In This Review

Devaluation Under Pressure: India, Indonesia, and Ghana
Devaluation Under Pressure: India, Indonesia, and Ghana
By David B. H. Denoon
MIT Press, 1986, 260 pp.

Often a key ingredient of economic adjustment programs on which foreign aid is based, devaluation can acquire a high political charge in developing countries. And yet, as the author of this interesting book points out, not many political studies have been made of the subject. His three cases, from the late 1960s and early 1970s, differ greatly from one another so that not many generalizations are possible. But the case studies themselves are very well done and boil down a mass of material, much of it from participants and some still supposedly confidential.