Devaluation and debt restructuring worked.

Devaluing Kazakhstanis and converting them into Kazakhs .

Devaluation incites several restorative forces.

Devaluation, indeed, remains a taboo.

The devaluation of the currency dealt a crippling blow to the nation's economy.

But, the devaluation was much less important than is widely assumed.

And adjustment that is, currency devaluation was not an option.

External conditions are playing little part in China's slowdown. So devaluation is unlikely to be effective in boosting the overall rate of growth.

This destroyed what little confidence in the banking system remained. As foreign reserves continued to plummet, the peso's devaluation became inevitable.

Preserving exchange rates, however, provided vital time for people with money to get out at more favorable terms. Only devaluation restored growth to these countries.

Even if there is some loss of Chinese competitiveness, devaluation is not the answer.

Devaluation is not an option because of the common currency.

A depreciated rupee should help revive Indian exports and lift growth.

So devaluation is unlikely to be effective in boosting the overall rate of growth.

Only devaluation restored growth to these countries.

Devaluation is the main topic of this week and, most likely, the weeks to follow.

A slight devaluation would solve any remaining problem with export demand.

For these sectors, devaluation means an increase in costs, rather than a gain in competitiveness.

In fact, currency devaluations were critical to ending the Great Depression.

Devaluation of the dollar could improve US competitiveness in the short run, but it is not a solution.

Anyone who believes devaluation is an answer to China's problems misses the point.

But, in the absence of complementary action, depreciation whether engineered or market driven will make matters worse.

So devaluation isn't a decrease in the exchange rate of the national currency it's a decrease in the cost of the people.

The reality is that, under a flexible exchange rate regime, competitive devaluations do not produce undesirable imbalances.

Kairat Kelimbetov, Governor of the National Bank of Kazakhstan, argued in the newspaper Caravan that devaluation will help promote domestic production. The president of Kazakhstan's Light Industry Association, Lyubov Khudova, noted Light industry in Kazakhstan is gravely ill, and no amount of devaluation will help it.

If internal devaluation were the solution, the gold standard would not have been a problem in the Great Depression.

Vicious circles of economic instability, devaluation, and capital flight have brought down seemingly unbreakable regimes throughout history.

Likewise, a rapid deflation in prices and wages, known as an internal devaluation, would lead to five years of ever deepening depression.

The ruble s depreciation is bound to fuel inflation, already around 11 and far above the CBR s 5 target.

Is Mr. Stiglitz's devaluation the answer to China's current troubles and is it a good idea for the world economy?

Four years of recession and devaluation of the peso, has seen Argentina descend into a veritable economic hell.

Assuming that Greece wishes to stay within the eurozone, an internal devaluation, i.e., a significant cut in nominal wages, is inevitable.

(If it devalued the exchange rate, creditors holding Argentine debt denominated in pesos would receive a smaller amount in terms of US dollars).

The second possibility is a more pronounced devaluation of the dollar, bringing it well beyond the current levels relative to both the euro and the yen.

First, all were caused by a profound crisis of the social welfare state falling output, rising unemployment, large budget deficits, inflation, and devaluation.

But in a high inflation economy like Turkey, and in the context of high growth, a big depreciation would only have reignited inflation, knocking the country back into crisis.

Currency devaluation is a zero sum game, because not all countries can depreciate and improve net exports at the same time. Monetary policy will be eased as inflation becomes a non issue in advanced economies (and a lesser issue in emerging markets).

Currency devaluation is a zero sum game, because not all countries can depreciate and improve net exports at the same time.

Secondly, devaluation of the RMB may incite tit for tat retaliation by other Asian economies. The decline of China's exports have been mainly caused by a 20 decrease in exports to other Asian markets since 1998.

Moreover, devaluation will impose heavy burdens on China, for example, it will certainly increase the cost of servicing China's debts and may also worsen the overall balance of payment.

Secondly, devaluation of the RMB may incite tit for tat retaliation by other Asian economies.

Moreover, Russia s default and devaluation in 1998 undermined the progress that was accomplished starting in 1996 in the banking sector and the capital markets in general.

That move was followed this month by a surprise devaluation of the renminbi, which suggests that the shift away from export led growth is not working as hoped.

Internal devaluation, combined with austerity and the single market principle (which facilitates capital flight and the hemorrhaging of banking systems) is a toxic combination.

Greece will now need to grind away at austerity, hoping that in some distant future internal devaluation that is, wage and price deflation will help to spark a recovery.