Macroeconomics for Developing CountriesPsychology Press, 2003 - 496 pages This comprehensively revised and updated edition develops the themes contained in the first edition. Students and teachers who are familiar with the book will notice that half of the chapters are entirely new, with the other half having changed significantly to take into account the changes that have occurred in the global economy since the turn of the millennium. With questions for discussion and excellent use of case studies, the book covers such themes as: *standard closed and open macroeconomic models *a full evaluation of the post-Washington consensus model *IMF stabilization programs and their effects on developing economies *the pressing problems of indebtedness *financial sector reforms in developing countries This informative, accessible and lucid textbook is the ideal accompaniment for students of development economics and it will prove popular with lecturers and academics alike. |
Contents
Macroeconomic problems of developing | 3 |
National accounts and the macroeconomy | 9 |
The basic ISLMAS model in the closed | 27 |
The process of money creation and | 75 |
Macroeconomic policy in an open economy | 93 |
Current account and asset demand approaches | 139 |
IMFtype macro models for developing | 185 |
POLICY DILEMMAS FACED | 263 |
Exchange rate issues in developing countries | 363 |
Financial market liberalisation and economic | 387 |
The international financial architecture | 419 |
A final word | 457 |
| 463 | |
Name index | 487 |
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Common terms and phrases
adjustment aggregate demand agricultural argued balance of payments banker bonds borrowing capital controls capital flight capital flows capital mobility cent central bank chapter costs crisis current account curve demand for money devaluation developing countries economic growth effects employment equation equilibrium exchange rate regime exogenous expected exports external balance factor Figure financial development fiscal deficit fiscal policy fixed exchange rates foreign exchange function Fund government expenditure growth rate Hence higher HIPC IMF programmes important increase inflows interest rate investment Journal Keynesian LDCs LeDCs liabilities LM schedule macroeconomic monetary base monetary policy money supply national income nominal output price level problem production rate of inflation rate of interest ratio real exchange rate real wage reduce reforms reserves revenue rise savings sector seignorage shift shock stabilisation stabilisation policy Suppose surplus sustainability terms of trade variables World Bank zero