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Stability with growth
macroeconomics, liberalization, and development
Verfasserangabe: Joseph E. Stiglitz ...
Jahr: 2006
Verlag: Oxford [u.a.], Oxford Univ. Press
Mediengruppe: Buch
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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. One-size-fits-all policy prescriptions are likely to fail given the vast differences between countries. This book 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. (Klappentext). / The authors discuss the current debates on macroeconomics, capital market liberalization, and development, and develop a new framework within which one can assess alternative policies. They explain their belief that the Washington consensus (Washington Konsensus) has advocated for narrow goals for development (with a focus on price stability), prescribed too few policy instruments (emphasizing monetary and fiscal policies), and places unwarranted faith in the role of markets. The new framework focuses on real stability and long-term sustainable and equitable growth, offers a variety of non-standard ways to stabilize the economy and promote growth, and accepts that market imperfections necessitate government interventions. Policy-makers have pursued stabilization goals with little concern for growth consequences, while trying to increase growth through structural reforms focused on improving economic efficiency. Moreover, structural policies, such as capital market liberalization, have had major consequences for economic stability. This book challenge these policies by arguing that stabilization policy has important consequences for long-term growth and has often been implemented with adverse consequences. The first part of the book introduces the key questions and looks at the objectives of economic policy from different perspectives. The second part examines the central issues of macroeconomics, presenting an analysis of economic models and policy perspectives on stabilization from conservative, Keynesian, and heterodox perspectives. The third part presents a similar analysis for capital market liberalization. (www.wikipedia.org)
/ AUS DEM INHALT: / / / Part IOverview
1Introducing the Key Questions
Part IIMacroeconomics
3Three Perspectives on Policy
4Is Macroeconomics Different in Developing Countries?
5Policy Instruments from Three Perspectives: Fiscal and
Monetary Policy
6Open Economy Complications
7Exchange Rate Management and Micro Tools for
8Policy Frameworks
9Formal Approaches
Part IIICapital Market Liberalization (CML)
10Capital Market Liberalization: The Arguments For and Against 167
11A Formal Approach: Capital Market Failures 188
12Interventions in Capital Markets 197
13Capital Market Liberalization: Summary and
Remaining Debates 220
14Stabilization, Liberalization, and Growth
VerfasserInnenangabe: Joseph E. Stiglitz ...
Jahr: 2006
Verlag: Oxford [u.a.], Oxford Univ. Press
Systematik: GW.S, FS.E
Interessenkreis: Sprache: Englisch
ISBN: 978-0-19-928814-4
2. ISBN: 978-0-19-928813-7
Beschreibung: 1. publ., XI, 339 S. : graph. Darst.
Sprache: Englisch
Mediengruppe: Buch