"Since it was first published in 1995, Development Macroeconomics has remained the definitive textbook on the macroeconomics of developing countries. Now, in this fully revised and updated third edition, Pierre-Richard Agenor and Peter Montiel cover the latest advances in this rapidly changing field, making this the most up-to-date, authoritative, and comprehensive book available on the macroeconomic issues and challenges developing nations confront today." "Agenor and Montiel provide completely new and expanded coverage of fiscal discipline, monetary policy regimes, currency and banking crises, monetary unions, management of capital flows, the choice of an exchange-rate regime, public capital and growth, the political economy of stabilization and adjustment and much more. They review attempts that have been made to adapt standard macroeconomic analysis to conditions in developing economies, and they use a variety of analytical models to address the macroeconomic policy issues that most concern these countries. Agenor and Montiel systematically examine empirical evidence on behavioral assumptions and on the effects of macroeconomic policies in developing nations. They also provide extensive references to literature in the field."--Jacket.
Includes bibliographical references (p. [699]-750) and indexes.
Processing Action (note)
committed to retain
Contents
Scope of development macroeconomics -- Macroeconomic accounts, market structure, and behavioral functions -- Aggregate accounts, production, and market structure -- Behavioral functions -- Financial policies -- The government budget and fiscal management -- Macroeconomic effects of fiscal policy -- Financial markets and the transmission process of monetary policy -- A framework for monetary policy analysis -- Inflation targeting and interest rate rules -- Choosing an exchange-rate regime I: Credibility, flexibility, and welfare -- Choosing an exchange-rate regime II: The role of shocks, contractionary effects, and moral hazard -- Inflation stabilization -- An overview of stabilization programs -- Inflation and short-run dynamics -- Analytical issues in disinflation programs -- Capital flows and financial crises -- Financial integration, capital inflows, and sudden stops -- Exchange-rate crises -- Banking crises and twin crises -- Growth, structural reforms, and political economy -- Macroeconomic policies and growth -- Trade liberalization, financial-sector reforms, and sequencing -- The political economy of adjustment.