The Rationale of Import Surcharges

Benjamin Higgins

Economics and Finance in Indonesia, 1953, 228-236

Abstract: These conditions included, as one of their major aspects, disequilibrium in the foreign exchange market. As Dr. Bernstein points out in the preceding article, "one function of exchange rates is to assist in bringing a country's international payments into a tenable balance", by bringing costs and prices into a relationship that will encourage a sufficient flow of exports to provide needed foreign exchange, and by limiting impbrts to "the amount that can be paid for with current exchange receipts and normal capital inflow". Obviously, in 1952 Indonesia's foreign exchange rate failed to perform this function.

Date: 1953
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