Controlled Open Economies: A Neoclassical Approach to Structuralism (Clarendon Paperbacks) - Softcover

Gunning, Jan Willem; Bevan, David; Collier, Paul

Softcover

ISBN 10: 0198287836 ISBN 13: 9780198287834

Verlag: Clarendon Press, 1994

Inhaltsangabe

This book develops macroeconomic theory for small open economies characterized by the sort of controls which make much of existing neoclassical economics inapplicable to developing countries. It distinguishes between sustainable combinations of policies and incompatible control regimes. The authors analyze the changes needed to maintain compatibility and the consequences of failing to do so. They also consider optimal investments in response to a temporary shock. The second half of the book contains an analysis of two temporary trade shocks in Africa, in both compatible and incompatible control regimes, demonstrating the applicability of the theory. It shows that in a compatible regime, the regime and the fiscal response to changes in revenue may make the reaction to a shock grossly inefficient. Under incompatibility, an economy exposed to a negative shock may go into steep decline, while responses to conventional policies may be reversed.

Details zur Ausgabe

• Verlag: Clarendon Press
• Erscheinungsdatum: 1994
• Sprache: Englisch
• ISBN 10: 0198287836
• ISBN 13: 9780198287834
• Einband: Taschenbuch
• Anzahl der Seiten: 380
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Ufficio Anagrafiche Messaggerie; ufficio.anagrafiche@meli.it; ; Via Verdi, 8; Assago Milano; 20090; Italien