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Balance of Payments Adjustment Macro Facets of International Finance Revisited
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Augustine C. Arize, ed., Theologos Homer Bonitsis, ed., Ioannis N. Kallianiotis, ed., Krishna M. Kasibhatla, ed., John Malindretos
ISBN: 0-313-30826-8
ISBN-13: 978-0-313-30826-0
280 pages
Praeger Publishers
Publication: 1/30/2000
List Price: $131.95 (UK Sterling Price: £91.95)
Availability: Print on demand
Media Type: Hardcover
Trim Size: 6 1/8 x 9 1/4
Subjects:
Description: The five parts of this collection of essays systematically and thoroughly examine the two competing theories of balance of payments and adjustment, namely the Keynesian and the Monetary approaches. Each part deals with specific aspects of the two approaches. Part I surveys the theories behind these two approaches, looking at the presuppositions, main theory, and policy recommendations which they include. Part II examines the empirical literature and describes the numerous models which have been proposed. Part III critiques the two theories on their assumptions, policy advice and empirical modeling. Part IV compares and contrasts the two views, both theoretically and empirically. Empirical studies on different countries are performed to emphasize the differing set of accounts and variables of the two approaches. Part V considers the approaches in a regime of flexible exchange rates. Scholars, students and researchers will find this collection of great help in understanding the two approaches to balance of payments and adjustment.
Table of Contents:
  • Introduction
    Part I
    Full Employment, Balance of Payments and Adjustments in Unified (Fixed) Exchange Rate Regimes by Dilip K. Ghosh and Gilles Duteil
    The Empirical Evidence to the Traditional Approach to the Capital Account by Valerie Englander, Melvin Johnson, and John Malindretos
    A Survey of the Monetary Approach to International Finance by Krishna M. Kasibhatla, John Malindretos, and Demetri Tsanacas
    Part II
    A Critique of the Traditional Approach to International Finance by Theologos Homer Bonitsis and John Malindretos
    The Monetary Theory of the Balance of Payments: A Retrospective Analysis by H. Peter Gray
    Part III
    The Traditional Theory to the Current Account: An Empirical Examination by Augustine C. Arize, et al.
    Empirical Evidence of the Monetary Approach to Balance-of-Payments Adjustments by Augustine C. Arize, et al.
    Part IV
    Keynesian and Monetary Approaches to the Balance-of-Payments by Luis Eduardo Rivera-Solis, et al.
    International Adjustment for Kenya: The Relevance of the Traditional and Monetary Approaches by Luis Eduardo Rivera-Solis, Krishna M. Kasibhatla, and John Malindretos
    A Comparison of the Monetary and the Traditional Approaches to International Competitiveness by Krishna M. Kasibhatla, John Malindretos, and Paul R. Kutasovic
    The Keynesian and Monetary Approaches to International Accounts Adjustment: Some Heuristics for Germany by Theologos Homer Bonitsis and John Malindretos
    Part V
    The Traditional Approach to Balance of Payments Adjustment under Flexible Exchange Rates by Augustin C. Arize, Elias Grivoyiannis, and Ioannis N. Kallianotis
    Doctrinal Views on Exchange Rate Determination: An Eclectic Approach by Dilip K. Ghosh, Abraham Mulugetta, and Asrat Tessema
    Recent Evidence on the Determinants of Foreign Exchange Rates by Demetrios Giannaros
    The Monetary Approach to Exchange Rates and the Canadian Dollar over the Long Run by Bill Francis, Iftekhar Hasan, and James R. Lothian
    Conclusion
    Bibliography
    Index
About the Author: AUGUSTINE C. ARIZE is Professor of General Business and Systems Management at East Texas State University.

THEOLOGOS HOMER BONITSIS is Associate Professor of Finance at the New Jersey Institute of Technology.

IOANNIS N. KALLIANIOTIS is Associate Professor of Finance in the School of Management at the University of Scranton.

KRISHNA M. KASIBHATLA is Associate Professor of Business and Economics at Bennett College.

JOHN MALINDRETOS is Assitant Professor of Finance at Yeshiva University.
LCC Class: 382
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