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There is growing dissatisfaction with the economic policies advocated by many international financial institutions. This book presents an alternative to "Washington Consensus" neo-liberal economic policies by showing that both macro-economic and liberalization policy must be sensitive to the particular circumstances of developing countries.
1. Introducing the key questions
3. Three perspectives on policy
4. Why is macroeconomics different in developing countries?
5. Policy instruments from three perspectives: monetary and fiscal policy
6. Further implications of alternative policy perspectives in open economies
7. Policy frameworks
8. Formal approaches
Capital Markets Liberalization
9. Capital markets liberalization: the arguments for and against
10. Interventions in capital markets
11. Capital markets liberalization: summary and remaining debates
12. Stabilization, liberalization, and growth