The Macroeconomics of Developing Countries

Description

This book provides a comprehensive discussion of the exogenous factors and macroeconomic policies that affect the business cycle, long term growth, and the distribution of income in developing countries.

• Suggests that the acritical application to developing countries of macroeconomic models routinely used in advanced countries may lead to wrong conclusions and policy mistakes
• Stimulates alternative thinking on developing models of short term income formation and long term growth that take into account the differences in structures, norms and institutions prevailing in developing countries
• Presents a framework for alternative approaches to macroeconomic analysis that takes into account the structural characteristics of low-income countries
• Theorizes macroeconomic measures to facilitate reaching the Sustainable Development Goals by 2030

About the Author(s)

Giovanni Andrea Cornia, Honorary Professor of Economics, Department of Economics and Management, University of Florence, Italy

Giovanni Andrea Cornia is an Honorary Professor of Economics at the University of Florence, Italy. He was previously the Director of UNU-WIDER and a Chief Economist at UNICEF. He has also held positions in other UN agencies and the private sector. Between 2010 and 2018 he served on the UN Committee for Development Policies of the United Nations' General Assembly, and in 2012 was elected as the first President of the Italian Development Economists Association. He has co-authored, edited or co-edited eighteen books on development and transition economics, including UNICEF's influential study Adjustment with a Human Face (OUP, 1987). He has published 45 articles in scholarly journals and 140 book chapters or working papers on development macroeconomics, inequality, poverty, political economy, child wellbeing, and human development

Table of Contents

Part I: Context and instruments of standard macroeconomics: An overview
1:Genesis, context, focus, and accounting relations of standard macroeconomics
2:Long-term supply-side models of potential growth
3:Short-term demand-side models of determination of income level
Part II: Economic structure and long-term growth in developing countries
4:Genesis of macroeconomics and national accounts in developing countries
5:Long term growth and inequality in economies relying on land and natural resources
6:Growth in a dualistic economy with a rigid food supply
7:Rapid population growth and long-term development
8:Long-term growth in economies with a large informal sector
9:Balance of payments constrained growth models
10:External financing, gap models of growth, and the macroeconomics of aid
11:Institutions, investments and growth in developing countries
12:How do neoclassical growth models behave in low-income countries?
Part III: Demand management and short-term growth: IS-LM and AS-AD in developing countries
13:Short-term behavioral equations for developing countries
14:IS-LM and AS-AD with behavioral equations for the developing countries
15:Modelling the open economy, devaluation and the exchange rate in developing countries
Part IV: Specific macroeconomic problems faced by developing countries
16:Macroeconomic stabilization
17:Internal and external liberalization, inequality, growth, and poverty
18:Macroeconomic policies for growth and poverty reduction