Stability with Growth: Macroeconomics, Liberalization and Development

Stability with Growth: Macroeconomics, Liberalization and Development

by Joseph E. Stiglitz, Jose Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis
     
 

There is growing dissatisfaction with the economic policies advocated by the IMF and other international financial institutions-policies that have often resulted in stagnating growth, crises, and recessions for client countries. This book presents an alternative to 'Washington Consensus' neo-liberal economic policies by showing that both macroeconomic and… See more details below

Overview

There is growing dissatisfaction with the economic policies advocated by the IMF and other international financial institutions-policies that have often resulted in stagnating growth, crises, and recessions for client countries. This book presents an alternative to 'Washington Consensus' neo-liberal economic policies by showing that both macroeconomic and liberalization policy must be sensitive to the particular circumstances of developing countries. This book presents an alternative framework and discusses how alternative approaches to economic policy can better serve developing countries both in ordinary times and in times of crisis.

Written by the leading names in the field, this book introduces the issues and the objectives of macroeconomic policy from various perspectives. It also presents an analysis of macroeconomic models and policy perspectives on stabilization and capital markets liberalization from conservative, Keynesian, and heterodox perspectives.

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Product Details

ISBN-13:
9780199288137
Publisher:
Oxford University Press, USA
Publication date:
07/31/2006
Series:
Initiative for Policy Dialogue Series C Series
Pages:
352
Product dimensions:
9.10(w) x 6.00(h) x 1.00(d)

Related Subjects

Table of Contents

Overview
Introducing the Key Questions     3
Objectives     11
Macroeconomics
Three Perspectives on Policy     37
Is Macroeconomics Different in Developing Countries?     52
Policy Instruments from Three Perspectives: Fiscal and Monetary Policy     63
Open Economy Complications     87
Exchange Rate Management and Micro Tools for Macro-Management     105
Policy Frameworks     130
Formal Approaches     150
Capital Market Liberalization (CML)
Capital Market Liberalization: The Arguments For and Against     167
A Formal Approach: Capital Market Failures     188
Interventions in Capital Markets     197
Capital Market Liberalization: Summary and Remaining Debates     220
Conclusion
Stabilization, Liberalization, and Growth     233
Notes     247
References     287
Index     311

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