This paper shows that political parties strongly influence exchange rate policy, and that economic globalization has reversed which parties maintain overvalued exchange rates and which maintain undervalued exchange rates. When countries are insulated from the international economy, overvalued...

Exchange rate policy is influenced by numerous political factors, including the preferences of industries, policymakers, political parties as well as institutional arrangements, such as democracy, elections, the electoral system, the number of veto players and central bank independence. However,...

Why has China kept its exchange rate weak and undervalued for most of the past fifteen years? A large literature in IPE argues that interest groups influence exchange rate policy, but many believe that Chinese policymakers are immune to interest group pressures due to high degree of state...

This paper examines why some policymakers willingly adopt financial policies that increase the risk of a currency crisis, and what types of political institutions encourage them to do so. We hypothesize that the risk of currency crisis is lower in regimes where rulers are insulated from...

America’s recent turn toward protectionism has raised concerns about the future viability of the liberal international trading system. This study examines how and why public attitudes toward international trade change when one’s country is targeted by protectionist measures from abroad. To...

No living foreigner has shaped contemporary U.S. attitudes toward a single country more than Aung San Suu Kyi. As the seemingly vulnerable international avatar of democracy, she has effectively determined the parameters of possible U.S. policy choices. Although her Burma/Myanmar specific goals...

DEMANDING DEVALUATION -- Contents -- List of Figures -- List of Tables -- Acknowledgments -- List of Abbreviations -- Introduction -- 1. A Conditional Preference Theory of Undervalued Exchange Rates -- 2. Cross-Country Patterns in Exchange Rate Policy and Preferences -- 3. Why China Undervalues...