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The global crisis of 2008-09 has brought to the forefront a plethora of economic and political policy issues. There is a re-opening of discussion on basic economic concepts, appropriate framework for analysis, role of private and public sectors in the economy, structural transformation of economies, human development and managing of growing risks and crises. The purpose of this book has been to bring home the inter-linkages in various parts of the economy and the need for practical policy making to reach development goals while being aware of the instabilities, complexities and downside risks

Developing countries -- Economic policy. --- Free enterprise -- Developing countries. --- Global Financial Crisis, 2008-2009. --- Global Financial Crisis, 2008-2009 --- Free enterprise --- Economic development --- Business & Economics --- Economic Theory --- Developing countries --- Environmental aspects --- Economic policy. --- Development, Economic --- Economic growth --- Growth, Economic --- Free markets --- Laissez-faire --- Markets, Free --- Private enterprise --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Financial crises

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The literature on growth and poverty is voluminous and still evolving. This title distills the most important lessons from developing countries' experience with growth and poverty. It provides a broad understanding of the impact of economic policies on growth and poverty reduction in developing countries. After describing basic economic relationships that summarize the workings and the measurement of the macroeconomy--and after confirming that growth is the most critical factor in alleviating poverty--the book turns to individual policy areas. These include the various roles of government, amo

Economic conditions. Economic development --- LDC / Developping Countries - Pays En Développement --- 313 --- 307.8 --- 338.340 --- 336.61 --- 339.21 --- 339.115 --- 331.30 --- 338.8 --- Poverty --- Economic development --- Development economics --- 339.46 --- Economics --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Statics and dynamics (Social sciences) --- Resource curse --- Destitution --- Wealth --- Basic needs --- Begging --- Poor --- Subsistence economy --- Levenswijze en levensstandaard. Levensminimum. sociale indicatoren (Studiën). --- Statistiek in verband met de levenskwaliteit. --- Algemene ontwikkeling in de Derde Wereld. --- Financieel beleid. --- Ongelijkheid en herverdeling van vermogens en inkomens. Inkomensbeleid. --- Buitenlandse schuld. Debt Equity Swap in LDC. --- Economische toestand. --- Economische groei. --- Development economics. --- Economic development. --- Poverty. --- Business & Economics --- Economic History --- Statistiek in verband met de levenskwaliteit --- Levenswijze en levensstandaard. Levensminimum. sociale indicatoren (Studiën) --- Economische toestand --- Financieel beleid --- Algemene ontwikkeling in de Derde Wereld --- Economische groei --- Buitenlandse schuld. Debt Equity Swap in LDC --- Ongelijkheid en herverdeling van vermogens en inkomens. Inkomensbeleid

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This paper is about micro foundations of productivity and growth. There are several studies on productivity for advanced economies but relatively few for developing countries. Using data from the investment climate surveys of the World Bank, estimation results from 45 developing countries, complemented by extended analysis at firm and industry levels for Brazil and India for the period 2002-05, indicate the following: (i) confirmation of the importance of total factor productivity at firm, industry and national levels, but total factor productivity progressively tapers off at each level of aggregation implying that there is a less than one-to-one relationship between micro-efficiency, sector growth, and macro growth; (ii) capital accumulation is more important at the macro level than the micro level; (iii) productivity at the micro level is driven by research and development, the capacity utilization rate, and adoption of foreign technology (all of which involve management decisions), and is negatively related to corruption and instability, tax, and financial regulations; and (iii) confirmation of the lower contribution of total factor productivity to output growth in developing countries than in developed economies. Management decisions are involved in a lot of day-to-day operations at the firm level and therefore management is an unmeasured input. In developing countries, at the firm level, there is a need to understand the contribution of quality of inputs (management quality, education and labor quality, training, experience of workers, use of computers at work) and also the role of external agglomeration (for example, location in a booming city, competitive pressures from new firms, trade competition, and regulations).

Achieving Shared Growth --- Agriculture --- Constant returns to scale --- E-Business --- Economic Growth --- Economic growth --- Economic Theory & Research --- Foreign competition --- Gross domestic product --- Growth rate --- Human capital --- Increasing returns --- Increasing returns to scale --- International trade --- Labor Policies --- Macroeconomic growth --- Macroeconomics and Economic Growth --- Natural monopolies --- Poverty Reduction --- Private Sector Development --- Production function --- Production functions --- Productivity --- Social Protections and Labor --- Total factor productivity --- Total factor productivity growth --- Trade liberalization --- Trade policies --- Value added

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This paper uses the central tool of an investment-savings and monetary-policy model with an augmented Philips curve and presents a few extensions of that model to analyze the multiplier effects of macroeconomic policies in the United States. In doing so, the authors incorporate realistic assumptions in the model related to the recent financial characteristics of the global economy. The monetary policy reaction function embeds a new augmented Taylor-rule incorporating housing and stock prices and the credit lending rate. And the household consumption and firm investment decisions incorporate housing and stock assets and the credit market frictions. The equilibrium income is derived and compared with the actual nominal gross domestic product of the United States for the period 1990 to 2009. More importantly, fiscal and trade multipliers are derived and discussed. The main finding is that government spending, tax cut, and trade multipliers are relatively smaller in size when more realistic features are incorporated in the model. The model simulation shows that the model can track actual gross domestic product reasonably well. The model should be further improved before it could be used for policy exercises.

Access to Finance --- Aggregate demand --- Assets --- Central bank --- Central banks --- Closed economy --- Debt Markets --- Development policy --- Economic Stabilization --- Economic Theory & Research --- Emerging Markets --- Equilibrium --- Finance and Financial Sector Development --- Fiscal policy --- GDP --- Gross domestic product --- Income --- Interest rate --- Interest rates --- Macroeconomic policies --- Macroeconomics and Economic Growth --- Monetary policies --- Monetary policy --- Multiplier effects --- Multipliers --- Private Sector Development --- Stock prices --- Wealth

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This paper provides an overview of the period prior to the recent global crisis, and the policies that were adopted around the world in response to the crisis. It highlights a number of key issues regarding economic and financial policies that governments have faced both globally and nationally. These are related to the management of boom and bust episodes that deserve more attention in policy circles in the future.

Access to Finance --- Accounting --- Capital account --- Capital markets --- Cross-border flows --- Currencies and Exchange Rates --- Debt Markets --- Developing countries --- Domestic credit --- Economic Theory & Research --- Emerging Markets --- Expenditures --- Finance and Financial Sector Development --- Financial crisis --- Financial market --- Financial stability --- Financial system --- Global markets --- International bank --- Macroeconomics and Economic Growth --- Policy responses --- Portfolio --- Portfolio diversification --- Private Sector Development --- Remittances --- Stock market --- Stock market capitalization --- Trading