Development Macroeconomics - Hardcover

Agénor, Pierre-Richard; Montiel, Peter J.

Hardcover

ISBN 10: 0691006776 ISBN 13: 9780691006772

Publisher: Princeton University Press, 1999

Synopsis

Development Macroeconomics was hailed on its publication in 1996 for providing a clear, rigorous, and long-needed synthesis of recent work in the field. This revised edition brings that achievement up to date. Addressing an audience of policy-oriented economists and theorists, graduate students, and advanced undergraduates, Pierre-Richard Agénor and Peter Montiel review and assess the burgeoning research done in the past two decades, paying special attention in this new edition to issues that have recently gained in importance among developing countries, such as the interaction between macroeconomic policies and long-term growth, the political economy of macroeconomic reform, the management of capital inflows, and currency crises.

As Agénor and Montiel show, development macroeconomics has become a vital subdiscipline of macroeconomics. In the past, general macroeconomic perspectives on developing countries were divided into the ideologically charged categories of "monetarist" or "structuralist," but a vast literature has since developed that treats the problems of developing countries with the analytical tools of modern macroeconomics. The authors' coherent and rigorous treatment presents this new analysis and empirical work in an unusually lucid and unified way. It includes extensive empirical material describing the characteristics of the developing-country macroeconomic context. It explores how the analytical tools of modern macroeconomics can be adapted to accommodate such characteristics, and it uses the resulting models to analyze a diverse set of macroeconomic issues that developing countries have confronted in recent years. This is a crucial book for anyone wishing to understand this rapidly changing field.

About this title

From the Back Cover:

"For students and teachers of money and finance in economic development, the revised edition is even more comprehensive and inclusive. While maintaining high standards of analytical rigor, the authors model a surprising wide range of tough macroeconomic problems--including the more recent Mexican and East Asian currency crises ... an invaluable treatise."--Ronald McKinnon, Stanford University

"As emerging markets become an integral part of the world economic landscape, no serious macroeconomist can afford the luxury of ignoring the valuable lessons and insights that can be drawn from many years of research in development macroeconomics. A veritable tour de force, Agenor and Montiel's book fills a large void by providing a timely, comprehensive, and lucid synthesis of this burgeoning field. A must-read for anyone interested in going beyond the cliches of the day and grasping the fundamental issues in development macroeconomics."--Carlos Vegh, University of California, Los Angeles

"The first edition of Agenor and Montiel's book was an unprecedented resource for teaching and research on the macroeconomic problems of developing countries. This new edition, with its enhanced coverage of recent questions surrounding capital inflows, crises, and exchange rate strategies, is even more essential. Every serious student of the international economy will want to have this comprehensive treatise on his or her shelf."--Maurice Obstfeld, University of California, Berkeley

About the Author:

Pierre-Richard Agénor is Lead Economist and Director of the Macroeconomic and Financial Management Program of the World Bank Institute. Peter J. Montiel is Professor of Economics and Chair of the Center for Development Economics at Williams College. They both have written extensively in leading professional journals on stabilization and adjustment issues in developing countries.

About this edition

• Publisher: Princeton University Press
• Publication date: 1999
• ISBN 10: 0691006776
• ISBN 13: 9780691006772
• Binding: Hardcover
• Edition number: 2
• Number of pages: 896