The macroeconomics of developing countries: an intermediate textbook

Table of content

PART I CONTEXT AND INSTRUMENTS OF STANDARD MACROECONOMICS: AN OVERVIEW
1. Genesis, Context, Focus, and Accounting Relations of Standard Macroeconomics
2. Long-term Supply-side Macro Models of Potential Growth
3. Demand-side Models of Short-term Income Formation
PART II ECONOMIC STRUCTURE AND LONG-TERM GROWTH IN DEVELOPING COUNTRIES
4 Genesis of Development Macroeconomics and National Accounts in Developing Countries
5 Long-term Growth and Inequality in Economies Relying on Land and Natural Resources
6 Growth in Dualistic Economies with a Rigid Food Supply
7 Rapid Population Growth and Long-term Development
8 Long-term Growth in Developing Countries with a Large Informal Sector
9 Balance of Payments-constrained Growth Models
10 External Financing, Gap Models of Growth, and the Macroeconomics of Relying on Foreign Resources
11 Institutions, Investments, and Growth in Developing Countries
12 How do Neoclassical Growth Models Behave in Low-income Countries?
PART III DEMAND MANAGEMENT AND SHORT-TERM GROWTH: IS-LM AND AS-AD IN DEVELOPING COUNTRIES
13 Short-term Behavioural Equations for Developing Countries
14 IS-LM and AS-AD with Behavioural Equations for the Developing Countries
15 Modelling the Open Economy, Devaluation, and the Exchange Rate in Developing Countries
PART IV SPECIFIC MACROECONOMIC PROBLEMS FACED BY DEVELOPING COUNTRIES
16 Macroeconomic Stabilization in Developing Countries
17 Internal and External Liberalization, Inequality, Growth, and Poverty
18 Macroeconomic Policies for Growth and Poverty Reduction

The Macroeconomics of Developing Countries provides a comprehensive discussion of the exogenous factors and macroeconomic policies that affect the business cycle, long term growth, and distribution of income in developing countries. It examines countries dependent on natural resources and affected by supply rigidities in agriculture. They also feature dualistic markets, a large informal sector, rapid population growth, a vulnerable export sector, and chronic dependence on a volatile global finance. The Macroeconomics of Developing Countries uses these examples to analyse the impact of stablization and adjustment politices on growth, inequality, and poverty.
Despite the launch of the Sustainable Development Goals there is little consensus on how macroeconomic policies can be consistent with these objectives. The Macroeconomics of Developing Countries demonstrates that a critical application of standard models to developing countries can generate erroneous results and induce the adoption of incorrect policy. In order to address this, it discusses the key structural differences between advanced and developing countries in order to justify the construction of alternative models.

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