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Why do currency crises happen? What conditions set the stage for such a crisis? How severe will it be? When will it happen? This book answers these questions, illustrating the points by examining the exchange rate realignments of the European Monetary System. It also shows how balancing the tension between domestic and international politics plays a vital part in a government's willingness to uphold its exchange rate commitments. Michele Chang pays particular attention to the role of domestic elections, since these may prevent governments from credibly committing to a fixed exchange rate and from responding quickly and coherently to market instability, thus encouraging speculation.
Why do currency crises happen? What conditions set the stage for such a crisis? How severe will it be? When will it happen? This book answers these questions, i
This paper explores the determinants of expected rates of realignment of the French franc/Deutsche mark exchange rate during the period 1987-1991. It does so by
Abstract: The upper-income, advanced industrial countries of the world today all have market economies with open competition, competitive multi-party democratic
Education for Sustainable Development (ESD) lies at the heart of global, regional and national policy agendas, with the goal of achieving socially and environme
