Devaluing to Prosperity: Misaligned Currencies and Their Growth Consequences
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Devaluing to Prosperity: Misaligned Currencies and Their Growth Consequences

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Experts have long questioned the effect of currency undervaluation on overall GDP growth. They have viewed the underlying basis for this policy—intervention in currency markets to keep the price of the home currency cheap—as doomed to failure on both theoretical and empirical grounds. Moreover, the view has been that overvalued currencies hurt economic growth but undervalu...more
Paperback, 263 pages
Published August 29th 2012 by Peterson Institute
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