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; and enhanced integration of all parts of the work.
- ISBN13 9780521514729
- Publish Date 29 April 2011 (first published 1 January 2003)
- Publish Status Active
- Out of Print 2 December 2021
- Publish Country GB
- Imprint Cambridge University Press
- Edition 2nd Revised edition
- Format Hardcover
- Pages 778
- Language English