Monetary Economics in Developing Countries PDF Download

Author: Subrata Ghatak
Publisher:
ISBN: 9780230003330
Category : Monetary policy
Languages : en
Pages : 302

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Book Description
This book highlights the basic principles of monetary economics and their application to developing countries. Fully illustrated and written in an accessible style, it will be an attractive to students wanting to understand the economic aspects of development and those researching in the area The new edition includes four entirely new chapters, with material on financial crises, the debates surrounding inflation targeting, and examination of the role and future of financial institutions, such as the World Bank and the IMF.

Author: Emil Maria Claassen
Publisher: Oxford University Press, USA
ISBN:
Category : Cambio exterior
Languages : en
Pages : 350

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Book Description
Both traditional and modern theories of exchange rate determination are described in this study, along with the effects of international monetary movements. The text provides a detailed introduction to international monetary economics.

Author: Subrata Ghatak
Publisher: Psychology Press
ISBN: 9780415097222
Category : Business & Economics
Languages : en
Pages : 488

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Book Description
The third edition of the widely usedIntroduction to Development Economicsprovides a detailed analysis of the major economic issues confronting less developed countries. Throughout, Subrata Ghatak maintains a balance between theories of economic growth and the realities of economic development. Although the basic principles remain unchanged, the past few years have witnessed changes in emphasis and the rise of new areas of interest. Such issues include development and the environment, the international debt crisis, endogenous growth, the impact of foreign aid, fiscal reforms, migration, human capital accumulation and the problems of trade liberalization. Introduction to Development Economicsis divided into four sections and is written in a straightforward style. This is a comprehensive analysis of the area, with many tables added to provide up-to-date statistical data and technical data in the appendices.

Author: Takatoshi Ito
Publisher: University of Chicago Press
ISBN: 0226386937
Category : Business & Economics
Languages : en
Pages : 466

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Book Description
The exchange rate is a crucial variable linking a nation's domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades. Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.

Author: Anis Chowdhury
Publisher: Routledge
ISBN: 1134838980
Category : Business & Economics
Languages : en
Pages : 304

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Book Description
The issue of economic development and monetary stability has produced one of the most passionate debates in economic literature. Yet, much of the evidence employed in this debate is contradictory. Monetary and Financial Policies in Developing Countries: Growth and Stabilization brings together diverse views on the subject within a coherent framework. The work includes: * a balanced assessment of empirical findings and their theoretical foundations on the role of money and growth * a discussion of financial liberalization reform in developing countries * an analysis of monetary policy as an instrument of economic stabilization * an examination of the monetary supply and demand process in developing countries * a study of the relationship between money, credit, the balance of payments, inflation and the exchange rate system * a reflection on market failures and the role of government.

Author: Ronald I. McKinnon
Publisher: Brookings Institution Press
ISBN: 9780815718499
Category : Business & Economics
Languages : en
Pages : 204

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Book Description
This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.

Author: Jongrim Ha
Publisher: World Bank Publications
ISBN: 1464813760
Category : Business & Economics
Languages : en
Pages : 524

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Book Description
This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.

Author: Juan Antonio Morales
Publisher:
ISBN: 9780191888915
Category : Electronic books
Languages : en
Pages :

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Book Description
This book gives a broad overview of the main monetary policy challenges faced by countries that are in the lower income range, have an underdeveloped financial sector, and are weakly integrated to the international capital market.

Author: Sheila Page
Publisher: Routledge
ISBN: 1136139168
Category : Business & Economics
Languages : en
Pages : 381

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Book Description
Developing countries now use monetary policy as part of their adjustment programmes but its targets, the tools, and the theory were developed for advanced countries. Low income countries do not have the sophisticated financial sectors that rich ones can assume, and the shocks and size of adjustment which they face may be much greater. Using six country studies, with special analysis of the roles of the external sector and the informal financial sector, this book analyses the interaction among monetary policy, the financial sector, and development.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344062
Category : Business & Economics
Languages : en
Pages : 74

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Book Description
Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.