This book provides a systematic and coherent framework for understanding the interactions between the micro and macro dimensions of economic adjustment policies; that is, it explores short-run macroeconomic management and structural adjustment policies aimed at promoting economic growth. It emphasizes the importance of structural microeconomic characteristics in the transmission of policy shocks and the response of the economy to adjustment policies. It has particular relevance to the economics of developing countries. The book is directed to economists interested in an overview of the economics of reform; economists in international organizations, such as the UN, the IMF, and the World Bank, dealing with development; and economists in developing countries. It is also a text for advanced undergraduate students pursuing a degree in economic policy and management and students in political science and public policy.The immediate impact of this shock, as can be inferred from Equation (7), is to raise the demand for foreign bonds and reduce net capital inflows. At the initial ... To eliminate excess demand for nontraded goods and restore market equilibrium requires an appreciation of the real exchange rate. Although the ... Graphically, as shown in Figure 7.7, the rise in i* entails a rightward shift of the BB curve to Ba#39;B a#39;.
|Title||:||The Economics of Adjustment and Growth|
|Publisher||:||La Editorial, UPR - 2004|