As the former Eastern Bloc countries and the developing nations endeavor to modernize their economies, much macroeconomic research in the next decade will involve stabilization and reconstruction. These informative, fact-filled studies describe how measures to control inflation have been implemented in Bolivia, Chile, Argentina, Brazil, Israel, Mexico, Turkey, and Yugoslavia.In discussing which of these measures have succeeded and which ones have failed, the authors go beyond the normative approach taken in most studies of stabilization to focus on political incentives and constraints on actual policymaking. The up-to-date data they provide make this a valuable collective exploration of contemporary efforts at stabilization and structural adjustment.In the 1980s each of the countries considered suffered from crippling inflation brought on by externally generated economic shocks and by mounting debt. Various strategies to control inflation and to achieve economic stabilization have met with different levels of success. The strategies tried in Brazil and Argentina worked only temporarily; the current policies of Israel, Mexico, and Bolivia have succeeded, although these countries' transitions to sustainable growth are not yet certain.Michael Bruno is Governor of the Bank of Israel. He and Nissan Liviatan are Professors of Economics at Hebrew University in Jerusalem. Stanley Fischer is Professor of Economics at MIT. Elhanan Helpman is Professor of Economics at Tel Aviv University. Leora Meridor is Deputy Director of the Bank of Israel's Research Department.
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Book Description
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About the Author
Nissan Liviatan is Professor of Economics at Hebrew University in Jerusalem.
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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- Credibility without Rules?: Monetary Frameworks in the Post-Bretton Woods Era (Occasional Paper) by Carlo Cottarelli in Back Matter (1), Back Matter (2), and Back Matter (3)
- The Economic History of Latin America since Independence (Cambridge Latin American Studies) by Victor Bulmer-Thomas in Back Matter (1), Back Matter (2), and Back Matter (3)
- Financial Sector Reforms and Exchange Arrangements in Eastern Europe (Occasional Paper (Intl Monetary Fund)) (Part I) by Guillermo A. Calvo on page 32, and page 33
- Economic Reforms in New Democracies: A Social-Democratic Approach by Luiz Carlos Bresser Pereira on page 72, and Back Matter
- Reform, Recovery, and Growth: Latin America and the Middle East (National Bureau of Economic Research Project Report) by Rudiger Dornbusch on page 215, and page 367
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