Abstract
Obviously, a decrease in investment is unlikely to result from devaluation … the most favourable plausible hypothesis about the effect of devaluation on home investment is that it remains unchanged in real terms. (Black (1959) p. 269)
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References
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© 1993 International Economic Association
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Gavin, M. (1993). Devaluation, the Terms of Trade, and Investment in a Keynesian Economy. In: Frisch, H., Wörgötter, A. (eds) Open-Economy Macroeconomics. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12884-6_2
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DOI: https://doi.org/10.1007/978-1-349-12884-6_2
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