Open-Economy Macroeconomics for Developing Countries - Couverture rigide

Hossain, Akhand A.; Chowdhury, Anis

Couverture rigide

ISBN 10 : 1858982278 ISBN 13 : 9781858982274

Editeur : Edward Elgar Publishing Ltd, 1998

Synopsis

Open-Economy Macroeconomics for Developing Countries focuses on fiscal, monetary and exchange rate issues of importance to less developed economies. The book argues that the dichotomy between the short-term macroeconomic stabilization goal and the long-term economic growth objective commonly found in developing countries' policy framework is inappropriate. The authors report empirical evidence to support the proposition that macroeconomic stability is a pre-requisite for sustained economic growth and the root of macroeconomic instability in developing countries lies in the government budget deficits.

The book discusses the stabilization tools available to deal with capital flows, supply shocks and the effects of financial deregulation. It opens with a discussion of macroeconomic policy problems for open developing economies and an historical overview of the international institutions such as IMF, GATT and UNCTAD. The authors then provide a comprehensive review of macroeconomic models which are popularly used to analyse policy dilemmas related to internal and external balances of open economies.

Having reviewed the institutional and theoretical framework, the authors assess the macroeconomic impact of financial deregulation, capital flows and foreign investment. They address the debt crisis, financial instability, capital flight, currency substitution and exchange rate arrangements. The authors also consider more general issues such as the political economy of macroeconomic management and the institutional framework that may enhance credibility and effectiveness of macroeconomic policy. In conclusion, they stress that the openness of an economy itself acts as a constraint on macroeconomic mismanagement and hence may enhance economic growth.

This comprehensive book will be an important addition to the literature, and will be of use to advanced undergraduates and graduates of development economics, development studies and financial and monetary economics.

A propos du livre

À propos de l?auteur

Akhand Akhtar Hossain, Associate Professor of Economics, The University of Newcastle, Australia and Anis Chowdhury, formerly Professor of Economics, School of Economics and Finance, University of Western Sydney, Australia and Managing Editor, Journal of the Asia Pacific Economy

Détails de l'édition

• Éditeur: Edward Elgar Publishing Ltd
• Date d'édition: 1998
• Langue: anglais
• ISBN 10: 1858982278
• ISBN 13: 9781858982274
• Reliure: Relié
• Nombre de pages: 264
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible