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Exchange Rate Parity for Trade and Development

Engels | Druk: New edition | Paperback | 9780521022620 | 344 pagina's

Pan A. Yotopoulos - 9780521022620

 

Engels | Druk: New edition | Paperback | 9780521022620 | 344 pagina's

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 Engels | Druk: New edition | Paperback | 9780521022620 | 344 pagina's
TaalEngels
BindwijzePaperback
DrukNew edition
Verschijningsdatumnovember 2005
Afmetingen23,5 x 16 x 2,8 cm
Aantal pagina's344 pagina's
IllustratiesMet illustraties
AuteurPan A. Yotopoulos
UitgeverCambridge University Press
Originele TitelExchange Rate Parity for Trade and Development: Theory, Tests, and Case Studies
Extra groot lettertypeNee
Gewicht516 g
Verpakking breedte154 mm
Verpakking hoogte211 mm
Verpakking lengte229 mm



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