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 | | Exchange Rate Parity for Trade and Development: Theory, Tests, and Case Studies by Pan A. Yotopoulos ISBN-10: 9780521482165 ISBN-10: 0-521-48216-X ISBN-13: 9780521482165 ISBN-13: 978-0-521-48216-5 Hardcover 1995-10-27 Cambridge University Press Find Lowest Price |
Editorials | ||
Product Description Yotopoulos 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. 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. | ||
Book Description Yotopoulos 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. 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. | ||
Reviews | ||
Narrow and Pedantic The author harnesses empirical data but fails to put forth any meaningful hypothesis concerning the declining value of money in third world countries. I find the scholarship a bit narrow-minded. For example, the idea that the devaluation of the peso is the systematic outcome of the free currency market is poorly hatched and hardly researched. The author fails to address the geo-political landscape as potential causes for this loss of value and refuses to discuss the issue of NAFTA in a coherent way. My thinking is that the author is a pampered, ivory tower intellectual who has lost touch with his ability to reason. | ||