• UCL Twitter account
  • UCL YouTube channel
  • UCL Facebook page
  • UCL SoundCloud channel
  • UCL iTunes store

Information for Staff


Select dates to view past and future events

18:00 - 19:30 14 March 2017

The Multiple Exchange Rate system and Import Substitution Industrialization


Seminar Room 105 | UCL – Institute of the Americas (link Map)
51 Gordon Square | London | WC1H 0PQ | United Kingdom

Open to: Alumni | Public | Academic | Student
Admission: 0
Ticketing: Pre-booking essential

Speaker information

Bernardo Wjuniski, PhD candidate, LSE

Between 1953 and 1961, during the golden Age of Brazil’s Industrialization, the country adopted a unique system of Multiple Exchange Rates (MER), which was used to distribute foreign exchange to the economy via an auctions mechanism. The MER successfully managed to stabilize the country’s macroeconomic conditions, but is also at the same time seen as one of the major instruments used to support Import Substitution Policies, since it restricted imports of many sectors.

Using a new dataset collected from the period, as well as qualitative material, this presentation will explain the the mechanics of the MER system and look at depth at its relationship with Import Substitution Industrialization.


Oscar Martinez
+44 (0)2031089721 | ucl-ia@ucl.ac.uk


More information