DEVALUATION AS THE INSTRUMENT FOR RECESSION OVERCOMING IN BOSNIA AND HERZEGOVINA

Zeljko Maric
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Zeljko Maric: Faculty of Economics University of Mostar, Bosnia and Herzegovina

Perspectives of Innovation in Economics and Business (PIEB), 2011, vol. 7, issue 1, 8-11

Abstract: Devaluation is the instrument of monetary policy which has been used very often during the 20th century. In recent time of globalization, the many limited factors (openness of the economy, capital movements, currency substitution, money illusion) significantly reduce or completely make impossible the devaluation implementation as the measure for foreign trade deficit or recession overcoming in many countries. This paper discusses on positive and negative effects of devaluation in the case of Bosnia and Herzegovina economy.

Keywords: Devaluation; openness of the economy; currency substitution; external indebtedness; Bosnia and Herzegovina. (search for similar items in EconPapers)
JEL-codes: F F3 F31 (search for similar items in EconPapers)
Date: 2011
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