Macroeconomics in Emerging Markets 2nd Edition by Peter J Montiel ISBN 0521733049 978-0521733045

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Product details: 

ISBN 10: 0521733049 

ISBN 13: 978-0521733045 

Author: Peter J. Montiel 

The macroeconomic experience of emerging and developing economies has tended to be quite different from that of industrial countries. Compared to industrial countries, emerging and developing economies have tended to be much more unstable, with more severe boom/bust cycles, episodes of high inflation, and a variety of financial crises. This textbook describes how the standard macroeconomic models that are used in industrial countries can be modified to help understand this experience, and how institutional and policy reforms in emerging and developing economies may affect their future macroeconomic performance. This second edition differs from the first in offering – extensive new material on themes such as fiscal institutions, inflation targeting, emergent market crises, and the Great Recession – numerous application boxes – end-of-chapter questions – references for each chapter – more diagrams, less taxonomy, and a more reader-friendly narrative – enhanced integration of all parts of the work.

Table of contents: 

Part I. The Macroeconomic Framework:

1. Introduction and overview

2. Concepts and definitions: the macroeconomic accounts

3. Short-run macroeconomics and long-run growth

Part II. A Benchmark Macroeconomic Model:

4. The aggregate production function, the labor market, and aggregate supply

5. Aggregate demand and goods market equilibrium

6. Financial markets

7. Short-run macroeconomic equilibrium

8. Medium-run macroeconomic equilibrium

Part III. Public Finance and Macroeconomic Performance:

9. The intertemporal budget constraint of the public sector

10. Sovereign risk premia

11. Fiscal institutions

12. Privatization

13. High inflation and inflation stabilization

Part IV. Monetary Institutions and Monetary Policy:

14. Monetary institutions

15. Inflation targeting

Part V. Exchange Rate Management:

16. Equilibrium real exchange rates

17. The benchmark model with floating exchange rates

18. Exchange rate regimes

19. Managing an officially-determined rate

Part VI. The Financial Sector and Macroeconomic Performance:

20. Finance, welfare, and growth

21. Financial repression

22. Financial reform

23. The benchmark model with banks

24. Coping with capital inflows

Part VII. Varieties of Emerging-Market Crises:

25. Sovereign debt crises

26. Banking crises

27. Currency crises and crisis interactions

28. Lessons from the emerging market crises of the nineties

29. Lessons from the great recession.

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Tags: Peter J Montiel, Macroeconomics, Emerging Markets