Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Macroeconomic Policies, Instability and Growth in the World

Macroeconomic Policies, Instability and Growth in the World High instability and low growth characterise the macroeconomic performance of most developing countries. Inadequate policies are often to blame. This paper documents the empirical regularities that characterise the relationships among macroeconomic/financial policies, instability and growth across developing and industrial nations. While successful transitions to low instability and high growth are not frequent, they have been observed in a dozen countries. Such win-win transitions require that institutions and rules be put in place to change government incentives for choosing between policies that reflect narrow interests or social conflict — contributing to more instability and less growth — and social welfare maximising policies that help growth and make economies more resilient to residual instability. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of African Economies Oxford University Press

Macroeconomic Policies, Instability and Growth in the World

Loading next page...
 
/lp/oxford-university-press/macroeconomic-policies-instability-and-growth-in-the-world-5ds67MSn0d

References (50)

Publisher
Oxford University Press
Copyright
© Published by Oxford University Press.
Subject
Articles
ISSN
0963-8024
eISSN
1464-3723
DOI
10.1093/jafeco/7.suppl_2.116
Publisher site
See Article on Publisher Site

Abstract

High instability and low growth characterise the macroeconomic performance of most developing countries. Inadequate policies are often to blame. This paper documents the empirical regularities that characterise the relationships among macroeconomic/financial policies, instability and growth across developing and industrial nations. While successful transitions to low instability and high growth are not frequent, they have been observed in a dozen countries. Such win-win transitions require that institutions and rules be put in place to change government incentives for choosing between policies that reflect narrow interests or social conflict — contributing to more instability and less growth — and social welfare maximising policies that help growth and make economies more resilient to residual instability.

Journal

Journal of African EconomiesOxford University Press

Published: Dec 1, 1998

There are no references for this article.