How Long to Read An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995

How Long Does it Take to Read An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995?

It takes the average reader 4 hours and 20 minutes to read An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995 by Francisco J. Larios

Assuming a reading speed of 250 words per minute. Learn more

Description

Since the late 1970's, but particularly since the mid-1980s, the economy of Nicaragua has had persistent and large macroeconomic imbalances, while GDP per-capita has declined to 1950s' levels. By the second half of the 1990s, huge fiscal deficits and a reduction of foreign financing resulted in record hyperinflation. The Sandinista government's (1979–1990) harsh stabilization program in 1988–89 had only modest and short-lived success. It was doomed by their inability to lower the public sector deficit due to the war, plus diminishing financial support from abroad. Hyperinflation stopped only after their 1990 electoral defeat ended the war and massive aid began to flow in. Five years later, macroeconomic stability is still very fragile. A sluggish recovery of export agriculture plus import liberalization, have impeded a reduction of huge trade and current account deficits. Facing the prospects of diminished aid flows, the government's strategy has hinged on the achievement of a real devaluation through a crawling-peg adjustment of the nominal rate. However, at the end of 1995 the situation of the external accounts was still critical, and the modest progress achieved was attributable to cyclical terms-of-trade improvement and changes in the political outlook of agricultural producers. Using a Computable General Equilibrium Model and a Social Accounting Matrix constructed for this dissertation, the importance of structural rigidities in production and demand in explaining such outcome is shown. It is shown that under the plausible structural assumptions incorporated in the model, the role of devaluation in the adjustment process is restricted by structural rigidities. Moreover, contrary to the premise of the orthodox economic thinking behind the economic program, it is the contractionary effect of devaluation more than its expenditure-switching effects that provide the basis for is use in solving the external sector's problems. A fixed nominal exchange rate is found to lead to adverse results. The broader conclusion that emerges from the study is that a new social compact and a rapid increase in infrastructure spending plus fiscal support for the traditional agro-export activities is at the center of a successful adjustment towards external viability in Nicaragua.

How long is An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995?

An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995 by Francisco J. Larios is 255 pages long, and a total of 65,025 words.

This makes it 86% the length of the average book. It also has 79% more words than the average book.

How Long Does it Take to Read An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995 Aloud?

The average oral reading speed is 183 words per minute. This means it takes 5 hours and 55 minutes to read An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995 aloud.

What Reading Level is An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995?

An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995 is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995?

An Evaluation of Exchange Rate Policy and Economic Adjustment in Nicaragua, 1993-1995 by Francisco J. Larios is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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