Comments on ‘Monetary Theory and Policy in a Global Context with a Large International Debt’ by Paul Davidson

  • DeAnne Julius


Paul Davidson’s chapter covers a great deal of ground; indeed, it seemed to me three papers wrapped into one package:
  • A theoretical part contrasting monetarist and Keynesian approaches to monetary policy and exchange rate regimes;

  • A mathematical model comparing the effect on inflation of domestic and export-led growth strategies; and

  • A proposed solution to the so-called debt crises of the LDCs.


Exchange Rate Monetary Policy Central Banker Real Exchange Rate Exchange Rate Regime 
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  1. 1.
    See, for example, the proposal by James D. Robinson III, ‘A Comprehensive Agenda for LDC Debt and World Trade Growth,’ The AMEX Bank Review, Special Papers, no. 13, March 1988.Google Scholar

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© Stephen F. Frowen 1993

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  • DeAnne Julius

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