Project Syndicate
April 29, 2024
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See citation below for complete author information.
James W. Harpel Professor of Capital Formation and Growth
Abstract
In 1975, the Nobel laureate economist William D. Nordhaus suggested that developing economies might seek to prop up the value of their currencies before an election, only to undergo a devaluation soon after. Recent experiences in Nigeria, Turkey, Argentina, Egypt, and Indonesia seem to bear this out.
Citation
Frankel, Jeffrey. "The Election-Devaluation Cycle." Project Syndicate, April 29, 2024.