Development macroeconomics / Pierre-Richard Agénor and Peter J. Montiel

Includes bibliographical references (pages [699]-750) and indexes

-- Scope of development macroeconomics -- Macroeconomic accounts, market structure, and behavioral functions -- Aggregate accounts, production, and market structure -- Behavioral functions -- Financial policies -- The government budget and fiscal managemen t-- Macroeconomic effects of fiscal policy -- Financial markets and the transmission process of monetary policy -- A framework for monetary policy analysis -- Inflation targeting and interest rate rules -- Choosing an exchange-rate regime I: Credibility, flexibility, and welfare -- Choosing an exchange-rate regime II: The role of shocks, contractionary effects, and moral hazard -- Inflation stabilization -- An overview of stabilization programs -- Inflation and short-run dynamics -- Analytical issues in disinflation programs -- Capital flows and financial crises -- Financial integration, capital inflows, and sudden stops -- Exchange-rate crises -- Banking crises and twin crises -- Growth, structural reforms, and political economy -- Macroeconomic policies and growth -- Trade liberalization, financial-sector reforms, and sequencing -- The political economy of adjustment