Over the 1990s macroeconomic policies improved in most developing countries, but the growth dividend from this improvement fell short of expectations, and a policy agenda focused on stability turned out to be associated with a multiplicity of financial crises. This article examines the contents and implementation of the macroeconomic reform agenda of the 1990s. It reviews the progress achieved through fiscal, monetary, and exchange rate policies across...
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2006/08/09
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76764
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2013/04/17
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Disclosed
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Macroeconomic stability in developing countries : how much is enough?
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Macroeconomic Stability