Development Macroeconomics

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.