North-South Linkages and International Macroeconomic Policy

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Recent years have witnessed a substantial development of global macroeconomic modelling in which researchers have applied techniques developed to consider the industrialized countries to analyse North-South interactions in the world economy. This collection of papers uses these advances to examine the implications for the South of macroeconomic developments in the North, to examine international policy questions in a genuinely global context, and to consider the design of policy packages for the Third World (aid versus trade, growth-oriented adjustment) in an empirical context.
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Product Details

  • ISBN-13: 9780521462341
  • Publisher: Cambridge University Press
  • Publication date: 9/21/1995
  • Pages: 429
  • Product dimensions: 5.98 (w) x 8.98 (h) x 1.14 (d)

Table of Contents

List of figures
List of tables
List of conference participants
1 North-South linkages and international macroeconomic policy: an overview 1
2 NIE export performance revisited: the estimation of export demand elasticities, and the role of product differentiation and growth 9
3 Export growth and the terms of trade: the case of the curious elasticities 29
4 Economic activity and commodity prices: theory and evidence 49
5 Convergence and growth linkages between North and South 77
6 Analysing external adjustment in developing countries: a macroeconomic framework 109
7 Dynamic response to external shocks in Classical and Keynesian economies 143
8 Macroeconomic effects on developing countries of shocks in the OECD: evidence from multicountry models 181
9 Macroeconomic linkages between the OECD and the Asia-Pacific regions 235
10 MULTIMOD simulations of the effects on developing countries of decreasing military spending 282
11 Effects of a rise in G-7 real interest rates on developing countries 313
12 Quantifying North-South interdependencies with MCM simulations 333
13 The consequences of US fiscal actions in a global model with alternative assumptions about the exchange regime in developing countries 357
Index 399
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