367pp + xiii prelims. Black cloth covered boards with gilt lettering on spine. No inscriptions. Tightly bound. Light green end papers. Appears unread. Green dust jacket with white lettering. Slight shelf wear and finger marks to dust jacket.

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Bibliographic Details

Title: Controlled Open Economies : A Neoclassical Approach to Structuralism
Publisher: Oxford University Press, Oxford
Publication Date: 1990
Language: English
ISBN 10: 0198286201
ISBN 13: 9780198286202
Binding: Hardcover
Edition: 1st Edition
Condition: Fine
Dust Jacket Condition: Very Good

About this title

Synopsis

This book develops macroeconomic theory for small open economies characterized by the sort of controls which make much of existing neoclassical economics inapplicable to developing countries. It distinguishes between sustainable combinations of policies and incompatible control regimes. The authors analyze the changes needed to maintain compatibility and the consequences of failing to do so. They also consider optimal investments in response to a temporary shock. The second half of the book contains an analysis of two temporary trade shocks in Africa, in both compatible and incompatible control regimes, demonstrating the applicability of the theory. It shows that in a compatible regime, the regime and the fiscal response to changes in revenue may make the reaction to a shock grossly inefficient. Under incompatibility, an economy exposed to a negative shock may go into steep decline, while responses to conventional policies may be reversed.

About the Author

David Bevan is at St John's College, Oxford. Paul Collier is Professor of Economics, University of Oxford, and Director of the Centre for the Study of African Economies. Jan Willem Gunning is Professor of Economics, Free University, Amsterdam.

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