Search results for: the-macroeconomics-of-developing-countries

Macroeconomics for Developing Countries

Author : Raghbendra Jha
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This updated edition develops the themes contained in the first edition, taking into account the changes that have occurred in the global economy since the turn of the millennium.

The Macroeconomics of Developing Countries

Author : Giovanni Andrea Cornia
File Size : 36.93 MB
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"The book focuses on the short- and long-term macroeconomic challenges faced by developing countries characterized by missing, incomplete and dualistic markets and weak institutions. Such problems affect long-term growth, short-term macroeconomic equilibrium, employment and inequality far more than in the advanced economies. A central message of the book is that ignoring these features and applying to developing countries models inspired by the reality of advanced economies may lead to wrong conclusions and policies. These challenges are discussed for a number of architypes of developing economies dependent on land and natural resources, affected by supply rigidities in agriculture, and featuring dualistic markets, a dominant informal sector, fast population growth, and chronic dependence on the export of commodities and a volatile external finance. Finally, the book discusses the impact on growth, inequality and poverty of the stabilization and structural adjustment reforms that were increasingly implemented during the last 30 years. These issues have acquired center stage after the launch of the Millennium Development Goals and Sustainable Development Goals initiatives that have not spelled out a clear macroeconomic approach. There is a risk therefore that wrong policies and sudden shocks may derail the progress towards the SDGs achieved by means of social policies"--

Studies in the Macroeconomics of Developing Countries

Author : Mihir Rakshit
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Using theoretical models built upon the major institutional and economic structures of developing countries, this study discusses the impact of food surpluses, trade between industry and agriculture, credit availability, financial intermediation, investment patterns, asset marketability, transaction preference, and strong land preference on the macroeconomic policies of these countries.

Open Economy Macroeconomics in Developing Countries

Author : Carlos A. Végh
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A comprehensive and rigorous text that shows how a basic open economy model can be extended to answer important macroeconomic questions that arise in emerging markets. This rigorous and comprehensive textbook develops a basic small open economy model and shows how it can be extended to answer many important macroeconomic questions that arise in emerging markets and developing economies, particularly those regarding monetary, fiscal, and exchange rate issues. Eschewing the complex calibrated models on which the field of international finance increasingly relies, the book teaches the reader how to think in terms of simple models and grasp the fundamentals of open economy macroeconomics. After analyzing the standard intertemporal small open economy model, the book introduces frictions such as imperfect capital markets, intertemporal distortions, and nontradable goods, into the basic model in order to shed light on the economy's response to different shocks. The book then introduces money into the model to analyze the real effects of monetary and exchange rate policy. It then applies these theoretical tools to a variety of important macroeconomic issues relevant to developing countries (and, in a world of continuing financial crisis, to industrial countries as well), including the use of a nominal interest rate as a main policy instrument, the relative merits of flexible and predetermined exchange rate regimes, and the targeting of “real anchors.” Finally, the book analyzes in detail specific topics such as inflation stabilization, “dollarization,” balance of payments crises, and, inspired by recent events, financial crises. Each chapter includes boxes with relevant empirical evidence and ends with exercises. The book is suitable for use in graduate courses in development economics, international finance, and macroeconomics.

Macroeconomics for Developing Countries

Author : Paul Cook
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Macroeconomics For Developing Countries textbook provides an introduction to the subjects of macro-economic management and stabilization policy which have become increasingly important for developing countries in recent years. There are significant structural, institutional and behavioural differences between developed and developing economies. The authors have combined elements of standard macro-economic theory and the findings of empirical research to offer a macro-economic framework which is used to examine problems like inflation, unemployment and balance of payments fluctuations. They also include an evaluation of the use of stabilization policies which are particularly relevant to developing countries.

Open economy Macroeconomics for Developing Countries

Author : Akhtar Hossain
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The authors (economics, U. of Newcastle, Australia and U. of Western Sydney, Australia, respectively) argue that there is no dichotomy between short-term macroeconomic stabilization and long-term economic growth. They attempt to show that macroeconomic stability is a prerequisite for sustained growth and the root of macroeconomic instability in developing countries lies in the government budget deficits. Annotation copyrighted by Book News, Inc., Portland, OR

The Macroeconomics of Development and Poverty Reduction

Author : Jan Priewe
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To reach the "Millennium Development Goal" of halving poverty by 2015 in developing countries requires first and foremost higher economic growth. This can hardly succeed when policies continue to adhere to the traditional neo-liberal strategies of the "Washington Consensus". In this study, different growth and stagnation "regimes" are explored. To enter a growth path, more emphasis has to be put on prudent macroeconomic policies striving for sound money, less external debt, balance of payment equilibrium, containment of dollarisation, more stable exchange rates and on deepening the domestic financial sector. Fostering capital accumulation is more important than perfecting the competitive allocation of resources through pervasive liberalisation. The economic performance of most East and South Asian countries which did not follow the strategy of the "Washington Consensus" contrasts sharply with a stagnation trend in Africa and Latin America in the last decades. Country case studies on China, Vietnam, Belarus and Uganda are presented. The analysis follows a modern Keynesian line of thought.

Open economy Macroeconomics for Developing Countries

Author : Md. Akhtar Hossain
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The authors (economics, U. of Newcastle, Australia and U. of Western Sydney, Australia, respectively) argue that there is no dichotomy between short-term macroeconomic stabilization and long-term economic growth. They attempt to show that macroeconomic stability is a prerequisite for sustained growth and the root of macroeconomic instability in developing countries lies in the government budget deficits. Annotation copyrighted by Book News, Inc., Portland, OR

Development Macroeconomics

Author : Pierre-Richard Agénor
File Size : 53.73 MB
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The global financial crisis triggered severe shocks for developing countries, whose embrace of greater commercial and financial openness has increased their exposure to external shocks, both real and financial. This new edition of Development Macroeconomics has been fully revised to address the more open and less stable environment in which developing countries operate today. Describing the latest advances in this rapidly changing field, the book features expanded coverage of public debt and the management of capital inflows as well as new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, currency unions, and the choice of an exchange-rate regime. A new chapter on dynamic stochastic general equilibrium (DSGE) models with financial frictions has been added to reflect how the financial crisis has reshaped our thinking on the role of such frictions in generating and propagating real and financial shocks. The book also discusses the role of macroprudential regulation, both independently and through its interactions with monetary policy, in preserving financial and macroeconomic stability. Now in its fourth edition, Development Macroeconomics remains the definitive textbook on the macroeconomics of developing countries. The most authoritative book on the subject—now fully revised and expanded Features new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, and much more Comes with online supplements on informal financial markets, stabilization programs, the solution of DSGE models with financial frictions, and exchange rate crises

Macroeconomic Developments and Prospects in Low Income Developing Countries

Author : International Monetary Fund. Strategy, Policy, & Review Department
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"This paper is the fourth in a series that examines macroeconomic developments and prospects in Low Income Developing Countries (LIDCs). LIDCs are Fund member countries where gross national income (GNI) per capita lies below a threshold level and where external financial linkages and socioeconomic indicators have not lifted them into emerging market status. There are 59 countries in the LIDC grouping, accounting for about one-fifth of the world’s population and 4 percent of global output. The paper examines macroeconomic trends across LIDCs in recent years, contrasting key features of the current situation with the period prior to the 2014 decline in commodity prices. Particular attention is given to the evolution of fiscal positions and public debt levels, including detailed analysis of the drivers of debt accumulation and the current severity of debt vulnerabilities. The analysis is grounded in, and draws on, the analysis and databases used to compile the World Economic Outlook: this report drills down into the WEO database to look in detail at the experience of LIDCs."

Boom Crisis and Adjustment

Author : Ian Malcolm David Little
File Size : 69.95 MB
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Boom, Crisis, and Adjustment reviews the macroeconomic experiences of eighteen developing countries from 1974 to 1989. The authors address why the experiences and policy reactions have differed among the countries, and how their individual growth rates were affected by these policy reactions.

Macroeconomic Analysis and the Developing Countries 1970 1990

Author : Ian Malcolm David Little
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Development Macroeconomics

Author : Basil Oberholzer
File Size : 49.91 MB
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This insightful book offers a comprehensive analysis of how macroeconomics can steer development and reduce poverty. It untangles how developing countries can apply effective economic policies in spite of the challenges they face.

The Economics of Adjustment and Growth

Author : Pierre-Richard Aga(c)Nor
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This book provides a systematic and coherent framework for understanding the interactions between the micro and macro dimensions of economic adjustment policies; that is, it explores short-run macroeconomic management and structural adjustment policies aimed at promoting economic growth. It emphasizes the importance of structural microeconomic characteristics in the transmission of policy shocks and the response of the economy to adjustment policies. It has particular relevance to the economics of developing countries. The book is directed to economists interested in an overview of the economics of reform; economists in international organizations, such as the UN, the IMF, and the World Bank, dealing with development; and economists in developing countries. It is also a text for advanced undergraduate students pursuing a degree in economic policy and management and students in political science and public policy.

Public Finance in Developing Countries

Author : Vito Tanzi
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This lively and accessible book discusses the real world fiscal issues in developing countries within a realistic macroeconomic and social framework.It represents the best synthesis currently available of the link between public finance and macroeconomics in developing countries, with emphasis on positive rather than normative aspects. The first part of the book emphasizes the reasons why normatively prescribed policy objectives are often not achieved. The second part includes various chapters that show the close link that exists between developments in the public finances and in the macroeconomic situation of these countries. The impact on inflation and of the real exchange rate on tax revenue is highlighted. The third part discusses various aspects of taxation and the requirements for successful tax reform.

Macroeconomic Fluctuations in Developing Countries

Author : Mr.Eswar Prasad
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This paper documents the main stylized features of macroeconomic fluctuations for 12 developing countries. Cross-correlations between domestic industrial output and a large group of macroeconomic variables (including fiscal variables, wages, inflation, money, credit, trade, and exchange rates) are presented. Also analyzed are the effects of industrial country economic conditions on output fluctuations in these countries. The robustness of the results is examined using different detrending procedures. The results indicate many similarities between macroeconomic fluctuations in developing and industrial countries (procyclical real wages; countercyclical variation in government expenditure) and some important differences (countercyclical variation in the velocity of monetary aggregates).

Handbook of Macroeconomics

Author : John B. Taylor
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This text aims to provide a survey of the state of knowledge in the broad area that includes the theories and facts of economic growth and economic fluctuations, as well as the consquences of monetary and fiscal policies for general economic conditions.

Modelling Interest free Economy

Author : Muhammad Anwar
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General equilibrium macroeconomic models are considered essential for evaluating the impact of monetary and fiscal policies in an economy. This aspect has not received, until now, significant attention. This present work, by Dr. Muhammad Anwar, develops general equilibrium models of income determination suitable for interest-free economies. It can be used to understand several implications of making a transition from the conventional financial system to an interest-free financial system. There are numerous Muslim countries seeking to adopt the new interest-free system. These countries may find it usefrrl to utilize the insights gained from such study to facilitate the establishment of an Islamic interest-free financial system. The economic model offered in this book also shows clearly and scientifically that ifthe interest-based financial system is replaced by the interestfree financial system, then the real rates of return for savers and investors in the economy will be preserved during inflationary and deflationary periods. On the other hand, financial repression results when savers are badly hurt during inflationary periods in an interest-bearing economy. This study demonstrates that the inflation-ridden developing countries would be definiæly better offif they adopt the inærest-free financial system in place of the prevalent interest-bearing sysæm. This pioneering work is a new addition to the library of Islamic Economics and an important aid to economic planners and students of Islamic Economics.

Explaining Macroeconomic Fluctuations in a Developing Country

Author : Ahmed R. El-Safty
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Development Macroeconomics

Author : Pierre-Richard Ag{acute}enor
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Addressing an audience of policy-oriented economists and theorists, graduate students and advanced undergraduates, this updated edition reviews and reassesses the research done since 1980 in the macroeconomics of developing countries.