Exchange rate parity for trade and development: theory, tests, and case studies
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...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge
Cambridge University Press
1996
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| Schlagworte: | |
| 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 |
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| 246 | 1 | 3 | |a Exchange Rate Parity for Trade & Development |
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| 505 | 8 | |a 1. Introduction -- 2. Trade and development: The contours of the landscape -- 3. Incomplete markets and the "new development economics" -- 4. Market incompleteness in an open-economy LDC -- 5. The relationship between real and nominal exchange rates -- 6. Empirical investigation of real exchange rates: Tradability and relative prices -- 7. An endogenous growth model of incomplete markets in foreign exchange -- 8. Are devaluations possibly contractionary? A quasi-Australian model with tradables and nontradables -- 9. Japan: Overvaluation without rent-seeking -- 10. The Philippines: Failure in policy and politics -- 11. Financial integration and the refractory role of intervention: Uruguay and Taiwan -- 12. Summary, conclusions, and policy recommendations | |
| 520 | |a 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 | ||
| 648 | 7 | |a Geschichte 1950-1992 |2 gnd |9 rswk-swf | |
| 650 | 4 | |a Entwicklungsländer | |
| 650 | 4 | |a Wirtschaftsentwicklung | |
| 650 | 4 | |a Foreign exchange rates / Developing countries | |
| 650 | 4 | |a Economic development | |
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Datensatz im Suchindex
| _version_ | 1804176855746478080 |
|---|---|
| any_adam_object | |
| author | Yotopoulos, Pan A. |
| author_facet | Yotopoulos, Pan A. |
| author_role | aut |
| author_sort | Yotopoulos, Pan A. |
| author_variant | p a y pa pay |
| building | Verbundindex |
| bvnumber | BV043927214 |
| classification_rvk | QM 331 |
| collection | ZDB-20-CBO |
| contents | 1. Introduction -- 2. Trade and development: The contours of the landscape -- 3. Incomplete markets and the "new development economics" -- 4. Market incompleteness in an open-economy LDC -- 5. The relationship between real and nominal exchange rates -- 6. Empirical investigation of real exchange rates: Tradability and relative prices -- 7. An endogenous growth model of incomplete markets in foreign exchange -- 8. Are devaluations possibly contractionary? A quasi-Australian model with tradables and nontradables -- 9. Japan: Overvaluation without rent-seeking -- 10. The Philippines: Failure in policy and politics -- 11. Financial integration and the refractory role of intervention: Uruguay and Taiwan -- 12. Summary, conclusions, and policy recommendations |
| ctrlnum | (ZDB-20-CBO)CR9780511549212 (OCoLC)967487954 (DE-599)BVBBV043927214 |
| dewey-full | 332.4/56/091724 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.4/56/091724 |
| dewey-search | 332.4/56/091724 |
| dewey-sort | 3332.4 256 591724 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1017/CBO9780511549212 |
| era | Geschichte 1950-1992 gnd |
| era_facet | Geschichte 1950-1992 |
| format | Electronic eBook |
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| id | DE-604.BV043927214 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:38:49Z |
| institution | BVB |
| isbn | 9780511549212 |
| language | English |
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| spelling | Yotopoulos, Pan A. Verfasser aut Exchange rate parity for trade and development theory, tests, and case studies Pan A. Yotopoulos Exchange Rate Parity for Trade & Development Cambridge Cambridge University Press 1996 1 online resource (xvii, 323 pages) txt rdacontent c rdamedia cr rdacarrier Title from publisher's bibliographic system (viewed on 05 Oct 2015) 1. Introduction -- 2. Trade and development: The contours of the landscape -- 3. Incomplete markets and the "new development economics" -- 4. Market incompleteness in an open-economy LDC -- 5. The relationship between real and nominal exchange rates -- 6. Empirical investigation of real exchange rates: Tradability and relative prices -- 7. An endogenous growth model of incomplete markets in foreign exchange -- 8. Are devaluations possibly contractionary? A quasi-Australian model with tradables and nontradables -- 9. Japan: Overvaluation without rent-seeking -- 10. The Philippines: Failure in policy and politics -- 11. Financial integration and the refractory role of intervention: Uruguay and Taiwan -- 12. Summary, conclusions, and policy recommendations 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 Geschichte 1950-1992 gnd rswk-swf Entwicklungsländer Wirtschaftsentwicklung Foreign exchange rates / Developing countries Economic development Mathematisches Modell (DE-588)4114528-8 gnd rswk-swf Währungsparität (DE-588)4188823-6 gnd rswk-swf Developing countries / Commercial policy Entwicklungsländer (DE-588)4014954-7 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 g Währungsparität (DE-588)4188823-6 s Mathematisches Modell (DE-588)4114528-8 s Geschichte 1950-1992 z 1\p DE-604 Erscheint auch als Druckausgabe 978-0-521-02262-0 Erscheint auch als Druckausgabe 978-0-521-48216-5 https://doi.org/10.1017/CBO9780511549212 Verlag URL des Erstveröffentlichers Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Yotopoulos, Pan A. Exchange rate parity for trade and development theory, tests, and case studies 1. Introduction -- 2. Trade and development: The contours of the landscape -- 3. Incomplete markets and the "new development economics" -- 4. Market incompleteness in an open-economy LDC -- 5. The relationship between real and nominal exchange rates -- 6. Empirical investigation of real exchange rates: Tradability and relative prices -- 7. An endogenous growth model of incomplete markets in foreign exchange -- 8. Are devaluations possibly contractionary? A quasi-Australian model with tradables and nontradables -- 9. Japan: Overvaluation without rent-seeking -- 10. The Philippines: Failure in policy and politics -- 11. Financial integration and the refractory role of intervention: Uruguay and Taiwan -- 12. Summary, conclusions, and policy recommendations Entwicklungsländer Wirtschaftsentwicklung Foreign exchange rates / Developing countries Economic development Mathematisches Modell (DE-588)4114528-8 gnd Währungsparität (DE-588)4188823-6 gnd |
| subject_GND | (DE-588)4114528-8 (DE-588)4188823-6 (DE-588)4014954-7 |
| title | Exchange rate parity for trade and development theory, tests, and case studies |
| title_alt | Exchange Rate Parity for Trade & Development |
| title_auth | Exchange rate parity for trade and development theory, tests, and case studies |
| title_exact_search | Exchange rate parity for trade and development theory, tests, and case studies |
| title_full | Exchange rate parity for trade and development theory, tests, and case studies Pan A. Yotopoulos |
| title_fullStr | Exchange rate parity for trade and development theory, tests, and case studies Pan A. Yotopoulos |
| title_full_unstemmed | Exchange rate parity for trade and development theory, tests, and case studies Pan A. Yotopoulos |
| title_short | Exchange rate parity for trade and development |
| title_sort | exchange rate parity for trade and development theory tests and case studies |
| title_sub | theory, tests, and case studies |
| topic | Entwicklungsländer Wirtschaftsentwicklung Foreign exchange rates / Developing countries Economic development Mathematisches Modell (DE-588)4114528-8 gnd Währungsparität (DE-588)4188823-6 gnd |
| topic_facet | Entwicklungsländer Wirtschaftsentwicklung Foreign exchange rates / Developing countries Economic development Mathematisches Modell Währungsparität Developing countries / Commercial policy |
| url | https://doi.org/10.1017/CBO9780511549212 |
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