Lai, Ching-chong; Chang, Wen-ya - In: Journal of Economic Studies 19 (1992) September, pp. 48-57
Analyses how the status of balance of payments follows se\ill\ fulfilling expectations of currency devaluation. It is found that before a currency devaluation, whether the economy w\ill\ experience a balance-of-payments surplus or deficit crucial depends on the degree of capital mobility.