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Author: Subrata Ghatak
Publisher:
ISBN: 9780230003330
Category : Monetary policy
Languages : en
Pages : 302
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Book Description
This book highlights the basic principles of monetary economics and their application to developing countries. Fully illustrated and written in an accessible style, it will be an attractive to students wanting to understand the economic aspects of development and those researching in the area The new edition includes four entirely new chapters, with material on financial crises, the debates surrounding inflation targeting, and examination of the role and future of financial institutions, such as the World Bank and the IMF.
Author: Subrata Ghatak
Publisher:
ISBN: 9780230003330
Category : Monetary policy
Languages : en
Pages : 302
Get Book Here
Book Description
This book highlights the basic principles of monetary economics and their application to developing countries. Fully illustrated and written in an accessible style, it will be an attractive to students wanting to understand the economic aspects of development and those researching in the area The new edition includes four entirely new chapters, with material on financial crises, the debates surrounding inflation targeting, and examination of the role and future of financial institutions, such as the World Bank and the IMF.
Author: Anis Chowdhury
Publisher: Routledge
ISBN: 1134838980
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
The issue of economic development and monetary stability has produced one of the most passionate debates in economic literature. Yet, much of the evidence employed in this debate is contradictory. Monetary and Financial Policies in Developing Countries: Growth and Stabilization brings together diverse views on the subject within a coherent framework. The work includes: * a balanced assessment of empirical findings and their theoretical foundations on the role of money and growth * a discussion of financial liberalization reform in developing countries * an analysis of monetary policy as an instrument of economic stabilization * an examination of the monetary supply and demand process in developing countries * a study of the relationship between money, credit, the balance of payments, inflation and the exchange rate system * a reflection on market failures and the role of government.
Author: Emil Maria Claassen
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
This book provides a beautifully clear and coherent account of traditional and modern theories of exchange rate determination and the effects of international monetary movements. Focusing on the links between nominal exchange rate determination and the effects on the real economy, includingnecessary stabilization policies, this text provides a stimulating introduction to international monetary economics. Exchange Rate Economics includes a substantial section extending the treatment of internal and external stabilization and adjustment policies to developing countries and transitionaleconomies, as well as analysing the role of policy in industrialized nations and within monetary unions. Covering a complete course in international monetary economics, the book is written in a clear and concise style suitable for all students. Exchange Rate Economics includes a substantial section presenting the latest econometric techniques and results to students.
Author: Subrata Ghatak
Publisher: Psychology Press
ISBN: 9780415097222
Category : Business & Economics
Languages : en
Pages : 488
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Book Description
The third edition of the widely usedIntroduction to Development Economicsprovides a detailed analysis of the major economic issues confronting less developed countries. Throughout, Subrata Ghatak maintains a balance between theories of economic growth and the realities of economic development. Although the basic principles remain unchanged, the past few years have witnessed changes in emphasis and the rise of new areas of interest. Such issues include development and the environment, the international debt crisis, endogenous growth, the impact of foreign aid, fiscal reforms, migration, human capital accumulation and the problems of trade liberalization. Introduction to Development Economicsis divided into four sections and is written in a straightforward style. This is a comprehensive analysis of the area, with many tables added to provide up-to-date statistical data and technical data in the appendices.
Author: Jongrim Ha
Publisher: World Bank Publications
ISBN: 1464813760
Category : Business & Economics
Languages : en
Pages : 524
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Book Description
This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
Author: Ronald I. McKinnon
Publisher: Brookings Institution Press
ISBN: 9780815718499
Category : Business & Economics
Languages : en
Pages : 204
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Book Description
This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344062
Category : Business & Economics
Languages : en
Pages : 74
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Book Description
Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Author: Juan Antonio Morales
Publisher:
ISBN: 9780191888915
Category : Electronic books
Languages : en
Pages :
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Book Description
This book gives a broad overview of the main monetary policy challenges faced by countries that are in the lower income range, have an underdeveloped financial sector, and are weakly integrated to the international capital market.
Author: Akhtar Hossain
Publisher: Edward Elgar Publishing
ISBN: 9781840644531
Category : Developing countries
Languages : en
Pages : 0
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Book Description
The authors (economics, U. of Newcastle, Australia and U. of Western Sydney, Australia, respectively) argue that there is no dichotomy between short-term macroeconomic stabilization and long-term economic growth. They attempt to show that macroeconomic stability is a prerequisite for sustained growth and the root of macroeconomic instability in developing countries lies in the government budget deficits. Annotation copyrighted by Book News, Inc., Portland, OR
Author: Mr.Luis Brandao-Marques
Publisher: International Monetary Fund
ISBN: 1513529730
Category : Business & Economics
Languages : en
Pages : 54
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Book Description
Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.
