Development Macroeconomics

By Pierre-Richard Agénor and Peter J. Montiel

Book Overview

Addressing an audience of policy-oriented economists and theorists, graduate students and advanced undergraduates, this book is the first to synthesize the burgeoning work done in the past fifteen years in the macroeconomics of developing countries, which has now become an important subdiscipline of macroeconomics. In the past general macroeconomic perspectives on developing countries were divided into the ideologically charged categories of "monetarist" or "structuralist," but in recent years a vast literature has developed treating developing country macro problems with the analytical tools of modern macroeconomics. Presenting this new analysis and empirical work in a unified way is the task accomplished by Pierre-Richard Ag nor and Peter Montiel's coherent and rigorous treatment. Ag nor and Montiel include extensive empirical material describing the characteristics of the developing-country macroeconomic context. They explore how the analytical tools of modern macroeconomics can be adapted to accommodate such characteristics and use the resulting models to analyze a diverse set of macroeconomic issues that have confronted developing countries in recent years.

• Format: Hardcover
• Language: English
• ISBN: 0691034133
• ISBN13: 9780691034133
• Release Date: December 1995
• Publisher: Princeton University Press
• Length: 648 Pages
• Weight: 2.50 lbs.
• Dimensions: 1.7" x 7.8" x 10.0"

Customer Reviews

Best Macroeconomics tex focusing developing economies

It is undoubtedly the best book for graduate level macroeconomics relevant for developing and transitional economies. Most of the other books available in the market does not address specific macro issues related to developing countries, and this book takes care of that. I am giving the chapters listing below {as you can not look inside the book here} which gives a fair idea of the scope and coverage of the book. 1. Scope of Development Macroeconomics Part I: Macroeconomic Accounts, Market Structures, and Behavioural Functions 2. Aggregate Accounts, Production and Market Structure 3. Behavioural Functions Part II: Financial Policies 4. The Government Budget and Fiscal Management 5. Macroeconomic Effects of Fiscal Policy 6. Financial Markets and the Transmission Process of Monetary Policy 7. A Framework for Monetary Policy Analysis 8. Inflation Targeting and Interest Rate Rules 9. Choosing an Exchange Rate Regime I: Credibility, Flexibility and Welfare 10.Choosing an Exchange Rate Regime II: The Role of Shocks, Contractionary Effects, and Moral Hazard Part III: Inflation Stabilization 11.An Overview of Stabilization Programs 12.Inflation and Short Run Dynamics 13.Analytical Issues in Disinflation Programs Part IV: Capital Flows and Financial Criese 14.Financial Integration, Capital Flows and Sudden Stops 15.Exchange Rate Crises 16.Banking Crises and Twin Crises Part V: Growth, Structural Reforms, and Political Economy 17.Macroeconomic Policies and Growth 18.Trade Liberalization, Financial Sector Reforms and Sequencing 19.The Political Economy of Adjustment It is a must for every budding macroeconomist. There is an urgent need for a cheaper paperback edition so that the book can be made more affordable for students from developing countries.

quite good!!!

This is a very original work on the macroeconomics of emerging markets. It is very useful if you are interested in working in the field of international finance and macroeconomics. It deals in a formal manner with financial and real problems the less developed nations have to cope with. This is its best characteristic. For you to grasp the whole content, your math and economic theory background must be solid. A senior undergraduate with good skills should be capable of understanding this wonderful book. I think a new edition is on the go. If you find yourself curious about this topic, in adittion of Foundations of International Macroeconomics by Obtsfeld and Rogoff, be aware that prof. Carlos Vegh, the superb UCLA and IMF economist, is in the process of writing a graduate text on Open Economy Macroeconomics in Developing Countries (actually this is its name) http://www.econ.ucla.edu/cvegh/book/book.htm

An illuminating offer for macroeconomics scholars

This book by Agenor and Montiel has succeeded to a large extent in their objective of integrating macroeconomic theory with the issues of the less developed countries. Proves to be an useful book which could be a decent alternative to the various textbooks in macroeconomics which are divorced of the diverse features of the less developed countries. Indeed an asset for the subject and the researchers. Worth possessing. But the cost is a little bit unaffordable for those in the developing world