Reform, Recovery, and Growth: Latin America and the Middle East

by Rudiger Dornbusch, Sebastian Edwards

Overview

The debt crisis of 1982 caused serious economic disruptions in most developing countries. Reform, Recovery, and Growth explains why some of these countries have recovered from the debt crisis, while more than a decade later others continue to stagnate.

Among the questions addressed are: What are the requirements for a stabilization policy that reduces inflation in a reasonable amount of time at an acceptable cost? What are the effects of structural reforms, especially trade liberalization, deregulation, and privatization, on growth in the short and long runs? How do macroeconomic instability and adjustment policies affect income distribution and poverty? How does the specific design of structural adjustment efforts affect results?

In this companion to Macroeconomics of Populism in Latin America, the authors confirm that macroeconomic stability has a positive effect on income distribution. The volume presents case studies that describe in detail the stabilization experiences in Brazil, Israel, Argentina, and Bolivia, and also includes discussion of Chile, Mexico, Peru, and Turkey.

Product Details

ISBN-13:	9780226158457
Publisher:	University of Chicago Press
Publication date:	03/15/1995
Series:	National Bureau of Economic Research Project Report
Edition description:	1
Pages:	436
Product dimensions:	6.00(w) x 9.00(h) x 1.10(d)

About the Author

Rudiger Dornbusch is the Ford International Professor of Economics at the Massachusetts Institute of Technology. Sebastian Edwards is the Henry Ford II Professor of Business Economics, University of California at Los Angeles. Both are research associates of the National Bureau of Economic Research.



Sebastian Edwards is the Henry Ford II Professor of International Economics in the Anderson Graduate School of Management at the University of California, Los Angeles.

Table of Contents

Preface
Introduction
Rudiger Dornbusch, Sebastian Edwards.
1: Trade Policy, Exchange Rates, and Growth
Sebastian Edwards
2: Are Economic Crises Necessary for Trade Liberalization and Fiscal
Reform? The Mexican Experience
Aaron Tornell
3: Macroeconomic Instability and Social Progress
Mauricio Cardenas, Miguel Urrutia.
4: Continuity, Change, and the Political Economy of Transition in Chile
Raul Laban, Felipe Larrain.
5: Inflation and Unemployment as Determinants of Inequality in Brazil: The
1980s
Eliana Cardoso, Ricardo Paes de Barros, Andre Urani.
6: Israel's Stabilization: Some Important Policy Lessons
Gil Bufman, Leonardo Leiderman.
7: Progress Report on Argentina
Rudiger Dornbusch
8: Bolivia: From Stabilization to What?
Federico A. Sturzenegger
9: Tax Lore for Budding Reformers
Arnold C. Harberger
10: Deregulation as a Source of Growth in Mexico
Arturo M. Fernandez
11: Partial Adjustment and Growth in the 1980s in Turkey
Anne O. Krueger
12: Stopping Three Big Inflations: Argentina, Brazil, and Peru
Miguel A. Kiguel, Nissan Liviatan.
Contributors
Author Index
Subject Index

Editorial Reviews

In a continuation of the research published in Macroeconomics of Populism in Latin America (U. of Chicago Press, 1991), this volume seeks to explain why some developing countries have succeeded in engineering a recovery from the debt crisis of 1982, while others continue to stagnate a decade later. Included in the volume are case studies that describe in detail the stabilization experiences in Brazil, Israel, Argentina, and Bolivia, as well as discussions of Chile, Mexico, Peru, and Turkey. Earlier versions of the 12 papers were presented at a conference held at the Inter-American Development Bank in December 1992. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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