Problem
a Explain what is meant by a foreign exchange shortage.
b What is it that typically causes such a shortage of foreign currency for LDCs during their easy ISI phase of industrialization?
c When does a foreign exchange shortage become a foreign exchange crisis?
d What, in general, do countries need to do to overcome a foreign exchange crisis situation in the future?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.