REPORT Economic GrowthGlobalization and TradeWorld

Going Down With the Dollar: The Cost to Developing Countries of a Declining Dollar


September 2004, Mark Weisbrot, David Rosnick, and Dean Baker

In the years since the East Asian financial crisis in 1997, many developing countries have sought to increase their holdings of foreign reserves to protect their currencies against financial instability. This paper shows that, because the dollar is overvalued, this strategy may actually increase risks.

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