Description
Book SynopsisThis insightful book offers a comprehensive analysis of how macroeconomics can steer development and reduce poverty. It untangles how developing countries can apply effective economic policies in spite of the challenges they face.
With an aim to design a macroeconomic strategy which would provide a stable and long-term growth plan, Basil Oberholzer explores the multiple constraints which prevent developing countries from reducing poverty. The author reveals how countries' scope of action is strongly limited by international economic dynamics, including current account imbalances, capital flight, foreign debt accumulation, and exchange rate fluctuations. His detailed examination of how international payments take place within the current monetary structure also illuminates fundamental flaws that are harmful for developing countries. Applying a newly developed monetary macroeconomic model, Oberholzer suggests a reform of countries' international payments as a solution to these key problems.
This book will prove to be a valuable resource for students and scholars of development economics and macroeconomics. Its analysis of how appropriate macroeconomic strategies can be established, pragmatic policy recommendations, and explanation of critical macroeconomic constraints will also be beneficial for policy-makers in progressive governments.
Trade Review'This book provides an outstanding analysis explaining the major reasons of poverty and how to solve the latter in developing economies through relevant policy reforms. Oberholzer elaborates his analysis on macroeconomic grounds and offers a variety of tools that each developing country may implement successfully, independently of what other countries or institutions will do in this regard. The reader will be impressed by the depth, clarity and soundness of the author's investigation. Scholars and policy makers in development economics will find this book extremely useful.' -- Sergio Rossi, University of Fribourg, Switzerland
'This is a fresh, clear and very relevant look at the macroeconomic issues and constraints faced by open developing economies. The proposal for international monetary reform that could address some of these problems is intriguing and will make you think.' -- Jayati Ghosh, Jawaharlal Nehru University, India
Table of ContentsContents: Introduction 1. Several Central Debates in Development Macroeconomics 2. Key Principles of Macroeconomics 3. Giving Space to the Public Sector 4. The Domestic Economy and the Rest of the World 5. A Reform to Remove the External Constraint 6. Macroeconomic Strategies to Guide the Economy Conclusion References Index
