Macroeconomics in Emerging Markets Book

	Preface
Pt. 1	Overview
1	Macroeconomics and Development	3
Pt. 2	A Benchmark Macroeconomic Model for an Emerging Economy
2	Equilibrium in the Domestic Labor and Goods Markets	23
3	Equilibrium in Financial Markets	42
4	Short-Run Macroeconomic Equilibrium	70
5	Medium-Term Macroeconomic Equilibrium	88
Pt. 3	Public Finance and Macroeconomic Performance
6	The Intertemporal Budget Constraint of the Public Sector	105
7	Consequences of Insolvency I: High Inflation	124
8	Consequences of Insolvency II: Public Sector Debt and Economic Growth	147
9	Measures for Achieving Fiscal Credibility I: Central Bank Independence	160
10	Measures for Achieving Fiscal Credibility II: Privatization	175
Pt. 4	The Financial Sector and Macroeconomic Performance
11	Finance, Welfare, and Growth	187
12	Financial Repression	214
13	Financial Reform, Public Policy, and Financial Crises	239
14	Financial Openness and the Sequencing of Financial Reform	261
15	Coping with Capital Inflows	282
Pt. 5	Exchange Rate Management
16	Equilibrium Real Exchange Rates	311
17	Exchange Rate Regimes	333
18	Managing an Officially Determined Exchange Rate	359
19	Banking Crises and Exchange Rate Crises in Emerging Economies	376
20	Domestic Macroeconomic Management in Emerging Economies: Lessons from the Crises of the Nineties	405
	References	429
	Index	435