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 trad...

Ausführliche Beschreibung

Bibliographische Detailangaben

1. Verfasser:	Yotopoulos, Pan A. (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Cambridge Cambridge University Press 1996
Schlagworte:	Geschichte 1950-1992 Entwicklungsländer Wirtschaftsentwicklung Foreign exchange rates / Developing countries Economic development Mathematisches Modell Währungsparität Developing countries / Commercial policy
Online-Zugang:	BSB01 UBG01 Volltext
Zusammenfassung:	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
Beschreibung:	Title from publisher's bibliographic system (viewed on 05 Oct 2015)
Beschreibung:	1 online resource (xvii, 323 pages)
ISBN:	9780511549212
DOI:	10.1017/CBO9780511549212