Devaluation Under Pressure
Devaluation Under Pressure

Author: David Denoon

Publisher: MIT Press (MA)

Published: 1986-01

Total Pages: 260

ISBN-13: 9780262040839

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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.

Devaluation Under Pressure
Devaluation Under Pressure

Author: David B. H. Denoon

Publisher: MIT Press (MA)

Published: 1986-04-01

Total Pages: 259

ISBN-13: 9780262541565

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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.

State and Local Finances Under Pressure
State and Local Finances Under Pressure

Author: David L. Sjoquist

Publisher: Edward Elgar Publishing

Published: 2003-01-01

Total Pages: 358

ISBN-13: 9781781008522

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State and Local Finances under Pressure explores the future of state and local government fiscal systems given the numerous pressures they face from economic, legal, technological, demographic and political forces. It explores how these multiple forces play out in terms of the changes state and local governments should and are likely to make. The contributors argue that state and local governments must make substantial changes and that failure to act is likely to result in adverse effects and increasing pressures for modifications that are more difficult to implement and more politically unpalatable. Without reform, state and local fiscal systems will grow increasingly out of sync with economic reality. The authors suggest that government responses are likely to be evolutionary, but that in 25 years the recorded changes will be substantial. The first chapter provides a historic perspective of state and local fiscal trends. Each of the subsequent chapters describes the nature of one of the pressures state and local governments face including: political and legal forces, globalization of business, demographic and technological changes, deregulation of utilities, and urban sprawl. Policymakers, economists, political scientists, fiscal policy analysts and public administrators will find this comprehensive book of interest.

Dreams and Dilemmas
Dreams and Dilemmas

Author: Kōichi Hamada

Publisher: Institute of Southeast Asian Studies

Published: 2000

Total Pages: 526

ISBN-13: 9789812300690

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This volume consists of two parts. Part one discusses economic friction in the Asia-Pacific region from three aspects: macroeconomic and microeconomic friction, and that between the state and the market mechanism. In part two, four types of legal frameworks for dispute resolution are examined.

Economic Ideas and Government Policy
Economic Ideas and Government Policy

Author: Sir Alec Cairncross

Publisher: Routledge

Published: 2002-03-11

Total Pages: 294

ISBN-13: 1134787758

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This volume collects together Sir Alec Cairncross' most important contributions to the economic history of the post-1939 period. They address such major issues as the role of economists in the 2nd World War, the significance of the Marshall plan and Britain's relative economic decline. Together they demonstrate a keen insight into the changing role of the economist in government and the gradual transformation of the economic landscape.

The Financial System and the Economy
The Financial System and the Economy

Author: Maureen Burton

Publisher: Routledge

Published: 2014-12-18

Total Pages: 710

ISBN-13: 1317456866

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Attempts to assess whether the United States is in economic decline. Appropriate to general readers as well as economics students and scholars, this book examines the fears of Americans about their economic future.

Architect of A Philosophy
Architect of A Philosophy

Author: Dr. Preeti Trivedi

Publisher: Bhartiya Sahitya Inc.

Published: 2017-12-01

Total Pages: 314

ISBN-13: 1613016387

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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.