Exchange Rate Parity for Trade and Development
Language: English
Published by Cambridge University Press, 1995
- Hardcover
- New
Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH
AbeBooks seller since August 14, 2006
Condition: New
£ 110.53
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Add to basketItem description from seller
Druck auf Anfrage Neuware - Printed after ordering - 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.…
Seller Inventory # 9780521482165
- Title
- Exchange Rate Parity for Trade and Development
- Author
- Pan A. Yotopoulos
- Publisher
- Cambridge University Press
- Publication year
- 1995
- Condition
- Neu
- Binding
- Buch
- Language
- English
- ISBN 10
- 052148216X
- ISBN 13
- 9780521482165
- Item weight
- 710 grams
- Dimensions
- 235x157x25 mm
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