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Author: William H. Branson
Publisher:
ISBN:
Category : Black market
Languages : en
Pages : 56
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Book Description
The ineffectiveness of real devaluation as stabilization policy does not imply that the nominal exchange rate should be held constant in the face of a domestic inflation. In this circumstance, import duties and export subsidies would have to be escalated to counter the potential erosion of the trade balance. This escalation of trade barriers generates a rising black market premium and offers increasing incentives to smuggling, already a pervasive problem in the African countries. As a consequence, the central bank would find it more and more difficult to hold the nominal exchange rate constant. This leads us to consider a passive exchange rate policy of stabilizing the exchange rate by moving the nominal rate in line with domestic inflation. If such passive policy is not accompanied by the elimination of trade barriers, however, the black market premium will not disappear. Unless exchange rate policy and trade policy are consistent with each other, the smuggler's blues will reach the central bank. Indeed, this is not just a theoretical possibility, it is the major lesson from the recent experience of Sudan.
Author: William H. Branson
Publisher:
ISBN:
Category : Black market
Languages : en
Pages : 56
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Book Description
The ineffectiveness of real devaluation as stabilization policy does not imply that the nominal exchange rate should be held constant in the face of a domestic inflation. In this circumstance, import duties and export subsidies would have to be escalated to counter the potential erosion of the trade balance. This escalation of trade barriers generates a rising black market premium and offers increasing incentives to smuggling, already a pervasive problem in the African countries. As a consequence, the central bank would find it more and more difficult to hold the nominal exchange rate constant. This leads us to consider a passive exchange rate policy of stabilizing the exchange rate by moving the nominal rate in line with domestic inflation. If such passive policy is not accompanied by the elimination of trade barriers, however, the black market premium will not disappear. Unless exchange rate policy and trade policy are consistent with each other, the smuggler's blues will reach the central bank. Indeed, this is not just a theoretical possibility, it is the major lesson from the recent experience of Sudan.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Richard Stratton
Publisher: Skyhorse
ISBN: 1628726709
Category : True Crime
Languages : en
Pages : 323
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Book Description
Goodfellas meets Savages meets Catch Me If You Can in this true tale of high-stakes smuggling from pot’s outlaw years. Richard Stratton was the unlikeliest of kingpins. A clean-cut Wellesley boy who entered outlaw culture on a trip to Mexico, he saw his search for a joint morph into a thrill-filled dope run smuggling two kilos across the border in his car door. He became a member of the Hippie Mafia, traveling the world to keep America high, living the underground life while embracing the hippie credo, rejecting hard drugs in favor of marijuana and hashish. With cameos by Whitey Bulger and Norman Mailer, Smuggler’s Blues tells Stratton’s adventure while centering on his last years as he travels from New York to Lebanon’s Bekaa Valley to source and smuggle high-grade hash in the midst of civil war, from the Caribbean to the backwoods of Maine, and from the Chelsea Hotel to the Plaza as his fortunes rise and fall. All the while he is being pursued by his nemesis, a philosophical DEA agent who respects him for his good business practices. A true-crime story that reads like fiction, Smuggler’s Blues is a psychedelic road trip through international drug smuggling, the hippie underground, and the war on weed. As Big Marijuana emerges, it brings to vivid life an important chapter in pot’s cultural history.
Author: OECD Development Centre
Publisher: OECD Publishing
ISBN: 9264195521
Category :
Languages : en
Pages : 96
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Book Description
Don ́t Fix, Don ́t Float is a book about credibility, or lack thereof. It deals with questions pertaining to international financial architecture from the perspective of developing countries, emerging markets and transition economies.
Author: National Bureau of Economic Research
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 386
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Book Description
Author:
Publisher:
ISBN:
Category : Economic research
Languages : en
Pages : 528
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Book Description
Author: Dali L. Yang
Publisher: Stanford University Press
ISBN: 9780804754934
Category : Political Science
Languages : en
Pages : 436
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Book Description
This book examines a wide range of governance reforms in the People's Republic of China, including administrative rationalization, divestiture of businesses operated by the military, and the building of anticorruption mechanisms, to analyze how China's leaders have reformed existing institutions and constructed new ones to cope with unruly markets, curb corrupt practices, and bring about a regulated economic order.
Author: L. Alan Winters
Publisher:
ISBN:
Category : Commercial policy
Languages : en
Pages : 64
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Book Description
Author: Michael Beenstock
Publisher:
ISBN:
Category : Econometric models
Languages : en
Pages : 48
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Author:
Publisher:
ISBN:
Category : Economic policy
Languages : en
Pages : 424
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Book Description
