How to Make your Doctoral Research Relevant
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How to Make your Doctoral Research Relevant

Insights and Strategies for the Modern Research Environment

Edited by Friederike Welter and David Urbano

Everyone wants their research to be read and to be relevant. This exciting new guide presents a broad range of ideas for enhancing research impact and relevance. Bringing together researchers from all stages of academic life, it offers a far-reaching discussion of strategies to optimise relevancy in the modern research environment.
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Chapter 5: Can you spare a dollar, please? Foreign exchange shortage as a persistent challenge to economic development

Anne Löscher


Chapter 5 focuses on foreign or reserve currency shortage and its implications for development prospects. It is argued that the problem of foreign exchange shortages is persistent, causing problems for some Developing and Emerging Economies’ (DEEs) by inhibiting their potential for growth. The provision of reserve currencies is necessary for financing structural change and the conduct of monetary and fiscal policies which proves particularly important in times of crises. However, unfavourable trade structures make it hard to acquire enough foreign currency as exports of primary commodities are a poor source of foreign exchange. If the foreign exchange finance gap is closed via foreign loans, the issue of debt sustainability arises. The chapter uses the case of Ethiopia to illustrate the dilemma consisting of dependence on foreign exchange, an undiversified trade structure and risks of overindebtedness.

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