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The practice of economic development has undergone significant transformation over the past decade, due to globalisation and democratisation. This text provides a clear and concise introduction to the development problems that policy-makers, professionals, development agencies, NGOs, charities and private citizens face.

Economic development. --- Economic policy. --- Social policy.

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It is now ten years since the former Soviet Union collapses and the countries of Europe and Central Asia abandoned central planning. Enough experience has accumulated to allow a more reflective study of the transition period. One of the most critical elements of the transition to a market-based economy has been the establishment of the institutions and markets that constitute a financial system. This book examines financial transition through the lens of flow of funds accounts. These accounts have been used in the OECD countries for many years as an aid in analyzing money flows around their fi

Finance --- Flow of funds --- EEU / Central & Eastern Europe --- EE / Estonia - Estland - Estonie --- KZ / Kazakhstan --- LT / Lithuania - Litouwen - Lituanie --- LV / Latvia - Letland - Lettonie --- RU / Russia - Rusland - Russie --- 333.100 --- 333.130.1 --- -Finance --- -Flow of funds --- -332.0947 --- Funding --- Funds --- Economics --- Currency question --- Algemeenheden. Theorie en principes van de bankorganisatie en -techniek. --- Bankbedrijf. Buiten-balans verrichtingen. --- 332.0947 --- Algemeenheden. Theorie en principes van de bankorganisatie en -techniek --- Bankbedrijf. Buiten-balans verrichtingen --- E-books --- Finance - Europe, Eastern --- Finance - Former Soviet republics --- Flow of funds - Former Soviet republics --- Flow of funds - Europe, Eastern

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"The practice of economic development has undergone significant transformation over the past decade, due to globalization and democratization. While beneficiaries previously held little sway in the way international economic institutions delegated funds for projects, today it would be difficult-if not impossible-for the average government or for the average multilateral organization to build a road, reform an education curriculum, or sign a mining concession without, at a minimum, a process of consultation with those affected. This change has created a greater demand for development knowledge. Economic Development: What Everyone Needs to Know provides a clear and concise introduction to the development problems that policy-makers, professionals, development agencies, NGOs, charities, and private citizens face. Beginning with the basic concepts that inform the practice of development, this wide-ranging book addresses the major challenges that shape the field, highlighting the doubts, trade-offs, and dilemmas. Drawing on his more than twenty-five years of experience working in development in the Middle East, Eastern Europe, Central Asia, Latin America and Africa, Marcelo Giugale illustrates his chapters with real-life examples from all over the globe. He looks at a host of topics including the reasons why seemingly obvious reforms never happen, power dynamics between governments and beneficiaries, government corruption, state violence, natural resources, globalization and trade, anticipating global crises, measuring equity, ending poverty, the "new" poor, gender, indigenous peoples, children, health care, food prices, and technology. While development is a complex area in which there are no definitive answers, Giugale highlights the very real challenges that face the profession now and will continue to face development practitioners in the years to come"-- "This book brings non-expert readers to the frontier of economic development. How governments actually function, the basics of economic policy, new tools for social assistance, the reality of Africa, and the challenges of inclusion, education, health, infrastructure, data, foreign aid, among others, are explained through simple, jargon-free questions and answers"--

Developing countries: economic development problems --- Economic development --- Economic policy --- Globalization --- Social policy --- 330.1 --- 330.35 --- National planning --- State planning --- Family policy --- Social history --- Economic nationalism --- Economic planning --- Economics --- Planning --- National security --- Development, Economic --- Economic growth --- Growth, Economic --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- 330.1 Economische grondbegrippen. Algemene begrippen in de economie --- Economische grondbegrippen. Algemene begrippen in de economie --- 330.35 Economische groei. Kwantitatieve toename. Technische vooruitgang --zie ook {338.09} --- Economische groei. Kwantitatieve toename. Technische vooruitgang --zie ook {338.09} --- Social aspects

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July 2000 - Empirical econometric evidence shows that Mexico's simulated output recovery after a negative external shock was faster (a third as long) when the country's policymakers let the nominal foreign exchange rate float than when they fixed it, and much faster than in other developing countries that kept nominal foreign exchange rates constant, especially those that resorted to currency board arrangements to support that constancy. The academic and policy debate about optimal foreign exchange rate regimes for emerging economies has focused more on the theoretical costs and benefits of possible regimes than on their actual performance. Giugale and Korobow report on what can be called exchange-rate-regime-dependent differential shock persistence-that is, the time output takes to return to its trend after a negative shock-in a sample of countries representing various points on the spectrum of nominal foreign exchange flexibility. They find strong evidence that Mexico's simulated output recovery after a negative external shock was faster (a third as long) when the country's policymakers let the nominal foreign exchange rate float than when they fixed it, and much faster than in other developing countries that kept nominal foreign exchange rates constant, especially those that resorted to currency board arrangements to support that constancy. These results are insufficient to guide the choice of regime (they lack general equilibrium value and are based on a limited sample of countries), but they highlight an important practical consideration in making that choice: How long it takes for output to adjust after negative shocks is sensitive to the level of rigidity of the foreign exchange regime. This factor may be critical when the social costs of those adjustments are not negligible. This paper-a product of the Mexico Country Department, Latin America and the Caribbean Region-is part of a larger effort in the region to understand policy options open to developing countries for handling macroeconomic volatility in a globalized economy. The authors may be contacted at mgiugale@worldbank.org or akorobow@worldbank.org.

Currencies and Exchange Rates --- Currency --- Currency Board --- Currency Board Arrangements --- Currency Boards --- Debt Markets --- Domestic Economy --- Econometric Evidence --- Economic Stabilization --- Economic Theory and Research --- Economies --- Emerging Markets --- Exchange Rate Flo Exchange Rate Regime --- Exchange Regime --- External Shock --- Finance and Financial Sector Development --- Financial Crises --- Fiscal and Monetary Policy --- Foreign Exchange --- Foreign Exchange Rate --- Foreign Exchange Rates --- Inflation --- International Financial Integration --- Macroeconomic Management --- Macroeconomics and Economic Growth --- Monetary Unions --- Open Capital Accounts --- Private Sector Development --- Public Sector Development --- Structural Reform

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Much of Sub-Saharan Africa's post-independence macroeconomic history has been characterized by boom-bust cycles. Growth accelerations have been common, but short lived. Weak policy formulation and implementation led to large external and fiscal imbalances, excessive debt accumulation, volatile inflation, and sharp exchange rate fluctuations. This characterization changed, however, in the mid-1990s, when debt relief and better macroeconomic policy began to provide a source of stability that has helped sustain robust growth throughout much of the region. In resource rich countries, the process was supported over the past few years by a dramatic increase in commodity prices. But resources are only one part of the story. Growth has exhibited impressive resilience even in the face of negative external shocks, as in 2008-2009. While the short-term outlook remains positive, over the medium term policy makers face new challenges. Several countries have the potential to greatly expand natural resource production and become major commodity exporters; volatile resource revenue will complicate their fiscal and monetary planning. Rising investor appetite for financial assets of frontier markets and the development of domestic debt markets will continue to broaden the menu of and trade-offs among financing options at a time when global interest rates may start sloping upward. Complex financing arrangements-notably for private-public or public-public partnerships in infrastructure-will become more common and will generate new types of fiscal commitments and contingencies.

Currencies and Exchange Rates --- Debt --- Debt Markets --- Economic Theory & Research --- Emerging Markets --- Environmental Economics & Policies --- Fiscal --- Growth --- Macroeconomics --- Macroeconomics and Economic Growth --- Monetary --- Poverty Reduction --- Shocks --- Africa