Overview
The global financial crisis triggered severe shocks for developing countries, whose embrace of greater commercial and financial openness has increased their exposure to external shocks, both real and financial. This new edition of Development Macroeconomics has been fully revised to address the more open and less stable environment in which developing countries operate today.Describing the latest advances in this rapidly changing field, the book features expanded coverage of public debt and the management of capital inflows as well as new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, currency unions, and the choice of an exchange-rate regime. A new chapter on dynamic stochastic general equilibrium (DSGE) models with financial frictions has been added to reflect how the financial crisis has reshaped our thinking on the role of such frictions in generating and propagating real and financial shocks. The book also discusses the role of macroprudential regulation, both independently and through its interactions with monetary policy, in preserving financial and macroeconomic stability.Now in its fourth edition, Development Macroeconomics remains the definitive textbook on the macroeconomics of developing countries.The most authoritative book on the subject now fully revised and expandedFeatures new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, and much moreComes with online supplements on informal financial markets, stabilization programs, the solution of DSGE models with financial frictions, and exchange rate crises
Full Product Details
Author: Pierre-Richard Agaenor ,
Pierre-Richard Agenor (University of Manchester The World Bank The World Bank The World Bank The World Bank University of Manchester University of Manchester The World Bank The World Bank) ,
Peter J Montiel (Williams College, Massachusetts) ,
Pierre-Richard Nor
Publisher: Princeton University Press
Imprint: Princeton University Press
Edition: 4th
ISBN: 9781400866267
ISBN 10: 140086626
Pages: 792
Publication Date: 01 January 2015
Audience:
General/trade
,
General
Format: Electronic book text
Publisher's Status: Active
Availability: Available To Order
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Reviews
Praise for the previous edition: Since its first edition, the book has remained the definitive text on the macroeconomics of developing countries. In this third edition, the authors try to cover the latest advances in this rapidly changing field, making the book the most comprehensive source on the subject. -- Abstracts of Public Administration, Development, and Environment
Author Information
Pierre-Richard Agenor is the Hallsworth Professor of International Macroeconomics and Development Economics at the University of Manchester. Peter J. Montiel is the Fairleigh S. Dickinson Jr. 41 Professor of Economics at Williams College.
