Perspectives of Innovations, Economics and Business

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Volume 7
Issue 1
Online publication date 2011-01-16
Title Devaluation as the instrument for recession overcoming in Bosnia and Herzegovina
Author Zeljko Maric
Abstract Devaluation is the instrument of monetary policy which has been used very often during the 20th century.  In recent time of globalization, the many limited factors (openness of the economy, capital movements, currency substitution, money illusion) significantly reduce or completely make impossible the devaluation implementation as the measure for foreign trade deficit or recession overcoming in many countries. This paper discusses on positive and negative effects of devaluation in the case of Bosnia and Herzegovina economy. 
Appleyard, D., Field, A., Cobb, S., 2008. International Economics, 6th edition, McGraw-Hill/Irwin

Krugman, P. and Obstfeld, M., 2006. International economics: Theory and policy, 7th edition, Addison Wesley

Mishkin, S., 2003. The economics of money, banking and financial markets, 6th edition update, Addison Wesley, Boston
Keywords Devaluation, openness of the economy, currency substitution, external indebtedness, Bosnia and Herzegovina.
Pages 8-11
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