The economy can be affected, either positively or negatively, by the process of devaluation of local currency. An improvement in trade balance is considered as one of the most significant and beneficial impacts of devaluation. However, higher inflation would lead to expensive imports that offset...

It is suggested that developing countries could catch up with the developed world if only they attained increased levels of human development. The links between growth and human development are complex even with human capital its self and human capital to the physical capital. Besides large...