Exchange Rate Parity for Trade and Development

Name: Exchange Rate Parity for Trade and Development
Brand: Cambridge University Press
SKU: 9780521482165
Price: 431.34 RON
Availability: InStock

Theory, Tests, and Case Studies

Autor: Pan A. Yotopoulos

Limbă:

Legare: Copertă tare

Editura: Cambridge University Press

Disponibilitate: În depozitul extern

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This book extends recent theories of incomplete markets to investigate empirically the appropriate b...

Informații despre carte

Autor

Pan A. Yotopoulos

Limbă

engleză

Legare

Carte - Copertă tare

Publicat

1995

Pagini

344

EAN

9780521482165

ISBN

052148216X

Enbook ID

02032644

Editura

Cambridge University Press

Greutate

664

Dimensiuni

152 x 229 x 24

Descriere completă

This book extends recent theories of incomplete markets to investigate empirically the appropriate balance between the market and the state in the trade relations between developed and developing countries. The conclusion is that in an ideal world government intervention in foreign exchange and trade is necessary in developing countries in the early stages and inevitably decreases as development occurs. Rationing of foreign exchange prevents a 'soft currency distortion' that commonly afflicts developing countries and can turn comparative advantage trade into competitive devaluation trade, with severe losses of income and welfare. Yotopoulos finds that the level of underdevelopment narrowly circumscribes and conditions the extent to which free-market, free-trade, laissez-faire can be beneficial, contrary to the mainstream policy paradigm as currently applied. The analysis and tests draw on empirical research from seventy countries and four extended country studies to confirm the usefulness and validity of the theoretical framework.

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Exchange Rate Parity for Trade and Development

Theory, Tests, and Case Studies

Informații despre carte

Descriere completă

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