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• Devaluation policy is not adopted by other countries
• Objectives of devaluation can be achieved only at that time when inflation pressure does not increase because costly imports can increase prices in the country. In this case, balance of payments cannot improve.
• The balance of payments position can be improved through devaluation, when the sum of elasticity of demand for exports at abroad and imports at home is greater than one. When the sums of elasticity of demand for country’s products at broad and imports in a country is more than one, the devaluation will prove fruitful to remove deficit in the balance of payments position.
skilled writter answered the question on May 1, 2018 at 16:27
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