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Exchange Controls Cannot be Enforced
Author(s) -
Phylaktis Kate
Publication year - 1985
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.1985.tb01058.x
Subject(s) - inflation (cosmology) , capital (architecture) , exchange rate , economics , control (management) , fixed exchange rates , market economy , business , monetary economics , management , history , physics , archaeology , theoretical physics
Controls of the export of capital are condemned as depriving British industry of the sinews of expansion and denying the economy of opportunities to ‘create jobs’. Kate Phylaktis, of the Cit/University Business School, maintains that exchange controls are difficult to enforce, and the difficulties increase the longer controls remain. Whether the restrictions exist or not, exchange rates adjust themselves to the differences in the rates of national inflation.