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Books > Business & Economics > Economics > Macroeconomics

Currency Crises, Monetary Union and the Conduct of Monetary Policy - A Debate Among Leading Economists (Hardcover): Paul J. Zak Currency Crises, Monetary Union and the Conduct of Monetary Policy - A Debate Among Leading Economists (Hardcover)
Paul J. Zak
R1,963 Discovery Miles 19 630 Shipped within 7 - 12 working days

Currency Crises, Monetary Union and the Conduct of Monetary Policy is a book of debate and analysis by some of the world's most eminent economists, on problems relating to the international monetary system, economic growth and monetary policy. This highly readable book features contributions from illustrious scholars including four Nobel laureates in economics - Milton Friedman, Franco Modigliani, Paul A. Samuelson and James Tobin. They hold a lively discussion on the impact of monetary policy on economic growth, unemployment and inflation, in both developing and developed countries. The authors also examine the effects of European Monetary Union on the international monetary system and whether this union will survive to include more than just a few founding countries. In addition, the assembled experts investigate the conditions that lead to currency crises in developing countries and propose policies that can be used to combat such crises. This impressive volume is a lightly-edited chronicle of a vigorous debate among leading economists, and contains an introduction that puts the discussions in context. This accessible and thought-provoking volume will be of interest to specialists in international monetary economics, and to undergraduate and graduate students, and members of the general public who seek a clearer understanding of current economic issues and solutions to economic problems.

The Development of Corporate Governance in China (Hardcover): On Kit Tam The Development of Corporate Governance in China (Hardcover)
On Kit Tam
R1,966 Discovery Miles 19 660 Shipped within 7 - 12 working days

This important and timely book examines how corporate governance has and should be developed in China to meet the challenges of enterprise and financial reform. It highlights key economic, social and political issues that China has to confront in order to transform the state owned industrial enterprises into a competitive and modern corporate sector. On Kit Tam critically appraises the main analytical frameworks and models of corporate governance in industrialized countries. He then assesses China's development in terms of current Western debates in relation to the role, function and evolution of corporate governance arrangements. He examines how the Chinese government has adopted a top-down approach combined with a market based Anglo-American model. The author also presents surveys of company directors, managers and supervisors reporting the current environment and analyses the choices available in the light of China's particular problems. He concludes with suggestions for a model of corporate governance in China. This book will be welcomed by economists and those interested in management studies, Chinese reform, international business, Asian studies, industrial organization and business strategy.

Foreign Direct Investment and Economic Growth in China (Hardcover, illustrated edition): Yanrui Wu Foreign Direct Investment and Economic Growth in China (Hardcover, illustrated edition)
Yanrui Wu
R2,223 Discovery Miles 22 230 Shipped within 7 - 12 working days

Foreign capital has played a fundamental role in China's development and economic reconstruction during the past two decades. China is now the world's second largest host for foreign direct investment, outside the United States. This important new book, by a distinguished group of contributors, offers insights into the impact of foreign investment on China's growth and regional economic development. The book features: * an examination of China's investment policy * an analysis of the most recent industrial surveys * case studies from selected regions * applications of modern econometric techniques to data on foreign direct investment in China Foreign Direct Investment and Economic Growth in China will be of interest to those working in the areas of international business, finance and international economics as well as Asian development and Chinese economic studies.

The Governance of Privatization Funds - Experiences of the Czech Republic, Poland and Slovenia (Hardcover): Marko Simoneti,... The Governance of Privatization Funds - Experiences of the Czech Republic, Poland and Slovenia (Hardcover)
Marko Simoneti, Saul Estrin, Andreja Boehm
R2,045 Discovery Miles 20 450 Shipped within 7 - 12 working days

Privatization investment funds are the key feature of mass privatization programmes in transitional economies. This book offers a thorough survey of mass privatization programmes in the Czech Republic, Poland and Slovenia, supported with extensive empirical analysis. The study of `top-down' privatization funds in Poland and `bottom-up' funds in the Czech Republic and Slovenia offers different solutions to the problem of how to improve the governance of privatization funds. The authors argue that the institutional structure of closed-end investment companies and open-end mutual funds has not provided the right incentives to maximize the value for the shareholders. In addition too many regulations are in place in underdeveloped markets to protect new shareholders unaccustomed to exercising their ownership rights. Instead, the authors argue that they need to promote adjustment in fund portfolios and ownership structures in order to spur the development of capital markets and effective mechanisms of corporate governance.

The Economics of Commodity Markets (Hardcover): David Greenaway, C.W. Morgan The Economics of Commodity Markets (Hardcover)
David Greenaway, C.W. Morgan
R6,646 Discovery Miles 66 460 Shipped within 7 - 12 working days

This volume presents a collection of the most important published articles in the field, including influential papers by key economists on terms of primary products, commodity price instability, stabilization programmes, trade shocks, futures markets and sectoral studies. The Economics of Commodity Markets will be an essential reference guide for students and researchers specializing in international trade and development.

Learning and Innovation in Economic Development (Hardcover): Linsu Kim Learning and Innovation in Economic Development (Hardcover)
Linsu Kim
R2,416 Discovery Miles 24 160 Shipped within 7 - 12 working days

In this carefully chosen selection of essays, Linsu Kim - one of Korea's foremost social scientists, who is advising the Korean government on reform strategy in light of the recent crisis - identifies the evolutionary processes and patterns of learning, capability building, and innovation in catch-up countries. He suggests that catch-up economies display different patterns of learning and innovation to more advanced countries. Using the example of Korea, he examines industries such as consumer electronics, machinery, pharmaceuticals, automobiles and semiconductors, all of which have been important contributors to Korea's economic growth and development. Linsu Kim analyses both the formal and informal mechanisms Korea has used in acquiring technologies from, mainly, advanced countries. He considers how these technologies are assimilated rapidly into the local economy, and in some cases improved to increase Korea's international competitiveness. This examination and extension of the theory of learning and innovation has many useful implications for both catch-up economies and also advanced countries. It offers analytical frameworks which policymakers and managers can use in formulating and evaluating public policies and corporate strategies. Learning and Innovation in Economic Development will be of interest to a wide audience including those working in the fields of technology management, innovation studies and development economics.

China'S Consumer Revolution - The Emerging Patterns of Wealth and Expenditure (Hardcover): Yanrui Wu China'S Consumer Revolution - The Emerging Patterns of Wealth and Expenditure (Hardcover)
Yanrui Wu
R1,967 Discovery Miles 19 670 Shipped within 7 - 12 working days

China's rapid economic growth has attracted much international attention in recent years, partly due to the potential purchasing power of the largest population in the world. This timely book examines general patterns of Chinese household demand for a variety of consumer goods such as food, durables, housing and health care and investigates the impact of economic and social factors on household consumption. China's Consumer Revolution focuses on comparisons between different consumer groups, such as rural versus urban and rich versus poor. Special attention is given to the impact of the newly affluent consumers, the so-called `new rich'. This book also compares China with other countries in terms of household demand for consumer goods and sheds light on the prospects for international trade in this area. Drawing upon newly released household surveys, this book is the first of its kind and it will be of interest to both academic researchers and business advisors.

Albania in Crisis - The Predictable Fall of the Shining Star (Hardcover): Daniel Vaughan-Whitehead Albania in Crisis - The Predictable Fall of the Shining Star (Hardcover)
Daniel Vaughan-Whitehead
R2,724 Discovery Miles 27 240 Shipped within 7 - 12 working days

At the beginning of the 1990's the first encouraging results on GDP growth combined with the fulfilment of international requirements led many to believe that Albania was a `shining star' in Central and Eastern Europe. But in 1997 this progress was reversed by unprecedented institutional, political and social turmoil leading to a spiral of violence and chaos. This book presents, for the first time, a comprehensive analysis of the different factors behind the 1997 political, economic and social upheaval in Albania. It shows that the crisis was both predictable and complex, and not simply a matter of a disgruntled population attempting to regain their money. Using extensive and detailed evidence Daniel Vaughan-Whitehead identifies the major reasons for the growing discontent and final explosion: - the increase in unemployment, collapse of industrial production, inefficiency of the banking system, limitations and drawbacks of foreign investment, failure of mass privatization, falling living standards, and rising poverty. He examines the consequences of the crisis at the enterprise level, by region, sector, industry and property form using a unique survey of over 1,000 enterprises. In conclusion he offers a series of policy recommendations with a view to regenerating production whilst avoiding a new social explosion in a destroyed economy, weakened by political instability and the conflict in Kosovo. This unique book will be essential reading for all academics working in the area of transition as well as policymakers from international organizations involved in transition economies.

Economic Performance and Financial Sector Reform in Central and Eastern Europe - Capital Flows, Bank and Enterprise... Economic Performance and Financial Sector Reform in Central and Eastern Europe - Capital Flows, Bank and Enterprise Restructuring (Hardcover)
Andrew W. Mullineux, Christopher J. Green
R2,539 Discovery Miles 25 390 Shipped within 7 - 12 working days

This book critically examines the progress made on macroeconomic stabilization and financial sector reform in the transition economies of Central and Eastern Europe. It relates microeconomic experiences to the broader macroeconomic context of reform, and emphasises that macro reform is underpinned by micro and institutional reform, especially in the financial sphere. Key features include: * bank and enterprise restructuring and the progress towards the resolution of banking and bad debt problems * implications of bank and enterprise restructuring for corporate governance and company performance * an evaluation of bank-enterprise relationships * exchange rates and capital flows, with an analysis of the capital inflow problem and the performance of fixed exchange rate regimes in the post-stabilization phase of the transition * detailed surveys of individual firm and bank behaviour and performance during the reform process. The book will be welcomed by scholars and practitioners interested in monetary and financial economics, the economics of transition and comparative economic systems.

The Mixed Blessing of Financial Inflows - Transition Countries in Comparative Perspective (Hardcover): Janos Gacs, Robert... The Mixed Blessing of Financial Inflows - Transition Countries in Comparative Perspective (Hardcover)
Janos Gacs, Robert Holzmann, Michael L. Wyzan
R2,207 Discovery Miles 22 070 Shipped within 7 - 12 working days

The successful macroeconomic stabilization in Central and Eastern European countries has encouraged inflows of foreign capital badly needed to promote economic development. Strikingly, these countries have found capital inflows in their various forms to be a mixed blessing, threatening the macroeconomic balance that they have recently achieved. These countries have learned that it is not easy to continue to attract foreign capital and simultaneously to reduce its adverse effects on inflation, the exchange rate and the current account, and to contain disturbances resulting from reversals of the flows. This book investigates recent experiences in Central and Eastern Europe and contrasts it with that of Latin America and East Asia, and suggests appropriate policies and lessons to be learned. The authors conclude that many features of, and policy dilemmas faced by, formerly centrally planned economies in Europe are similar to those in other emerging economies. However, certain unique characteristics such as data limitations and the fragility of the banking and financial systems, compound the problems faced by policy makers in Central and Eastern Europe. This book will prove invaluable to policymakers and scholars interested in and responsible for international finance in transition economies.

Monetary Policy and the Great Inflation in the United States - The Federal Reserve and the Failure of Macroeconomic Policy,... Monetary Policy and the Great Inflation in the United States - The Federal Reserve and the Failure of Macroeconomic Policy, 1965-79 (Hardcover)
Thomas Mayer
R1,972 Discovery Miles 19 720 Shipped within 7 - 12 working days

This unique book deals with the most serious macroeconomic failure experienced in the US in the post-war period and the great inflation of the late 1960s and 1970s. It is the first detailed analysis, using Federal Reserve documents, of the thinking behind the inflationary monetary policy during this period. The book examines documentary evidence, including minutes, memos and reports and interviews with people who were closely involved in making policy decisions, to explain the monetary policy that led to this inflation. Thomas Mayer considers forecasting errors and wage and price controls in his attempt to explain why the inflation occurred and places some of the blame on ineffective operating procedures, institutional inefficiencies, and political pressures on the Federal Reserve. The author concludes that much of the responsibility for the mistaken policies lies with academic economists who underestimated the dangers of inflation and encouraged the Federal Reserve to focus on an unattainable employment goal. Monetary Policy and the Great Inflation in the United States will be welcomed by economists, political scientists and economic historians interested in monetary policy.

On Interest Rates and Asset Prices in Europe - The Selected Essays of Martin M.G. Fase (Hardcover): Martin M.G. Fase On Interest Rates and Asset Prices in Europe - The Selected Essays of Martin M.G. Fase (Hardcover)
Martin M.G. Fase
R2,296 Discovery Miles 22 960 Shipped within 7 - 12 working days

This book presents a quarter of a century of empirical research on interest rates and a variety of asset prices. It will serve to deepen our understanding of asset price inflation. The book includes extensive analysis of the measurement of interest rates, with case studies from The Netherlands, Belgium and EMU, and emphasizes statistical measurement and the attempt to understand interest rate behaviour through statistical estimation. The book also includes an examination of historical interest rate development in the long run, both theoretically and empirically. In conclusion, Professor Fase also analyses the behaviour of bonds, stocks and investment in art and examines the factors indispensable for a monetary strategy designed to target inflation.

Microstructure: the Organization of Trading and Short Term Price Behavior (Hardcover, illustrated edition): Hans R. Stoll Microstructure: the Organization of Trading and Short Term Price Behavior (Hardcover, illustrated edition)
Hans R. Stoll
R9,408 Discovery Miles 94 080 Shipped within 7 - 12 working days

This book is an authoritative collection of the most important published articles on key issues in securities markets including market design, the sources of the bid ask spread, and the short term movement of prices. The articles trace the development of this relatively new field of market microstructure while at the same time reflecting the latest ideas. At a time when securities markets are undergoing dramatic change, this two volume set provides important guidance to students, users and regulators of securities markets.

Central Bank Independence, Targets and Credibility - Political and Economic Aspects of Delegation Arrangements for Monetary... Central Bank Independence, Targets and Credibility - Political and Economic Aspects of Delegation Arrangements for Monetary Policy (Hardcover)
Francesco Lippi
R1,968 Discovery Miles 19 680 Shipped within 7 - 12 working days

This book integrates new political and economic elements into the analysis of monetary policy credibility and central bank independence. The author considers imperfect monetary control, rational voters, distributional issues and uncertainty about future policy objectives in his welfare analysis of central banking. The role played by the different institutional elements that contribute to the making of an independent central bank is also assessed. A distinction is made between central bank independence and targets offering new insights into how a more inflation averse monetary policy may actually be achieved. Finally, explanations for the variation of central bank independence and conservatism across different countries are provided. This book will appeal to researchers, academics and policymakers in the fields of monetary policy, financial economics, money and banking and political economy.

New Growth Theory - An Applied Perspective (Hardcover): Jati K. Sengupta New Growth Theory - An Applied Perspective (Hardcover)
Jati K. Sengupta
R2,239 Discovery Miles 22 390 Shipped within 7 - 12 working days

New growth theory attempts to explain the process of long run economic growth through endogenous forces such as human capital, knowledge spillover and information technology. This book offers an up-to-date critical review of the most important economic issues in new growth theory and discusses its empirical evidence, optimality and usefulness in national policy making. Professor Sengupta critically analyzes the dynamic and disequilibrium models as applied to recent international growth and discusses their policy implications for structural adjustment, technological innovation and international spillover of knowledge. He empirically illustrates the various phases of growth in technology-intensive sectors such as flexible manufacturing and the semi-conductor and telecommunications industries, presenting new insights into the effects of the learning process on growth and the different phases of the innovation process. He also provides a detailed new approach to learning by doing. He then critically reviews the foreign exchange market in relation to international development. Lastly, he applies time-series econometric methods to R&D investment in human capital in a global framework. New Growth Theory will be invaluable to graduate students and scholars of macroeconomics and researchers in growth theories and economic development.

Foreign Exchange Intervention: Objectives and Effectiveness (Hardcover): Sylvester Eijffinger Foreign Exchange Intervention: Objectives and Effectiveness (Hardcover)
Sylvester Eijffinger
R5,442 Discovery Miles 54 420 Shipped within 7 - 12 working days

This important collection of previously published articles and papers, together with an original introduction by the editor, provides both a comprehensive overview of the subject and a more detailed examination of the issues. Topics covered include: the objectives and effectiveness of foreign exchange intervention; the portfolio-balance and expectations channel; new approaches to foreign exchange intervention; technical analysis, private information and game-theoretic models.

Corporate Governance and Financial Performance - A Study of German and Uk Initial Public Offerings (Hardcover, illustrated... Corporate Governance and Financial Performance - A Study of German and Uk Initial Public Offerings (Hardcover, illustrated edition)
Marc Goergen
R1,972 Discovery Miles 19 720 Shipped within 7 - 12 working days

This important book presents a new original study of the German and UK financial markets. It addresses the relationship between corporate governance, ownership and financial performance in German and UK firms floated during the 1980s. Marc Goergen uses detailed company micro-data to examine the ownership and performance of each firm from the time of its flotation to six years later. He finds that the evolution of ownership depends on certain corporate characteristics and that differences in financial performance cannot be explained simply by differences in the concentration of ownership. The book sheds new light on the important issue of whether corporate ownership influences or is influenced by financial performance. The main findings of the book have important implications for public policy and the current public debate on corporate governance and the globalisation of financial markets. They are important for established financial markets and the transitional economies of Eastern and Central Europe as well as for international scholars interested in issues of corporate governance and the performance of firms.

Investment, National Income and Economic Policy - The Selected Essays of Robert Eisner Volume Two (Hardcover, 20th ed.): Robert... Investment, National Income and Economic Policy - The Selected Essays of Robert Eisner Volume Two (Hardcover, 20th ed.)
Robert Eisner
R3,414 Discovery Miles 34 140 Shipped within 7 - 12 working days

This carefully edited selection of Robert Eisner's essays ties together his authoritative contributions to economic analysis and macroeconomic policy issues, particularly business, investment and tax policy. He offers a trenchant analysis of the fundamental issues of employment, investment and economic welfare in an advanced market economy, offering a challenge to the conventional wisdom on macroeconomic theory and policy. Professor Eisner first examines the determinants of business investment and criticizes neoclassical theories on investment. He goes on to assess the role of tax incentives in investment and finds that tax policy is a flawed way of attempting to encourage investment. He also analyses national income accounting and offers some alternative measurements for calculating national product. Professor Eisner then examines the implications of war for the economy and explores the macroeconomic consequences of disarmament including its possible effects on unemployment. Lastly, he addresses the conflict between economic policy and principle; particularly concerning the environment, insurance and the theory of choice, academic freedom and the elderly.

Financial Reform in Japan - Causes and Consequences (Hardcover): Maximilian J.B. Hall Financial Reform in Japan - Causes and Consequences (Hardcover)
Maximilian J.B. Hall
R2,051 Discovery Miles 20 510 Shipped within 7 - 12 working days

This timely book provides a comprehensive analysis of the post-war evolution of financial markets and financial regulation in Japan, with special emphasis being placed on the period since 1975. Max Hall, a leading specialist in financial regulation, provides a full and detailed coverage of the causes and nature of the recent liberalization of financial markets adopted in Japan as well as its consequences for public policy. He also examines the recent reforms of Japan's central bank, the Bank of Japan, and offers an in-depth discussion of the current weaknesses of the Japanese banking sector. By providing a critical overview of the local financial system and detailed discussion of the evolution of financial markets in Japan, the book sheds new light on the institutional problems at the heart of the current crisis. The politics, as well as the economics, of the financial liberation programme are scrutinised to provide a comprehensive analysis of financial reform.

The Keynesian Revolution, Then and Now - The Selected Essays of Robert Eisner, Volume One (Hardcover, 20th ed.): Robert Eisner The Keynesian Revolution, Then and Now - The Selected Essays of Robert Eisner, Volume One (Hardcover, 20th ed.)
Robert Eisner
R3,048 Discovery Miles 30 480 Shipped within 7 - 12 working days

Robert Eisner has made a seminal contribution to the development of macroeconomic analysis in the latter half of the twentieth century. This carefully edited selection of his essays traces the development of economic thought in the wake of the Keynesian revolution and offers a critique of the neoclassical contribution to economic analysis and major macroeconomic policy issues. Professor Eisner is fundamentally concerned with the determinants of employment and growth in a market economy. In this book, he provides a rigorous analysis of the permanent income hypothesis, the multiplier, interest rates, the liquidity trap, consumption and saving, depreciation, unemployment and growth models. He goes on to examine fiscal and monetary policy and the measurement and effects of budget deficits over the post-war period, challenging the view that budget deficits should necessarily be avoided. Professor Eisner also offers new measures of saving, investment and national income and product, which provide new insights into the economic factors affecting current welfare and future growth. Finally, he discusses the importance of full employment and criticises the idea that there is a natural rate of unemployment.

Persistent Disparity - Race and Economic Inequality in the United States Since 1945 (Hardcover): William A. Darity, Samuel L.... Persistent Disparity - Race and Economic Inequality in the United States Since 1945 (Hardcover)
William A. Darity, Samuel L. Myers
R2,050 Discovery Miles 20 500 Shipped within 7 - 12 working days

Persistent Disparity provides a comprehensive examination of the magnitude and scope of racial economic disparity in the United States. The authors directly assess the extent of black economic progress in the US since World War II and address the controversy of whether the racial income gap is closing or widening as America approaches the 21st century. Darity and Myers explicitly make the connection between what the theory of racial inequality espouses and corresponding policy recommendations for remedying such disparity such as affirmative action and reparations. The authors challenge the cultural-genetic explanation and advance a new theoretical explanation that incorporates a more expansive characterization of the nature and role of discrimination. They also conclude that conventional anti-discrimination efforts are unlikely to be sufficient to close the gap. This book will be essential reading for anyone interested in US social and economic history, political economy, African-American studies, and public policy.

Money and Banking - Theory and Debate (1900-1940) (Hardcover): Riccardo Realfonzo Money and Banking - Theory and Debate (1900-1940) (Hardcover)
Riccardo Realfonzo
R1,974 Discovery Miles 19 740 Shipped within 7 - 12 working days

Money and Banking provides an original and comprehensive interpretation of the debate on banking and the nature of money in Keynes's time from a post Keynesian point of view. The book traces the pre-history of monetary circuit theory and its challenge to mainstream analysis in the first four decades of the century, contrasting the neoclassical approach with the monetary theory of production. The author comprehensively examines and reconstructs the contributions of both well-known and more neglected authors to the debate on the nature of money and the function of the banks, from the viewpoint of a circuit theorist. He concludes with a comprehensive account of heterodox analyses of the creation of money by banks, beginning with Wicksell and ending with British and American proponents of `free banking'.

Inflation, Unemployment and Money (Hardcover, 1858th ed.): Bruno Jossa, Marco Musella Inflation, Unemployment and Money (Hardcover, 1858th ed.)
Bruno Jossa, Marco Musella
R2,040 Discovery Miles 20 400 Shipped within 7 - 12 working days

This comprehensive book presents an original reconstruction of the different interpretations of the Phillips curve. The authors demonstrate through an in-depth analysis how it is possible to find non-neoclassical foundations in the trade-off between inflation and unemployment. The debate is presented from a historical perspective which charts the evolution of the Phillips curve from a non-neoclassical perspective, taking account of post Keynesian literature. In the first part of the book the authors focus on the origins of the Phillips curve and they critically analyse Richard Lipsey's interpretation and approach to the Phillips curve. They then explore the neoclassical and monetarist interpretation, paying special attention to the evolution of monetarism and the Keynesian critique of this approach. The Kaleckian, Keynesian and Marxist interpretations of the Phillips trade-off are then presented. Here the authors show how the relationship between inflation, unemployment and money described in these approaches accurately reflects the fundamental features of today's capitalist economies. In the final section a new Phillips curve is constructed, taking into account the non-accelerating inflation rate of unemployment and the hysteresis of it. Inflation, Unemployment and Money will be of interest to macroeconomists, post Keynesians and monetary and financial economists.

Integrating Financial Markets in the European Union (Hardcover, illustrated edition): Jan J.G. Lemmen Integrating Financial Markets in the European Union (Hardcover, illustrated edition)
Jan J.G. Lemmen
R2,045 Discovery Miles 20 450 Shipped within 7 - 12 working days

This timely book provides an innovative examination of financial integration in the European Union - an issue that has become of paramount importance in view of the commencement of European Economic and Monetary Union. The author begins by assessing three different methods of financial integration in the European Union: interest parity conditions, savings-investment correlations and consumption correlations. He goes on to examine the fundamental determinants of financial integration and analyses the factors likely to influence the movement of capital within the European Union. The blend of empirical and theoretical research provides the reader with a comprehensive account of the progress made in integrating financial markets in the European Union. Integrating Financial Markets in the European Union will be essential reading for students and scholars of monetary economics, international finance and European integration. It will also prove useful to practitioners and policymakers working in central banking and government.

Exchange Rate Regimes in the Twentieth Century (Hardcover): Derek H. Aldcroft, Michael J. Oliver Exchange Rate Regimes in the Twentieth Century (Hardcover)
Derek H. Aldcroft, Michael J. Oliver
R2,182 Discovery Miles 21 820 Shipped within 7 - 12 working days

This book provides the first comprehensive and accessible account of the evolution of exchange rate regimes in the twentieth century. It presents a chronological, non-technical history and in doing so manages to link the past with the present to shed new light on the merits of different exchange rate systems. Since the golden age before the First World War, the international monetary system has experienced several changes in exchange rate regimes, alternating between fixed and floating rate systems interspersed with managed or dirty floats. The authors examine and assess the evolution of exchange rate regimes since the First World War to the present day. They discuss the forces that have brought about change in order to determine how different regimes affected the economic environment. They consider the merits or otherwise of the respective regimes and assess the evidence and arguments for and against fixed and floating exchange rate systems. Exchange Rate Regimes in the Twentieth Century provides a coherent and manageable analysis of a complex subject. It will prove invaluable to both undergraduates and postgraduates studying economic history, international economics and international studies.

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