Currency Politics by Jeffry A. Frieden
The Political Economy of Exchange Rate Policy

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Synopsis


The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates.


Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics--including its exposure to currency risk and the price effects of exchange rate movements--determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil.


With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.


 

About Jeffry A. Frieden

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Jeffry A. Frieden is Professor of Government at Harvard University. He specializes in the politics of international monetary and financial relations. Frieden is the author (with Menzie Chinn) of Lost Decades: The Making of Americarsquo;s Debt Crisis and the Long Recovery. His previous books include Global Capitalism: Its Fall and Rise in the Twentieth Century; Debt, Development, and Democracy: Modern Political Economy and Latin America, 1965ndash;1985; and Banking on the World: The Politics of American International Finance; and he is the co-author or co-editor of many other books on related topics. His articles on the politics of international economic issues have appeared in a wide variety of scholarly and general-interest publications. David A. Lake is the Jerri-Ann and Gary E. Jacobs Professor of Social Sciences and Distinguished Professor of Political Science at the University of California, San Diego. He is the author, most recently, of Hierarchy in International Relations. Other books include Entangling Relations: American Foreign Policy in Its Century and Power, Protection, and Free Trade: International Sources of U.S. Commercial Strategy, 1887ndash;1939. In addition, he is co-editor of ten volumes and author of over 80 articles and book chapters on international relations, international political economy, and American foreign policy. J. Lawrence Broz is Assistant Professor in the Department of Political Science at the University of California, San Diego.
 
Published December 28, 2014 by Princeton University Press. 320 pages
Genres: Business & Economics. Non-fiction
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