Exchange Rate Parity for Trade and Development: Theory, Tests, and Case Studies - Couverture rigide

Yotopoulos, Pan A.

Couverture rigide

ISBN 10 : 052148216X ISBN 13 : 9780521482165

Editeur : Cambridge University Press, 1995

Synopsis

Yotopoulos investigates the appropriate balance between the market and state in the trade relations between developed and developing countries.

A propos du livre

Présentation de l'éditeur

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.

Revue de presse

'I thoroughly enjoyed reading this book and found it most stimulating. What a pleasure it is to read careful empirical work by an author who worries about what his data mean ... I find the basic analysis interesting and quite convincing in positive terms.' Alan Winters, International Trade Division, The World Bank

Détails de l'édition

• Éditeur: Cambridge University Press
• Date d'édition: 1995
• Langue: anglais
• ISBN 10: 052148216X
• ISBN 13: 9780521482165
• Reliure: Relié
• Nombre de pages: 344
• Coordonnées du fabricant: non disponible
• Personne responsable: Avery; https://www.avery.fr/; ; chemin des peupliers 27; Dardilly; France