Experience]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Cunha]]></surname>
<given-names><![CDATA[André Moreira]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ferrari]]></surname>
<given-names><![CDATA[Andrés]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ferrari Filho]]></surname>
<given-names><![CDATA[Fernando]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidade Federal do Rio Grande do Sul Departamento de Economía ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brazil</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,UFRGS  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brazil</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,UFRGS Departamento de Economía ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brazil</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2006</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2006</year>
</pub-date>
<volume>65</volume>
<numero>258</numero>
<fpage>47</fpage>
<lpage>84</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672006000400047&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672006000400047&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672006000400047&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: El presente artículo tiene como objetivo efectuar un análisis de los argumentos a favor de la propuesta de convertibilidad plena de la cuenta de capital en Brasil, concentrándose, básicamente, en los argumentos presentados por Arida, con base en la experiencia del Plan de Convertibilidad de Argentina en los años noventa. Nuestra hipótesis central es que la adopción de la convertibilidad plena de la cuenta de capital, lejos de contribuir a la estabilidad macroeconómica, como sugiere Arida, podría generar, muy probablemente, un mayor grado de inestabilidad en la economía brasileña, tal como se comprobó en Argentina a fines de 2001.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: This paper aims at presenting, in the light of the Convertibility Plan of Argentina in the 1990s, a critical analysis of the Persio Arida´s proposal of adopting currency convertibility in Brazil. The basic idea of the paper is to show that Persio Arida´s proposal, instead of reducing domestic interest rate and exchange rate volatility in Brazil and stabilizing capital flows, as he argues, can bring additionalinstability and, as a result, financial and exchange rate crisis to Brazilian economy. Argentina crisis in 2001 shows it.]]></p></abstract>
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