Leads and Lags: The Main Cause of Devaluation

Front Matter....Pages i-xi
Introductory....Pages 1-8
What are Leads and Lags?....Pages 9-20
Causes of Leads and Lags....Pages 21-27
The Timing of Imports and Exports....Pages 28-34
The Timing of Payments....Pages 35-42
Choice of the Currency of Financing....Pages 43-49
Changing the Currency of Payments....Pages 50-59
Forward Exchange Operations....Pages 60-67
Invisible Trade....Pages 68-76
Inventory-Hedging....Pages 77-82
Triangular Leads and Lags....Pages 83-89
Floating Exchange Rates....Pages 90-99
The Economics of Leads and Lags....Pages 100-107
Prospects of Expanding Leads and Lags....Pages 108-111
Interest Rates Policy....Pages 112-116
Credit Squeeze....Pages 117-121
Exchange Control....Pages 122-128
Export Drives and Import Controls....Pages 129-135
Intervention in Forward Exchanges....Pages 136-141
Is Devaluation a Remedy?....Pages 142-145
Restoring Confidence in the Currency....Pages 146-150
Back Matter....Pages 151-169