Demanding Devaluation: Exchange Rate Politics in the Developing World Contributor(s): Steinberg, David A. (Author) |
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ISBN: 0801453844 ISBN-13: 9780801453847 Publisher: Cornell University Press OUR PRICE: $54.40 Product Type: Hardcover - Other Formats Published: May 2015 |
Additional Information |
BISAC Categories: - Political Science | Political Economy - Business & Economics | Foreign Exchange - Political Science | Public Policy - Economic Policy |
Dewey: 332.456 |
LCCN: 2014039460 |
Series: Cornell Studies in Money |
Physical Information: 0.9" H x 6.3" W x 9.5" (1.10 lbs) 288 pages |
Descriptions, Reviews, Etc. |
Publisher 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. |
Contributor Bio(s): Steinberg, David A.: - David A. Steinberg is Assistant Professor of International Political Economy at The Johns Hopkins University's School of Advanced International Studies in Washington, D.C. |