{"product_id":"9780801456497","title":"Demanding Devaluation: Exchange Rate Politics in the Developing World","description":"\u003cp\u003e   Exchange rate policy has profound consequences for economic development, financial crises, and international political conflict. Some governments in the developing world maintain excessively weak and \"undervalued\" exchange rates, a policy that promotes export-led development but often heightens tensions with foreign governments. Many other developing countries “overvalue” their exchange rates, which increases consumers' purchasing power but often reduces economic growth. In \u003cem\u003eDemanding Devaluation\u003c\/em\u003e, David Steinberg argues that the demands of powerful interest groups often dictate government decisions about the level of the exchange rate.\u003c\/p\u003e  \u003cp\u003e   Combining rich qualitative case studies of China, Argentina, South Korea, Mexico, and Iran with cross-national statistical analyses, Steinberg reveals that exchange rate policy is heavily influenced by a country’s domestic political arrangements. Interest group demands influence exchange rate policy, and national institutional structures shape whether interest groups lobby for an undervalued or an overvalued rate. A country’s domestic political system helps determine whether it undervalues its exchange rate and experiences explosive economic growth or if it overvalues its exchange rate and sees its economy stagnate as a result.\u003c\/p\u003e","brand":"Cornell University Press","offers":[{"title":"Default Title","offer_id":47078248415472,"sku":"9780801456497","price":39.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9780801456497_p0.jpg?v=1763726042","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9780801456497","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}