Buch, Englisch, 456 Seiten, Format (B × H): 177 mm x 253 mm, Gewicht: 1029 g
Buch, Englisch, 456 Seiten, Format (B × H): 177 mm x 253 mm, Gewicht: 1029 g
ISBN: 978-0-521-78060-5
Verlag: Cambridge University Press
This book is a rigorous, yet nonmathematical analysis of key macroeconomic issues faced by emerging economies. The first part develops an analytical framework that can be used as a workhorse model to study short-run macroeconomic issues of stabilization and adjustment in such economies, comparable to the IS-LM framework widely used in intermediate-level macroeconomics textbooks for industrial countries. The rest of the book considers fiscal issues, financial sector issues, and issues concerning exchange rate regimes and policies. In the fiscal area, the focus is on the formulation of intertemporal policies, i.e. fiscal sustainability, seigniorage, and the roles of central bank independence and privatization of public enterprises in achieving fiscal credibility. The analysis of the financial sector examines its role in promoting welfare and growth. Finally, the book explores recent developments in the theory of appropriate exchange rate regimes and management, and provides an overview of currency crises.
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Weitere Infos & Material
Part I. Overview: 1. Macroeconomics and development; Part II. A Benchmark Macroeconomic Model for an Emerging Economy: 2. Equilibrium in the domestic labor and goods markets; 3. Equilibrium in the financial markets; 4. Short-run macroeconomic equilibrium; 5. Medium-term macroeconomic equilibrium; Part III. Public Finance and Macroeconomic Performance: 6. The intertemporal budget constraint of the public sector; 7. Consequences of insolvency I: high inflation; 8. Consequences of insolvency II: public sector debt and economic growth; 9. Measures for achieving fiscal credibility I: central bank independence; 10. Measures for achieving fiscal credibility II: privatization; Part IV. The Financial Sector and Macroeconomic Performance: 11. Finance, welfare, and growth; 12. Financial repression; 13. Financial reform, public policy, and financial crises; 14. Financial openness and the sequencing of financial reform; 15. Coping with capital inflows; Part V. Exchange Rate Management: 16. Equilibrium real exchange rates: 17. Exchange rate regimes; 18. Managing an officially-determined rate; 19. Banking crises and exchange rate crises; 20. Domestic macroeconomic management in emerging economies: lessons from the crises of the nineties.
