The Macroeconomics of Developing Countries
An Intermediate Textbook
1st Edition
Published on 26. March 2020
384 pages
978-0-19-259867-7 (ISBN)
Description
The Macroeconomics of Developing Countries provides a comprehensive discussion of the exogenous factors and macroeconomic policies that affect the business cycle, long term growth, and distribution of income in developing countries. It examines countries dependent on natural resources and affected by supply rigidities in agriculture. They also feature dualistic markets, a large informal sector, rapid population growth, a vulnerable export sector, and chronic dependence on a volatile global finance. The Macroeconomics of Developing Countries uses these examples to analyse the impact of stablization and adjustment politices on growth, inequality, and poverty.
Despite the launch of the Sustainable Development Goals there is little consensus on how macroeconomic policies can be consistent with these objectives. The Macroeconomics of Developing Countries demonstrates that a critical application of standard models to developing countries can generate erroneous results and induce the adoption of incorrect policy. In order to address this, it discusses the key structural differences between advanced and developing countries in order to justify the construction of alternative models.
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03/2020
Oxford University Press
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Person
Giovanni Andrea Cornia is an Honorary Professor of Economics at the University of Florence, Italy. He was previously the Director of UNU-WIDER and a Chief Economist at UNICEF. He has also held positions in other UN agencies and the private sector. Between 2010 and 2018 he served on the UN Committee for Development Policies of the United Nations' General Assembly, and in 2012 was elected as the first President of the Italian Development Economists Association. He has co-authored, edited or co-edited eighteen books on development and transition economics, including UNICEF's influential study Adjustment with a Human Face (OUP, 1987). He has published 45 articles in scholarly journals and 140 book chapters or working papers on development macroeconomics, inequality, poverty, political economy, child wellbeing, and human development
Content
- Part I: Context and instruments of standard macroeconomics: An overview
- 1: Genesis, context, focus, and accounting relations of standard macroeconomics
- 2: Long-term supply-side models of potential growth
- 3: Short-term demand-side models of determination of income level
- Part II: Economic structure and long-term growth in developing countries
- 4: Genesis of macroeconomics and national accounts in developing countries
- 5: Long term growth and inequality in economies relying on land and natural resources
- 6: Growth in a dualistic economy with a rigid food supply
- 7: Rapid population growth and long-term development
- 8: Long-term growth in economies with a large informal sector
- 9: Balance of payments constrained growth models
- 10: External financing, gap models of growth, and the macroeconomics of aid
- 11: Institutions, investments and growth in developing countries
- 12: How do neoclassical growth models behave in low-income countries?
- Part III: Demand management and short-term growth: IS-LM and AS-AD in developing countries
- 13: Short-term behavioral equations for developing countries
- 14: IS-LM and AS-AD with behavioral equations for the developing countries
- 15: Modelling the open economy, devaluation and the exchange rate in developing countries
- Part IV: Specific macroeconomic problems faced by developing countries
- 16: Macroeconomic stabilization
- 17: Internal and external liberalization, inequality, growth, and poverty
- 18: Macroeconomic policies for growth and poverty reduction
