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                <term xml:lang="en">hyperinflation</term>
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              <p>The article proposes to define hyperinflation as the rejection of domestic currency in favour of a foreign currency in a context of high inflation. This rejection explains why these crises are also major political and institutional crises. Based on Post-Keynesian and structuralist theories, the analysis highlights the role played by distributional conflict, indexation, and external instability.</p>
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              <p>El artículo propone definir la hiperinflación como el rechazo de la moneda nacional en favor de una moneda extranjera en un contexto de elevada inflación. Este rechazo explica por qué estas crisis son también grandes crisis políticas e institucionales. Basándose en teorías poskeynesianas y estructuralistas, el análisis destaca el papel desempeñado por el conflicto distributivo, la indexación generalizada y la inestabilidad externa.</p>
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              <p>L’article propose de définir l’hyperinflation comme le rejet de la monnaie domestique au profit d’une devise dans un contexte de forte inflation. Ce rejet explique pourquoi ces crises sont aussi des crises politiques et institutionnelles majeures. Basée sur les théories post-keynésienne et structuraliste, l’analyse met en avant le rôle joué par le conflit de répartition, l’indexation généralisée et l’instabilité externe.</p>
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