LEADER 03866nam 2200661 450 001 9910797423603321 005 20210507023751.0 010 $a0-8014-5425-5 024 7 $a10.7591/9780801454257 035 $a(CKB)3710000000462628 035 $a(EBL)3425984 035 $a(SSID)ssj0001544179 035 $a(PQKBManifestationID)16134991 035 $a(PQKBTitleCode)TC0001544179 035 $a(PQKBWorkID)12492314 035 $a(PQKB)11068985 035 $a(StDuBDS)EDZ0001516934 035 $a(OCoLC)916715324 035 $a(MdBmJHUP)muse46811 035 $a(DE-B1597)478282 035 $a(OCoLC)979576281 035 $a(DE-B1597)9780801454257 035 $a(Au-PeEL)EBL3425984 035 $a(CaPaEBR)ebr11084143 035 $a(CaONFJC)MIL821880 035 $a(OCoLC)935907219 035 $a(MiAaPQ)EBC3425984 035 $a(EXLCZ)993710000000462628 100 $a20150813h20152015 uy 0 101 0 $aeng 135 $aurnnu---|u||u 181 $ctxt 182 $cc 183 $acr 200 10$aDemanding devaluation $eexchange rate politics in the developing world /$fDavid A. Steinberg 210 1$aIthaca, New York ;$aLondon, [England] :$cCornell University Press,$d2015. 210 4$dİ2015 215 $a1 online resource (288 p.) 225 1 $aCornell Studies in Money 300 $aDescription based upon print version of record. 311 0 $a0-8014-5384-4 320 $aIncludes bibliographical references and index. 327 $tFront matter --$tContents --$tList of Figures --$tList of Tables --$tAcknowledgments --$tList of Abbreviations --$tIntroduction --$t1. A Conditional Preference Theory of Undervalued Exchange Rates --$t2. Cross-Country Patterns in Exchange Rate Policy and Preferences --$t3. Why China Undervalues Its Exchange Rate --$t4. The Political Appeal of Overvaluation --$t5. Interests, Institutions, and Exchange Rates in South Korea, Mexico, and Iran --$tConclusion --$tAppendix: Author Interviews --$tReferences --$tIndex 330 $aExchange rate policy has profound consequences for economic development, financial crises, and international political conflict. Some governments in the developing world maintain excessively weak and "undervalued" exchange rates, a policy that promotes export-led development but often heightens tensions with foreign governments. Many other developing countries "overvalue" their exchange rates, which increases consumers' purchasing power but often reduces economic growth. In Demanding Devaluation, David Steinberg argues that the demands of powerful interest groups often dictate government decisions about the level of the exchange rate. Combining rich qualitative case studies of China, Argentina, South Korea, Mexico, and Iran with cross-national statistical analyses, Steinberg reveals that exchange rate policy is heavily influenced by a country's domestic political arrangements. Interest group demands influence exchange rate policy, and national institutional structures shape whether interest groups lobby for an undervalued or an overvalued rate. A country's domestic political system helps determine whether it undervalues its exchange rate and experiences explosive economic growth or if it overvalues its exchange rate and sees its economy stagnate as a result. 410 0$aCornell studies in money. 606 $aForeign exchange rates$zChina$xPolitical aspects 606 $aForeign exchange rates$zDeveloping countries$xPolitical aspects 615 0$aForeign exchange rates$xPolitical aspects. 615 0$aForeign exchange rates$xPolitical aspects. 676 $a332.4/56 700 $aSteinberg$b David$f1980-$01546811 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910797423603321 996 $aDemanding devaluation$93802651 997 $aUNINA