Structural Adjustment and Exchange Rate Policy in Yugoslavia

Gorazd Nikić

Chapter 23 in Economic Development and World Debt, 1989, pp 297-307 from Palgrave Macmillan

Abstract: Abstract Postwar experience has indicated a propensity in many developing countries to pursue the policy of overvalued domestic currency. This has been widely recognised as one of the major developmental policy failures which has substantially contributed to distortions in economic structures, balance of payments problems and the debt crisis. Appropriate exchange-rate policies are, therefore, suggested and recognised as a necessary condition for improvements in the balance of payments and the relief of the debt problem. It is also recognised that appropriate exchange-rate policies will differ according to the character of sources and nature of disturbances in particular economies.

Keywords: Foreign Exchange; Structural Adjustment; Foreign Exchange Market; Domestic Consumption; Average Annual Growth Rate (search for similar items in EconPapers)
Date: 1989
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DOI: 10.1007/978-1-349-20044-3_23

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