Real Exchange Rates, Devaluation, and Adjustment: Exchange Rate Policy in Developing Countries

  title={Real Exchange Rates, Devaluation, and Adjustment: Exchange Rate Policy in Developing Countries},
  author={Sebasti{\'a}n Edwards},
"Real Exchange Rates, Devaluation, and Adjustment "provides a unified theoretical and empirical investigation of exchange rate policy and performance in scores of developing countries. It develops a theory of equilibrium and disequilibrium real exchange rates, takes up the question of why devaluations are the most controversial policy measures in poorer nations, and discusses what determines their success or failure.In a lucid fashion, Edwards organizes vast amounts of data on exchange rates… 
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