The effect of an exchange rate devaluation on a small open economy with an external debt overhang
One reason a developing country with a relatively open economy would be hesistant to devalue its currency is the effect of the change in the official exchange rate on the government budget items related to the external debt overhang. It is shown that in an economy characterized by mark-up pricing b...
| Published in: | Philippine Review of Economics and Business (formerly The Philippine Review of Business and Economics) Vol. XXVII, no. 1 (Jun. 1990), 36-47 |
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| Main Author: | |
| Format: | Article |
| Language: | English |
| Published: |
1990
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| Subjects: |