In This Review

International Monetary Reform and the Developing Countries: The Rule of Law Problem
International Monetary Reform and the Developing Countries: The Rule of Law Problem
By Gilbert P. Verbit
Columbia University Press, 1975, 335 pp

Exchange controls breed corruption, concealment of standards, and the arbitrary use of power, with the result that the rule of law is undermined, especially in developing countries. That is the message of this well-argued book that uses a great deal of interesting material to demonstrate what quite a few observers have believed for some time.