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Author: David Denoon
Publisher: MIT Press (MA)
ISBN: 9780262040839
Category : Business & Economics
Languages : en
Pages : 260
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Book Description
Devaluation Under Pressure illustrates the options open to a developing country's political leaders when faced with a balance of payments crisis. It focuses on the practical problems that policymakers have in planning and implementing a currency devaluation and is based not only on the usual secondary works but also on interviews with some of the policymakers involved and on primary, classified documents. The book presents unique historical information about decision-making in India, Indonesia, and Ghana. The chapter on India, for example, summarizes the Woods-Mehta Agreement which committed the Indian Government to major policy changes that were not implemented. The precise text of this agreement is still being closely held. And the Ghana chapter includes correspondence between the author and former Prime Minister Busia who was able to review the material and provided his perspective on the devaluation and the subsequent coup which overthrew him. Although the current international financial regime is called a flexible exchange rate system, virtually all less-developed countries peg their currencies to one of the major reserve currencies and must be ready to adapt to the short-term and long-term oscillations of that currency. So the question of devaluation is a pressing issue. Also, devaluations are frequently one part of a package of policy measures that LDCs must implement in order to qualify for resources from the International Monetary Fund, private banks, and various aid donors. The three case studies of currency devaluation decisions presented here represent historically significant examples of such devaluations under pressure. The similarities and differences of the same economic policy choice in India (1966), Indonesia (1970), and Ghana (1971) have enabled the author to generalize about what drives a country to devalue its currency, the determinants of a devaluation's success, and what the critical stages are in the devaluation process. David Denoon is Associate Professor of Politics and Economics at New York University.
Author: David Denoon
Publisher: MIT Press (MA)
ISBN: 9780262040839
Category : Business & Economics
Languages : en
Pages : 260
Get Book Here
Book Description
Devaluation Under Pressure illustrates the options open to a developing country's political leaders when faced with a balance of payments crisis. It focuses on the practical problems that policymakers have in planning and implementing a currency devaluation and is based not only on the usual secondary works but also on interviews with some of the policymakers involved and on primary, classified documents. The book presents unique historical information about decision-making in India, Indonesia, and Ghana. The chapter on India, for example, summarizes the Woods-Mehta Agreement which committed the Indian Government to major policy changes that were not implemented. The precise text of this agreement is still being closely held. And the Ghana chapter includes correspondence between the author and former Prime Minister Busia who was able to review the material and provided his perspective on the devaluation and the subsequent coup which overthrew him. Although the current international financial regime is called a flexible exchange rate system, virtually all less-developed countries peg their currencies to one of the major reserve currencies and must be ready to adapt to the short-term and long-term oscillations of that currency. So the question of devaluation is a pressing issue. Also, devaluations are frequently one part of a package of policy measures that LDCs must implement in order to qualify for resources from the International Monetary Fund, private banks, and various aid donors. The three case studies of currency devaluation decisions presented here represent historically significant examples of such devaluations under pressure. The similarities and differences of the same economic policy choice in India (1966), Indonesia (1970), and Ghana (1971) have enabled the author to generalize about what drives a country to devalue its currency, the determinants of a devaluation's success, and what the critical stages are in the devaluation process. David Denoon is Associate Professor of Politics and Economics at New York University.
Author: David B. H. Denoon
Publisher: MIT Press (MA)
ISBN: 9780262541565
Category : Business & Economics
Languages : en
Pages : 259
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Book Description
Devaluation Under Pressure illustrates the options open to a developing country's political leaders when faced with a balance of payments crisis. It focuses on the practical problems that policymakers have in planning and implementing a currency devaluation and is based not only on the usual secondary works but also on interviews with some of the policymakers involved and on primary, classified documents.The book presents unique historical information about decision-making in India, Indonesia, and Ghana. The chapter on India, for example, summarizes the Woods-Mehta Agreement which committed the Indian Government to major policy changes that were not implemented. The precise text of this agreement is still being closely held. And the Ghana chapter includes correspondence between the author and former Prime Minister Busia who was able to review the material and provided his perspective on the devaluation and the subsequent coup which overthrew him.Although the current international financial regime is called a flexible exchange rate system, virtually all less-developed countries peg their currencies to one of the major reserve currencies and must be ready to adapt to the short-term and long-term oscillations of that currency. So the question of devaluation is a pressing issue. Also, devaluations are frequently one part of a package of policy measures that LDCs must implement in order to qualify for resources from the International Monetary Fund, private banks, and various aid donors.The three case studies of currency devaluation decisions presented here represent historically significant examples of such devaluations under pressure. The similarities and differences of the same economic policy choice in India (1966), Indonesia (1970), and Ghana (1971) have enabled the author to generalize about what drives a country to devalue its currency, the determinants of a devaluation's success, and what the critical stages are in the devaluation process.David Denoon is Associate Professor of Politics and Economics at New York University.
Author: Barry Eichengreen
Publisher: Oxford University Press
ISBN: 0199879133
Category : Business & Economics
Languages : en
Pages : 484
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Book Description
This book offers a reassessment of the international monetary problems that led to the global economic crisis of the 1930s. It explores the connections between the gold standard--the framework regulating international monetary affairs until 1931--and the Great Depression that broke out in 1929. Eichengreen shows how economic policies, in conjunction with the imbalances created by World War I, gave rise to the global crisis of the 1930s. He demonstrates that the gold standard fundamentally constrained the economic policies that were pursued and that it was largely responsible for creating the unstable economic environment on which those policies acted. The book also provides a valuable perspective on the economic policies of the post-World War II period and their consequences.
Author: Robert H. Bates
Publisher: Univ of California Press
ISBN: 0520314050
Category : Social Science
Languages : en
Pages : 386
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Book Description
This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1998. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived
Author: Paul Armstrong-Taylor
Publisher: Springer
ISBN: 113753401X
Category : Business & Economics
Languages : en
Pages : 271
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Book Description
China’s unprecedented growth has transformed the lives of its people and impacted economies across the globe. The financial system supported this growth by providing cheap loans to boost investment and, in a virtuous cycle, rapid growth insured that these loans could be repaid. However, in recent years, this virtuous cycle has turned vicious. The financial system has continued to lend freely and cheaply as the economy has slowed, and the risk of crisis has mounted. In response, the government has initiated the most ambitious financial reforms in twenty years. Financial markets, businesses and governments are concerned about these risks and are struggling to understand what the reforms will mean for China and the rest of the world. Debt and Distortion: Risks and Reforms in the Chinese Financial System addresses the need for an up-to-date and accessible, yet comprehensive analysis of China’s financial system and related reforms. It will take a systematic look at China’s financial system: how it worked in the past and how it will work in the future; why reforms are needed; what risks they bring; and their impact on China and the rest of the world. By analyzing the topic in terms of a few fundamental distortions, this book makes an otherwise complex topic accessible while simultaneously providing new insights. These distortions provide a simple framework for understanding the nature of the Chinese financial system and its future prospects. Reform in China will transform the world’s second largest economy and impact everything from Peruvian copper mines to the London housing market. Business people, government officials, financiers and informed citizens would all benefit from understanding how changes in China’s financial system will shape the global economy in the coming decades.
Author: Harold A Gould
Publisher: Routledge
ISBN: 1000302229
Category : Political Science
Languages : en
Pages : 181
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Book Description
This book charts the relationship between the evolving governments of independent India and concurrent US presidential administrations. It provides an in-depth analysis of the motivations, external constraints and ideological agendas that characterized Indian-US relations.
Author: Dr. Preeti Trivedi
Publisher: Bhartiya Sahitya Inc.
ISBN: 1613016387
Category : Political Science
Languages : en
Pages : 314
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Book Description
Deendayal Upadhyaya was the rare combination of an activist, a thinker philosopher and an ideologue. The concept of 'Integral Humanism' propounded by Deendayal Upadhyaya embodies the essence of human unity and development. The entire political history of Post Independence period needs to be properly recorded. Whenever such a history is written it would further raise the contribution of Deendayal Upadhyaya. What makes us proud as an Indian is Pt Deendayal's philosophy of Ekatma Manavwad or integral humanism and the same is evident in his political, social and cultural ideology. As a political ideologue he had firm belief in the slogan of Janasangh- Ek Desh Me Do Vidhan - Nahi Chalega Ek Desh Me Do Pradhan - Nahi Chalega Ek Desh Me Do Nishan - Nahi Chalega He advocated unitary form of government which envisages one centre but he always favoured decentralisation to the lowest unit of administration. His idea of infinite spiral unitary State put centre at the top and province, Janapad, Block, Village and Panchayat below it. Similarly distribution of financial powers should be such that the lowest tier of administration, viz. village Panchayat must have some autonomy.
Author: Robert Stein
Publisher: Oxford University Press
ISBN: 0198757107
Category : Business & Economics
Languages : en
Pages : 332
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Book Description
In the late fourteenth and the fifteenth centuries, the Dukes of Valois-Burgundy created a composite monarchy in the Netherlands, an area that had been dominated for centuries by several regional dynasties. In this way they laid the foundation for the modern states of the Netherlands, Belgium, and Luxemburg. The rise of the House of Burgundy can be read as the success story of a dynasty that in little over a century managed to assemble a great number of principalities, thus creating a new state. The Burgundian takeover, however, resulted in a modernization of administration, jurisdiction, and finances. The process of unification and the character of the union are the central topics of Magnanimous Dukes and Rising States. Robert Stein mirrors continuity and modernization in Burgundian times with the bankruptcy of the former dynasties and the decline of feudal government. The powerful towns played an important background role; it was only with their support that a unification of the Netherlands was possible, but this support was not unselfish. This study is about the development of power relations and institutions in the field of tension between ruler and subject, between centralization and particularism.
Author: Douglas Wass
Publisher: Oxford University Press
ISBN: 0199534748
Category : Business & Economics
Languages : en
Pages : 401
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Book Description
Written by the former Permanent Secretary to HM Treasury, Sir Douglas Wass, Decline to Fall traces the unusual events of the 1976 IMF crisis which saw the UK government accept a massive loan from the IMF. Using a wealth of documentation, Sir Douglas questions the inevitability of the crisis and the measures taken to resolve it.
Author: Peter Lewis
Publisher: University of Michigan Press
ISBN: 0472024744
Category : History
Languages : en
Pages : 358
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Book Description
"Growing Apart is an important and distinguished contribution to the literature on the political economy of development. Indonesia and Nigeria have long presented one of the most natural opportunities for comparative study. Peter Lewis, one of America's best scholars of Nigeria, has produced the definitive treatment of their divergent development paths. In the process, he tells us much theoretically about when, why, and how political institutions shape economic growth." —Larry Diamond, Senior Fellow, Hoover Institution "Growing Apart is a careful and sophisticated analysis of the political factors that have shaped the economic fortunes of Indonesia and Nigeria. Both scholars and policymakers will benefit from this book's valuable insights." —Michael L. Ross, Associate Professor of Political Science, Chair of International Development Studies, UCLA "Lewis presents an extraordinarily well-documented comparative case study of two countries with a great deal in common, and yet with remarkably different postcolonial histories. His approach is a welcome departure from currently fashionable attempts to explain development using large, multi-country databases packed with often dubious measures of various aspects of 'governance.'" —Ross H. McLeod, Editor, Bulletin of Indonesian Economic Studies "This is a highly readable and important book. Peter Lewis provides us with both a compelling institutionalist analysis of economic development performance and a very insightful comparative account of the political economies of two highly complex developing countries, Nigeria and Indonesia. His well-informed account generates interesting findings by focusing on the ability of leaders in both countries to make credible commitments to the private sector and assemble pro-growth coalitions. This kind of cross-regional political economy is often advocated in the profession but actually quite rare because it is so hard to do well. Lewis's book will set the standard for a long time." —Nicolas van de Walle, John S. Knight Professor of International Studies, Cornell University Peter M. Lewis is Associate Professor and Director of the African Studies Program, Johns Hopkins University, School of Advanced International Studies.
