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Boom, crisis, and adjustment : the macroeconomic experience of developing countries, 1970-90 - a summary (Inglês)

This publication is a summary of the full book which reviews the macroeconomic experiences of eighteen developing countries and looks at the interplay between politics and economics and motivations for economic policies. The review primarily covers the turbulent years from 1974 to 1989 but sometimes looks back to 1965 and forward to 1992. The different policy reactions to external shocks are described. The four authors ask why experiences and policy reactions have differed among the countries and how growth rates were affected; they draw important lessons for the future and provide detailed analyses of inflation and stabilization episodes in Argentina, Brazil, Chile, Indonesia, Mexico, and Turkey. Other large countries included in the study are India, Korea, Morocco, Nigeria, Pakistan, and Thailand. The authors examine why some countries have managed to maintain low inflation, and they compare exchange rate regimes. An entire chapter looks at the interplay between politics and economics, and the final chapter makes specific policy recommendations.

Detalhes

  • Autor

    Little, I.M.D., Cooper, Richard N., Corden, W. Max, Rajapatirana, Sarath

  • Data do documento

    1994/11/30

  • TIpo de documento

    Publicação

  • No. do relatório

    13729

  • Nº do volume

    1

  • Total Volume(s)

    1

  • Data de divulgação

    2001/04/20

  • Disclosure Status

    Disclosed

  • Nome do documento

    Boom, crisis, and adjustment : the macroeconomic experience of developing countries, 1970-90 - a summary

  • Palavras-chave

    terms of trade;terms of trade shock;increase in interest rate;central government budget deficit;Public and Publicly Guaranteed;general level of price;gross fixed capital formation;alternative source of revenue;holders of government debt;members of the military;average rate of inflation;real exchange rate;current account deficit;fixed exchange rate;per capita income;floating exchange rate;crude oil price;demand for money;private capital flow;oil developing country;acceleration of inflation;high oil price;increase in inflation;higher interest rate;floating interest rate;short-term interest rate;tight monetary policy;sale of security;private external debt;external debt service;information on price;tradable goods industry;exchange rate regime;high energy price;decline in investment;exchange rate commitment;availability of fund;transfer of resource;Foreign Exchange Reserve;role of entrepreneur;deposit money bank;central government expenditure;GDP implicit deflator;average interest rate;world capital market;annual inflation rate;heavily indebted country;foreign assistance program;primary budget deficit;oil export revenue;nonbank financial institution;gnp per capita;commodity price boom;price of crude;restrictions on imports;demand for oil;process of adjustment;flexible exchange rate;european monetary system;fixed rate regime;basket of currency;free trade area;high inflation rate;depletion of assets;liberalization of trade;return on investment;demand for output;floating rate debt;financing budget deficits;investment boom;Industrialized countries;oil shock;industrialized country;Exchange Rates;debt crisis;stabilization program;currency devaluation;foreign currency;real value;real wage;future revenue;external borrowing;outstanding debt;inflation tax;cash balance;export boom;financial control;financial market;resource transfer;budgetary control;fiscal restraint;primary deficit;Macroeconomic Management;world economy;transfer transfer;state enterprises;fiscal discipline;negative effect;real resource;negative shock;payment crisis;banking system;average inflation;Macroeconomic Policy;factor price;regime change;import control;internal debt;external shock;foreign credit;government revenue;wage increase;fiscal pressure;chemical industry;public expectation;fiscal policy;vicious cycle;public debt;domestic debt;capital outflow;domestic sources;price stabilization;government enterprise;guaranteed debt;agricultural output;wage restraint;common sense;price control;debt burden;nominal depreciation;export product;domestic currencies;world market;economic reform;currency union;oil boom;flexible rate;political regime;substantial inflow;future inflation;domestic spending;fiscal conservatism;budgetary accountability;outstanding asset;Fiscal policies;governmental entity;public authority;foreign capital;inflationary pressure;moderate inflation;social relation;domestic production;payment problem;currency depreciation;import liberalization;french franc;real devaluation;nominal devaluation;comparative study;Public Spending;structural adjustment;budgetary discipline;synthesis volume;domestic income;domestic lender;turbulent period;relative increase;macroeconomic disturbances;gross output;primary product;federal country;foreign fund;standard economic;private debt;dominant trend;world trade;manufactured goods;ready access;large debtor;public debtor;economic recession;relative price;commercial bank;lending agency;inflationary environment;increased demand;private borrower;industrial country;gdp deflator;financial statistic;financial statistics;insurance companies;savings bank;government supervision;international market;government bond;expansionary impact;life insurance;political factor;ample source;industrial material;adverse shock;copper price;interest earnings;foreign trade;export price;foreign debt;domestic inflation;positive shock;budgetary burden;primary surplus;Cash flow;domestic enterprise;real appreciation;fiscal control;public finance;trade restriction

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