The Economics of Adjustment and GrowthAcademic Press, 2000 - 731 pages The Economics of Adjustment and Growth moves the study of macroeconomics for developing economies away from the traditional static approach and toward a more dynamic, growth-oriented framework. Pierre-Richard Agénor presents an analysis of policy issues involved in designing economic adjustment programs in developing countries and structural reform policies aimed at fostering economic growth. Emphasizing the need to take into account the structural features of these countries, his work dwells on the considerable body of analytical research and empirical evidence of the past two decades in academic circles and international organizations. It provides cutting-edge analysis of many current real-world issues, such as financial crises and the role of trade integration in fostering economic growth. Overall the book offers an impressive overview of the macroeconomic and structural adjustment issues facing developing economies today. |
Contents
Introduction and Overview | 1 |
Fiscal Deficits Public Debt and the Current Account | 80 |
Sustainability and the Solvency Constraint | 108 |
Summary | 114 |
Exchange Rate Regimes | 121 |
Policy TradeOffs and Exchange Rate Credibility | 135 |
Inflation and Disinflation | 162 |
Causes and Policy Responses | 204 |
Summary | 415 |
The Dynamics of Capital and Output | 425 |
Population Savings and SteadyState Output | 432 |
Model Predictions and Empirical Facts | 438 |
Knowledge Human Capital and Endogenous Growth | 446 |
Fiscal and Financial Sector Reforms | 554 |
Adjustment and External Debt in LowIncome Countries | 590 |
Sequencing Gradualism and the Political Economy | 620 |
Currency Crises and Financial Volatility | 240 |
Aggregate Accounts Budget Constraints | 302 |
National Income Identities and Budget Constraints | 309 |
An Intertemporal Framework | 327 |
Summary | 334 |
Policy Tools for Macroeconomic Analysis | 336 |
Some Basic Facts | 398 |
The Informal Sector and The Urban Labor Market | 640 |
Informal Financial Markets | 658 |
Exchange Market Unification | 668 |
684 | |
719 | |
721 | |
Other editions - View all
The Economics of Adjustment and Growth: Second Edition Pierre-Richard Agénor No preview available - 2004 |
Common terms and phrases
adjustment Agénor agents aggregate assets assumed balance borrowing budget constraint capital inflows capital stock central bank changes Chile consumption cost Côte d'Ivoire credibility crises crisis currency current account curve debt deposits depreciation devaluation developing countries domestic credit economic effective labor endogenous Equation equilibrium exchange rate regime exogenous expected expenditure exports external factors Figure fiscal deficit fixed exchange rate flows foreign exchange function given growth rate implies important income increase indicated Indonesia inflation initial instance International Monetary Fund investment Latin America loans long-run lower macroeconomic Malaysia measures money supply nominal exchange rate nontraded official reserves output percent of GDP period pesos policymakers positive private sector production real exchange rate reduce reform relative price result revenue role saving rate seigniorage shocks short-term Solow-Swan model Source stabilization steady-state substitution suggests target Thailand trade U.S. dollar variables volatility wage workers World Bank yields