The Open economy : tools for policymakers in developing countries

목차 (Table of Contents)

• CONTENTS
• Preface = ⅸ
• 1. Introduction / F. Leslie C. H. Helmers(The World Bank) = 1
• 1. Policy Issues and the Main Policy Tools = 2
• 2. Country Studies = 7
• 3. Not Policy Miracles = 9
• Note = 9
• 2. The Real Exchange Rate / F. Leslie C. H. Helmers = 10
• 1. The Real Exchange Rate as the Price of Foreign Exchange = 11
• 2. Analysis of the Real Exchange Rate = 12
• 3. Expenditure Reducing and Expenditure Switching = 16
• 4. Floating and Fixed Exchange Rates = 19
• 5. Effects of Changes in the Real Exchange Rate = 26
• Notes = 32
• Part Ⅰ. Policy Issues and the Main Policy Tools
• 3. Balance of Payments Issues / Rudiger Dornbusch(Massachusetts Institute of Technology) = 37
• 1. An Overview of Linkages = 37
• 2. Basic Accounting Concepts = 42
• 3. Policy Instruments = 45
• 4. Determinants of Growth = 49
• 5. Some Mistakes To Be Avoided = 51
• Notes = 52
• 4. External Shocks and Domestic Policy Responses / Paul Krugman(Massachusetts Institute of Technology) = 54
• 1. Anatomy of External Shocks = 54
• 2. Policy Response to External Shocks = 64
• 3. Additional Problems = 74
• 4. Conclusions = 78
• 5. Overvaluation and Trade Balance / Rudiger Dornbusch = 80
• 1. Effects of Overvaluation = 80
• 2. Definitions of the Real Exchange Rate = 82
• 3. Effects of Disturbances = 86
• 4. Goods, Factor, and Asset Markets = 91
• 5. Country Experiences = 96
• 6. Exchange Rate Rules = 101
• 7. Undervaluation = 104
• Notes = 107
• 6. Devaluation and Inflation / Stanley Fischer(Massachusetts Institute of Technology) = 108
• 1. Exchange Rate Arrangements = 108
• 2. Exchange Rate Indicators = 114
• 3. How Does Devaluation Work? = 117
• 4. Assets Market Problems = 121
• 5. Devaluation and High Inflation = 122
• Notes = 127
• 7. Multiple Exchange Rates, Capital Controls, and Commercial Policy / Susan M. Collins(Harvard University) = 128
• 1. Overview of Policy Alternatives = 129
• 2. Multiple Exchange Rates and Trade Taxes = 132
• 3. Quantitative Restrictions = 140
• 4. Capital Controls = 144
• 5. Dual Exchange Rates = 148
• 6. Conclusions = 154
• Appendix 1. Jamaica in the 1970s = 155
• Appendix 2. Capital Flight = 157
• Appendix 3. Black Markets for Foreign Exchange = 158
• Selected Bibliography = 160
• Notes = 163
• 8. Exchange Reserves as Shock Absorbers / John Williamson(Institute for International Economics) = 165
• 1. Reserve Composition = 167
• 2. Purpose of Holding Reserves = 172
• 3. The Norm for the Reserve Stock = 175
• 4. Speed of Adjustment = 178
• 5. Conclusions = 182
• Glossary = 184
• Selected Bibliography = 185
• Notes = 185
• 9. External Borrowing and Debt Management / Albert Fishlow(University of California, Berkeley) = 187
• 1. History of Capital Movements = 188
• 2. The First Oil Price Shock = 196
• 3. The Second Oil Price Shock = 202
• 4. Coping with the Debt Crisis = 205
• 5. Prospects for New Capital Flows = 210
• 6. Policy Lessons = 217
• Appendix. Debt Dynamics = 220
• Selected Bibliography = 221
• Notes = 222
• 10. Opening Up: Liberalization with Stabilization / Michael Bruno(Hebrew University) = 223
• 1. Sequence of Liberalization Measures = 224
• 2. Liberalization of Trade = 230
• 3. Liberalization of Financial Markets = 237
• 4. Stabilization from High Inflation = 239
• Selected Bibliography = 246
• Notes = 247
• 11. Policymaking and Economic Policy in Small Developing Countries / Arnold C. Harberger(University of California, Los Angeles, and University of Chicago) = 249
• 1. Some Simple Demographic Facts = 250
• 2. Demography's Hidden Curse = 251
• 3. Professionalism = 254
• 4. The Lessons of Experience = 256
• Notes = 263
• Part Ⅱ. Country Studies
• 12. Argentina / Domingo F. Cavallo ; Fundaci$$\acute o$$n Mediterranea = 267
• 1. Foreign Terms of Trade and Commercial Policies = 271
• 2. Short-Term Cycles and the External Sector = 275
• 3. The Real Exchange Rate for Exports = 277
• 4. Speculation and Hyperinflation = 282
• Notes = 283
• 13. Brazil / Mario Henrique Simonsen ; Funda$$\varsigma $$$$\tilde a$$o Get$$\acute u$$lio Vargas = 285
• 1. From Coffee Valorization to External Debt = 285
• 2. Indexation Issues = 288
• 3. Balance of Payments Policies = 295
• 4. Conclusions = 304
• Selected Bibliography = 306
• 14. Indonesia / Malcolm Gillis ; David Dapice ; Duke University = 307
• 1. Historical Overview = 307
• 2. A Tale of Three Devaluations = 317
• 3. Trade Policy = 324
• 4. Conclusions = 328
• Appendix. The Real Exchange Rate and the Index of International Competitiveness = 329
• Notes = 333
• 15. Korea / Yung-Chul Park(Korea University) = 336
• 1. Exports as an Engine of Growth = 337
• 2. Disadvantages of the Strategy = 341
• 3. Conclusions = 345
• Selected Bibliography = 346
• Notes = 347
• 16. Mexico / Eliana A. Cardoso(Fletcher School, Tufts University) ; Santiago Levy(Boston University) = 348
• 1. From 1935 to 1982 = 348
• 2. Industrialization and Trade Policy = 355
• 3. Exchange Rates from the Mid-1920s to 1982 = 358
• 4. Budget Deficits and Inflation = 362
• 5. Recent Policies = 364
• Selected Bibliography = 368
• Notes = 369
• Appendixes
• A. Sources of Current Data / Rudiger Dornbusch = 373
• B. National Accounting Identities / F. Leslie C. H. Helmers = 375
• 1. Gross Domestic Product and Gross National Product = 375
• 2. The Balance of Payments Equation = 380
• 3. Examples of the Basic Balance of Payments Equation = 384
• Notes = 390
• C. Real-Exchange-Rate Indexes / F. Leslie C. H. Helmers = 392
• D. Effective Protection / F. Leslie C. H. Helmers = 398
• Index = 405