The Economics of Adjustment and Growth moves the study of macroeconomics for developing economies away from the traditional static approach and toward a more dynamic, growth-oriented framework. Pierre-Richard Agénor presents an analysis of policy issues involved in designing economic adjustment programs in developing countries and structural reform policies aimed at fostering economic growth. Emphasizing the need to take into account the structural features of these countries, his work dwells on the considerable body of analytical research and empirical evidence of the past two decades in academic circles and international organizations. It provides cutting-edge analysis of many current real-world issues, such as financial crises and the role of trade integration in fostering economic growth. Overall the book offers an impressive overview of the macroeconomic and structural adjustment issues facing developing economies today.

The Economics of Adjustment and Growth

Business & Money

Agénor, Pierre-Richard

Economics

Academic Press

An integrated analysis of how financial frictions can be accounted for in macroeconomic models built to study monetary policy and macroprudential regulation. &nbsp; Since the global financial crisis, there has been a renewed effort to emphasize financial frictions in designing closed- and open-economy macroeconomic models for monetary and macroprudential policy analysis. Drawing on the extensive literature of the past decade as well as his own contributions, in this book Pierre-Richard Agénor provides a unified set of theoretical and quantitative macroeconomic models with financial frictions to explore issues that have emerged in the wake of the crisis. These include the need to understand better how the financial system amplifies and propagates shocks originating elsewhere in the economy; how it can itself be a source of aggregate fluctuations; the extent to which central banks should account for financial stability considerations in the conduct of monetary policy; whether national central banks and regulators should coordinate their policies to promote macroeconomic and financial stability; and how much countercyclical macroprudential policies should be coordinated at the international level to mitigate financial spillovers across countries. Agénor focuses on upper middle-income countries, which differ from advanced economies in terms of both their structural features (which include a financial sector dominated by banks, weak supervisory capacity, and a high degree of vulnerability to external shocks) and their long-standing policy challenges (such as managing volatile capital flows). Some of the analytical insights and broad policy lessons that can be drawn from the book will be of relevance to advanced economies as well.

Monetary Policy and Macroprudential Regulation with Financial Frictions

The MIT Press

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.

Development Macroeconomics

Montiel, Peter J.

Princeton University Press

Addressing an audience of policy-oriented economists and theorists, graduate students and advanced undergraduates, this book is the first to synthesize the burgeoning work done in the past fifteen years in the macroeconomics of developing countries, which has now become an important subdiscipline of macroeconomics. In the past general macroeconomic perspectives on developing countries were divided into the ideologically charged categories of "monetarist" or "structuralist," but in recent years a vast literature has developed treating developing country macro problems with the analytical tools of modern macroeconomics. Presenting this new analysis and empirical work in a unified way is the task accomplished by Pierre-Richard Agénor and Peter Montiel's coherent and rigorous treatment.
 Agénor and Montiel include extensive empirical material describing the characteristics of the developing-country macroeconomic context. They explore how the analytical tools of modern macroeconomics can be adapted to accommodate such characteristics and use the resulting models to analyze a diverse set of macroeconomic issues that have confronted developing countries in recent years.

Since it was first published in 1995, Development Macroeconomics has remained the definitive textbook on the macroeconomics of developing countries. Now, in this fully revised and updated third edition, Pierre-Richard Agénor and Peter Montiel cover the latest advances in this rapidly changing field, making this the most up-to-date, authoritative, and comprehensive book available on the macroeconomic issues and challenges developing nations confront today.
 Agénor and Montiel provide completely new and expanded coverage of fiscal discipline, monetary policy regimes, currency and banking crises, monetary unions, management of capital flows, the choice of an exchange-rate regime, public capital and growth, the political economy of stabilization and adjustment--and much more. They review attempts that have been made to adapt standard macroeconomic analysis to conditions in developing economies, and they use a variety of analytical models to address the macroeconomic policy issues that most concern these countries. Agénor and Montiel systematically examine empirical evidence on behavioral assumptions and on the effects of macroeconomic policies in developing nations. They also provide extensive references to literature in the field.
 This new edition of Development Macroeconomics is the ideal introduction for students and an indispensable resource for researchers. 
<ul>
<li>Fully updated and expanded </li>
<li>Provides the most comprehensive treatment of the macroeconomics of developing nations </li>
<li>Features new material on fiscal discipline, monetary policy regimes, currency and banking crises--and much more </li>
<li>Includes extensive references </li>
<li>Serves both as a graduate textbook and a resource for researchers</li>
</ul>

Development Macroeconomics: Third Edition

In the past three decades, developing countries have made significant economic and social progress, from improved infant mortality rates to higher life expectancy. Yet, 1.3 billion people continue to live in extreme poverty in the developing world, leading policymakers to place a renewed emphasis on policies that could promote economic efficiency and the productivity of the poor. How should these policies be sequenced and implemented to spur growth? Would a large, front-loaded increase in public infrastructure investment yield the desired growth-promoting effect? Taking a rigorous look at this kind of investment and its outcomes, this book explores the different channels through which public capital in infrastructure may affect growth and human welfare, and develops a series of formal models for understanding how these channels operate. Bringing together a vast amount of research in one unifying framework, Pierre-Richard Agénor finds that in considering investment in infrastructure, a variety of externalities need to be factored into analytical models and introduced in policy debates. Lack of access to infrastructure not only constrains the expansion of markets and private investment, it may also hinder the achievement of health and education targets. Ease of access, conversely, promotes innovation and empowers women by allowing them to reallocate their time to productive uses. Laying a solid foundation of economic facts and ideas, Public Capital, Growth, and Welfare provides a comprehensive look at the critical role of public capital in development.

Public Capital, Growth and Welfare: Analytical Foundations for Public Policy

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. 
<ul>
<li>The most authoritative book on the subject―now fully revised and expanded</li>
<li>Features new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, and much more</li>
<li>Comes with online supplements on informal financial markets, stabilization programs, the solution of DSGE models with financial frictions, and exchange rate crises</li>
</ul>

Development Macroeconomics: Fourth Edition

Capital-Market Imperfections and the Macroeconomic Dynamics of Small Indebted Economies (Princeton Studies in International Economics)

Princeton Univ Intl Economics

Legal restrictions on economic activity are pervasive in many developing countries, and in an attempt to circumvent these, informal markets often arise. In recent years, the economics profession has become increasingly aware of the importance of these informal markets which have increased enormously in scope, and in some developing countries may rival their official counterparts in size. However, while the existence of such markets is widely recognized, the important macroeconomic role that they may play in many developing countries has only recently begun to be appreciated. In this innovative book the authors present an extensive overview of the nature and scope of informal markets and then, for the first time, informal markets for credit and foreign exchange are integrated in a single analytical framework. For academics, researchers and policy makers Informal Financial Markets in Developing Countries represents the most innovative and ambitious study to date.

Informal Financial Markets in Developing Countries: A Macroeconomic Analysis (Advances in Theoretical and Applied Economics)

Haque, Nadeem U.

Blackwell Pub.

See the best price to sell, buy, or rent books by Agénor, Pierre-Richard. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Agénor, Pierre-Richard

See the best price to sell, buy, or rent books by Agénor, Pierre-Richard. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

The Economics of Adjustment and Growth

Monetary Policy and Macroprudential Regulation with Financial Frictions

Development Macroeconomics

Development Macroeconomics

Development Macroeconomics: Third Edition

Public Capital, Growth and Welfare: Analytical Foundations for Public Policy

Development Macroeconomics: Fourth Edition

Capital-Market Imperfections and the Macroeconomic Dynamics of Small Indebted Economies (Princeton Studies in International Economics)

Informal Financial Markets in Developing Countries: A Macroeconomic Analysis (Advances in Theoretical and Applied Economics)