DEVALUATION

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概要

• 論文の詳細を見る

• The devaluation of the rupee in 1991 has been hailed as a success in India since soon thereafter, the trade balance improved and capital flight was arrested. Since non-traded goods are likely to be labor-intensive in India compared to importables, the paper demonstrates that the devaluation could have actually worsened the trade balance by reducing the domestic relative price of traded vs non-traded goods. The partial devaluation embedded in a subsequent policy called LERMS (Liberalized Exchange Rate Management System) seems more likely to be the instrument that was successful in improving the trade balance.

• 慶應義塾大学の論文

著者

• Guha-khasnobis Basudeb

  Indira Gandhi Institute Of Development Research

関連論文

• DEVALUATION

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