Abstract
The persistence of large payments imbalances in the face of considerable exchange rate variations have imparted new urgency to questions about the functioning of the balance of payments (BoP) adjustment process. The principle concern is that exchange rate changes appear to increase the risk and uncertainty in international trade which has been strengthened in recent years in response to increasing protectionist policy and sluggish growth of world trade.
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Schedule a callMore From: Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics
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