Description: Exchange rate policy has profound consequences for economic development, financial crises, and international political conflict. Some governments in the developing world maintain excessively weak and "undervalued" exchange rates, a policy that promotes export-led development but often heightens tensions with foreign governments. Many other developing countries "overvalue" their exchange rates, which increases consumers' purchasing power but often reduces economic growth. In Demanding Devaluation, David Steinberg argues that the demands of powerful interest groups often dictate government decisions about the level of the exchange rate. Combining rich qualitative case studies of China, Argentina, South Korea, Mexico, and Iran with cross-national statistical analyses, Steinberg reveals that exchange rate policy is heavily influenced by a country's domestic political arrangements. Interest group demands influence exchange rate policy, and national institutional structures shape whether interest groups lobby for an undervalued or an overvalued rate. A country's domestic political system helps determine whether it undervalues its exchange rate and experiences explosive economic growth or if it overvalues its exchange rate and sees its economy stagnate as a result.
Price: 36.98 GBP
Location: Gloucester
End Time: 2025-01-28T20:41:23.000Z
Shipping Cost: 20.98 GBP
Product Images
Item Specifics
Return postage will be paid by: Buyer
Returns Accepted: Returns Accepted
After receiving the item, your buyer should cancel the purchase within: 60 days
Return policy details:
EAN: 9780801453847
UPC: 9780801453847
ISBN: 9780801453847
MPN: N/A
Book Title: Demanding Devaluation: Exchange Rate Politics in t
Item Length: 24.1 cm
Number of Pages: 288 Pages
Language: English
Publication Name: Demanding Devaluation: Exchange Rate Politics in the Developing World
Publisher: Cornell University Press
Publication Year: 2015
Subject: Economics
Item Height: 235 mm
Item Weight: 28 g
Type: Textbook
Author: David A. Steinberg
Series: Cornell Studies in Money
Item Width: 155 mm
Format: Hardcover
