Varieties of Stabilization Experience
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Varieties of Stabilization Experience

Varieties of Stabilization Experience


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About the Book

This book examines and appraises the results of 18 recent studies undertaken by the World Institute for Development Economics Research (WIDER) of the United Nations University to investigate the experiences developing countries have had with stabilization programmes. The author is critical of the orthodox "neoclassical" or "monetarist" approach of the International Monetary Fund and the World Bank, and compares these with the method in which WIDER research teams approached the problem of stabilization from "structuralist" macroeconomic theory. He argues that different economies with different institutional relationships and varying lines of causality in their economic systems require different approaches to stabilization. The book concludes by addressing the problem of how the Fund/Bank market-oriented methodology can be modified to deal with the macroeconomic linkages beyond its control and how stabilization can be geared towards growth.

Table of Contents:
WIDER country studies. Part 1 Economic stabilization in the Third World. Part 2 Macroeconomic shocks and the social matrix: internal shocks; external shocks; political considerations and the social matrix. Part 3 Stabilization theory: demand-supply balance; price-cost relationships; the balance of payments; financial markets; other markets, black and grey; a checklist for stabilizations. Part 4 Country experiences: externally strangled small, open economies; foreign bonanzas, short and long run; redistribution and liberalization experiments; heterodox shocks; two special cases; a scorecard on stabilizations. Part 5 How stabilization can be made to work better: theses on Bretton Woods; financial programming; improving the methodology; other perspectives; questions of strategy.


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Product Details
  • ISBN-13: 9780198286387
  • Publisher: Oxford University Press
  • Binding: Hardback
  • Language: English
  • Weight: 382 gr
  • ISBN-10: 0198286384
  • Publisher Date: 03 Nov 1988
  • Height: 200 mm
  • Returnable: N
  • Width: 140 mm


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