The Effects of Devaluation on the Trade Balance and the Balance of Payments
Some New Results
Bibliographic Data
| ID | 10179775 |
|---|---|
| Authors | Marc A Miles (corresponding author) |
| Year | 1979 |
| Volume | 87 |
| Issue | 3 |
| Pages | 600-620 |
| Publication date | 1979-06-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260780 |
| OpenAlex | W2025155476 |
| Language | EN |
| Citations received | 10 |
| References cited | 3 |
This paper examines the statistical relationship between devaluation and both the trade balance and the balance of payments for 16 devaluations of 14 countries in the 1960s. Using several tests involving both the seemingly unrelated and pooled cross-section time-series regression techniques, the paper tests the effect of devaluation while standardizing for other variables that may affect the foreign accounts. While the balance of payments does seem to improve following devaluation, no evidence is found to support the hypothesis that devaluation improves the trade balance. The paper concludes that the adjustment to devaluation is essentially monetary in nature, involving only a portfolio stock adjustment
Balance (ability · Balance of payments · Balance of trade · Devaluation · Economics · Exchange rate · Financial economics · International economics · Monetary economics · Portfolio · Corporate Finance and Governance · Global Financial Crisis and Policies · Monetary Policy and Economic Impact · Psychology
The exchange rate and the balance of trade
Devaluation and the J-Curve
Optimal Foreign Exchange Market Intervention
Optimal Foreign Exchange Market Intervention
The asymmetric impact of exchange rate changes on bilateral trade balance
An empirical analysis of Korea's trade imbalances with the US and Japan
Crawling peg and the real exchange rate
The balance of trade and exchange rates
The social welfare impact of privatisation in sub‐Saharan Africa
Monetary and Exchange Rate Policies for International Financial Stability
| Citations per year | 0.21 |
|---|---|
| Citation span | 1978 - 2023 (46) |
| Highly cited | No |