Upadhyaya, Kamal; Upadhyay, Mukti - In: Journal of Development Studies 35 (1999) 6, pp. 89-103
We study the effect of devaluation on output in six developing countries of Asia. In an empirical model that includes monetary, fiscal, and external variables, we examine the impact of devaluation as the effect of real exchange depreciation and alternatively as the effect of nominal devaluation...