{"product_id":"demanding-devaluation-exchange-rate-politics-in-the-developing-world-hardback-9780801453847","title":"Demanding Devaluation; Exchange Rate Politics in the Developing World (Hardback) 9780801453847","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eDemanding Devaluation\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eExchange Rate Politics in the Developing World\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eDavid A. Steinberg (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780801453847\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 29 May 2015\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e288 pages, 1 line figure, 21 tables, 13 charts - 21 Tables, unspecified\u003cbr\u003e23.5 x 15.5 x 2.4 cm, 0.907 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cp\u003e\u003cb\u003eExchange rate policy has profound consequences for economic development, financial crises, and international political conflict.\u003c\/b\u003e 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 \u003ci\u003eDemanding Devaluation\u003c\/i\u003e, David Steinberg argues that the demands of powerful interest groups often dictate government decisions about the level of the exchange rate. \u003c\/p\u003e \u003cp\u003eCombining 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.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eIntroduction1. A Conditional Preference Theory of Undervalued Exchange Rates2. Cross-Country Patterns in Exchange Rate Policy and Preferences3. Why China Undervalues Its Exchange Rate: The Domestic Politics of Currency Manipulation4. The Political Appeal of Overvaluation: Industrial Interests and the Repeated Overvaluation of the Argentine Peso5. Interests, Institutions, and Exchange Rates in South Korea, Mexico, and IranConclusion\u003ci\u003eAppendix: Author Interviews\u003cbr\u003e References\u003cbr\u003e Index\u003c\/i\u003e\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cornell University Press","offers":[{"title":"Brand New","offer_id":52541844160792,"sku":"9780801453847","price":38.39,"currency_code":"GBP","in_stock":true}],"url":"https:\/\/freshlyprintedbooks.co.uk\/products\/demanding-devaluation-exchange-rate-politics-in-the-developing-world-hardback-9780801453847","provider":"Freshly Printed Books","version":"1.0","type":"link"}