This book extends recent theories of incomplete markets to investigate empirically the appropriate balance between the market and the state in the trade relations between developed and developing countries. The conclusion is that in an ideal world government intervention in foreign exchange and trade is necessary in developing countries in the early stages and inevitably decreases as development occurs. Rationing of foreign exchange prevents a 'soft currency distortion' that commonly afflicts developing countries and can turn comparative advantage trade into competitive devaluation trade, with severe losses of income and welfare. Yotopoulos finds that the level of underdevelopment narrowly circumscribes and conditions the extent to which free-market, free-trade, laissez-faire can be beneficial, contrary to the mainstream policy paradigm as currently applied. The analysis and tests draw on empirical research from seventy countries and four extended country studies to confirm the usefulness and validity of the theoretical framework.
The distinguished author of this interesting booklet argues forcibly that currency inflation is one of the root causes of trade collapse, and that only by a policy of steady and continuous deflation can recovery be assured. He urges that value must rule and not be at the sport of currency, varying automatically with the value of gold or, arbitrarily, at the will of the Treasury. Currency inflation, he maintains, is essentially undemocratic, and far more disastrous to the poor than to the rich, who are in a position to escape many of its evil consequences.
This book explores the role of political factors in the occurrence of currency crises, using an eclectic approach that blends case studies, a rigorous theoretical discussion, and econometric analysis.
Since the Second World War, the field of ion exchange has taken a dominant role in offering solutions to many problems in the developed and developing world. It has evolved to a wide array of applications, including mining, microelectronics, drug delivery and detection, food, fertilizers, chemical cleaning, catalysis, bioseparation, water management, environmental research and practices, and energy. The six chapters in this book represent diverse contributions from researchers around the globe who are making noticeable strides in the field in currently important areas: * Brackish water desalination * Removing boron from water * Sustainable approaches for synthesizing commercially important epoxide building blocks * Solid-phase heavy-metal separation * Separating concentrated ion mixtures in sorption columns * Sensing toxic metals Ion Exchange and Solvent Extraction: A Series of Advances, Volume 22 provides a focused review of new materials and new processes that have developed and are rapidly growing. It describes cutting-edge research and practices in the use of ion exchange for building a cleaner, sustainable world and provides thoughtful insights on what ion exchange may do for us in the future.
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