Macroeconomic Stability In Developing Countries

Author : Peter Montiel,Luis Servén
Publisher : World Bank Publications
Page : 49 pages
File Size : 55,7 Mb
Release : 2004
Category : Developing countries
ISBN : 8210379456XXX

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Macroeconomic Stability in Developing Countries by Peter Montiel,Luis Servén Pdf

"In the 1990s macroeconomic policies improved in a majority of developing countries, but the growth dividend from such improvement fell short of expectations, and a policy agenda focused on stability turned out to be associated with a multiplicity of financial crises. Montiel and Serven take a retrospective look at the content and implementation of the macroeconomic reform agenda of the 1990s. They review the progress achieved with fiscal, monetary, and exchange rate policies across the developing world, and the effectiveness of the changing policy framework in promoting stability and growth. The main lesson is that slow growth and frequent crises resulted, more often than not, from shortcomings in the reform agenda of the 1990s. These shortcomings essentially concern the depth and breadth of the macroeconomic reform agenda, its attention to macroeconomic vulnerabilities, and the complementary reforms outside the macroeconomic sphere"--Abstract.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 107 pages
File Size : 50,7 Mb
Release : 2014-07-03
Category : Business & Economics
ISBN : 9781498343664

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Sustaining Long-Run Growth and Macroeconomic Stability in Low Income Countries - The Role of Structural Transformation and Diversification - Background Notes by International Monetary Fund Pdf

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Author : Iyanatul Islam
Publisher : Springer
Page : 343 pages
File Size : 48,9 Mb
Release : 2014-02-25
Category : Business & Economics
ISBN : 9781137379252

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Beyond Macroeconomic Stability by Iyanatul Islam Pdf

This volume goes beyond a narrow conceptualization of macroeconomic stability and explores the link between socio-economic policies, structural transformation and inclusive development. It rests on three thematic pillars: the limits of conventional macroeconomics; the long run agenda of structural transformation and the development of capabilities.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 55,8 Mb
Release : 2024-06-28
Category : Electronic
ISBN : 9789814470889

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Macroeconomic Policies for Stable Growth by Anonim Pdf

Author : Delano Villanueva
Publisher : World Scientific
Page : 271 pages
File Size : 41,7 Mb
Release : 2008
Category : Business & Economics
ISBN : 9789812818300

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Macroeconomic Policies for Stable Growth by Delano Villanueva Pdf

"This volume is a collection of published and unpublished papers that the author has written over the last two decades during part of his tenure at the International Monetary Fund, the South East Asian Central Banks Research and Training Center, and Singapore Management University. The policy-oriented book examines the links between macroeconomic policies and noninflationary, full-employment levels and growth rates of aggregate gross domestic product, with particular focus on the application in emerging markets of the tools of growth theory. Theoretically sound and grounded in practical wisdom, this book is an essential reading for economic, financial and developmental policymakers, professional economists, and undergraduate/graduate students in economics and social sciences."--BOOK JACKET.

Author : Peter J. Montiel
Publisher : Unknown
Page : 49 pages
File Size : 53,6 Mb
Release : 2016
Category : Electronic
ISBN : OCLC:1290705025

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Macroeconomic Stability in Developing Countries by Peter J. Montiel Pdf

In the 1990s macroeconomic policies improved in a majority of developing countries, but the growth dividend from such improvement fell short of expectations, and a policy agenda focused on stability turned out to be associated with a multiplicity of financial crises. Montiel and Serven take a retrospective look at the content and implementation of the macroeconomic reform agenda of the 1990s. They review the progress achieved with fiscal, monetary, and exchange rate policies across the developing world, and the effectiveness of the changing policy framework in promoting stability and growth. The main lesson is that slow growth and frequent crises resulted, more often than not, from shortcomings in the reform agenda of the 1990s. These shortcomings essentially concern the depth and breadth of the macroeconomic reform agenda, its attention to macroeconomic vulnerabilities, and the complementary reforms outside the macroeconomic sphere.This paper - a joint product of the Office of the Chief Economist, Latin America and the Caribbean Region, and the Poverty Reduction and Economic Management Network - is part of a larger effort in the Bank to draw policy lessons from the development experience of the 1990s.

Author : Peter Montiel,Luis Servén
Publisher : Unknown
Page : 62 pages
File Size : 54,6 Mb
Release : 2005
Category : Developing countries
ISBN : OCLC:1030875613

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Macroeconomic Stability in Developing Countries by Peter Montiel,Luis Servén Pdf

Over the 1990s macroeconomic policies improved in most developing countries, but the growth dividend from this improvement fell short of expectations, and a policy agenda focused on stability turned out to be associated with a multiplicity of financial crises. This article examines the contents and implementation of the macroeconomic reform agenda of the 1990s. It reviews the progress achieved through fiscal, monetary, and exchange rate policies across the developing world and the effectiveness of the changing policy framework in promoting stability and growth. The main lesson is that more often than not slow growth and frequent crises resulted from shortcomings in the reform agenda of the 1990s. These concern limitations in the depth and scope of the reform agenda, its lack of attention to macroeconomic vulnerabilities, and its inadequate attention to complementary reforms outside the macroeconomic sphere.

Author : Joseph Stiglitz,José Antonio Ocampo,Shari Spiegel,Ricardo Ffrench-Davis,Deepak Nayyar
Publisher : OUP Oxford
Page : 352 pages
File Size : 53,7 Mb
Release : 2006-08-31
Category : Business & Economics
ISBN : 9780191647796

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Stability with Growth by Joseph Stiglitz,José Antonio Ocampo,Shari Spiegel,Ricardo Ffrench-Davis,Deepak Nayyar Pdf

There is growing dissatisfaction with the economic policies advocated by the IMF and other international financial institutions - policies that have often resulted in stagnating growth, crises, and recessions for client countries. This book presents an alternative to "Washington Consensus" neo-liberal economic policies by showing that both macro-economic and liberalization policy must be sensitive to the particular circumstances of developing countries. One-size-fits-all policy prescriptions are likely to fail given the vast differences between countries. This book discusses how alternative approaches to economic policy can better serve developing countries both in ordinary times and in times of crisis.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 55 pages
File Size : 40,5 Mb
Release : 2014-07-03
Category : Business & Economics
ISBN : 9781498343688

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Sustaining Long-Run Growth and Macroeconomic Stability in Low-Income Countries—The Role of Structural Transformation and Diversification by International Monetary Fund Pdf

Diversification and structural transformation play important roles in influencing the macroeconomic performance of low-income countries (LICs). Increases in income per capita at early stages of development are typically accompanied by a transformation in a country’s production and export structure. This can include diversification into new products and trading partners as well as increases in the quality of existing products.

Author : Mr.Brian Ames
Publisher : International Monetary Fund
Page : 76 pages
File Size : 50,5 Mb
Release : 2001-08-20
Category : Business & Economics
ISBN : STANFORD:36105110995847

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Macroeconomic Policy and Poverty Reduction by Mr.Brian Ames Pdf

This pamphlet excerpts a chapter on macroeconomic policy from the Poverty Reduction Policy Source book, a guide prepared by the World Bank and IMF to assist countries in developing and strengthening their poverty reduction strategies. It probes the relationship between macroeconomic policy matters, such as growth and inflation, and the fight against poverty, and explains how sound monetary and fiscal policies-key tools of the macroeconomist-can help to spur growth and ease poverty.

Author : Pierre-Richard Agénor,Peter J. Montiel
Publisher : Princeton University Press
Page : 792 pages
File Size : 52,9 Mb
Release : 2015-06-23
Category : Business & Economics
ISBN : 9781400866267

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Development Macroeconomics by Pierre-Richard Agénor,Peter J. Montiel Pdf

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

Author : Akhtar Hossain,Anis Chowdhury
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 43,5 Mb
Release : 1998
Category : Developing countries
ISBN : 1840644532

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Open-economy Macroeconomics for Developing Countries by Akhtar Hossain,Anis Chowdhury Pdf

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

Author : Mr.Rabah Arezki,Mr.Kazim Kazimov,Mr.Kirk Hamilton
Publisher : International Monetary Fund
Page : 27 pages
File Size : 48,8 Mb
Release : 2011-06-01
Category : Business & Economics
ISBN : 9781455266432

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Resource Windfalls, Macroeconomic Stability and Growth by Mr.Rabah Arezki,Mr.Kazim Kazimov,Mr.Kirk Hamilton Pdf

We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government spending in commodity-exporting countries has been procyclical. Second, we find that resource windfalls initially crowd out non-resource GDP which then increases as a result of the fiscal expansion. Third, we find that in the long run resource windfalls have negative effects on non-resource sector GDP growth. Yet, the effects turn out to be statistically insignificant when controlling for government spending. Both the effects of resource windfalls on macroeconomic stability and economic growth are moderated by the quality of political institutions.

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund. Monetary and Capital Markets Department,International Monetary Fund. Research Dept.,International Monetary Fund. Asia and Pacific Dept,International Monetary Fund. Western Hemisphere Dept.,World Bank
Publisher : International Monetary Fund
Page : 56 pages
File Size : 40,9 Mb
Release : 2012-08-24
Category : Business & Economics
ISBN : 9781498339995

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Macroeconomic Policy Frameworks for Resource-Rich Developing Countries by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund. Monetary and Capital Markets Department,International Monetary Fund. Research Dept.,International Monetary Fund. Asia and Pacific Dept,International Monetary Fund. Western Hemisphere Dept.,World Bank Pdf

This paper aims to widen the prism through which Fund policy analysis is conducted for resource-rich developing countries (RRDCs). While all resource-rich economies face resource revenue exhaustibility and volatility, RRDCs face additional challenges, including lack of access to international capital markets and domestic capital scarcity. Resource exhaustibility gives rise to inter-temporal decisions of how much of the resource wealth to consume and how much to save, and revenue volatility calls for appropriate fiscal rules and precautionary savings. Under certain conditions, it would be optimal for a significant share of a RRDC’s savings to be in domestic real assets (e.g., investment in domestic infrastructure), though absorptive capacity constraints need to be tackled to promote efficient spending and short-run policies are needed to preserve macroeconomic stability. The objective of this paper is to develop new macro-fiscal frameworks and policy analysis tools for RRDCs that could enhance Fund policy advice.

Author : Peter Montiel,Luis Serv??n
Publisher : Unknown
Page : 128 pages
File Size : 52,9 Mb
Release : 2013
Category : Electronic
ISBN : OCLC:931679144

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Macroeconomic Stability in Developing Countries by Peter Montiel,Luis Serv??n Pdf

In the 1990s macroeconomic policies improved in a majority of developing countries, but the growth dividend from such improvement fell short of expectations, and a policy agenda focused on stability turned out to be associated with a multiplicity of financial crises. The authors take a retrospective look at the content and implementation of the macroeconomic reform agenda of the 1990s. They review the progress achieved with fiscal, monetary, and exchange rate policies across the developing world, and the effectiveness of the changing policy framework in promoting stability and growth. The main lesson is that slow growth and frequent crises resulted, more often than not, from shortcomings in the reform agenda of the 1990s. These shortcomings essentially concern the depth and breadth of the macroeconomic reform agenda, its attention to macroeconomic vulnerabilities, and the complementary reforms outside the macroeconomic sphere.