ABOUT THE BOOK
Recent years have seen a rapid opening up and integration of developing countries into the world economy to a degree unprecedented in modern history. This has brought benefits in several areas, particularly through international trade and investment, even though their incidence varied among and within countries. But it is also true that rapid liberalisation and integration have caused dislocations in the developing world, particularly among the poor and unprivileged.
While these changes have placed a growing demand on policy makers and called for greater flexibility in the policy-making process, many of the traditional instruments of development and macroeconomic policy have become ineffective or simply unavailable because of a proliferation of international rules, obligations and practices. Consequently questions have been raised about whether such constraints over national economic policy are compatible with development, including the capacity to foster conditions for steady, quality employment growth. This paper deals with this issue.
ABOUT THE AUTHOR
YILMAZ AKYüZ was the Director of the Division on Globalisation
and Development Strategies and Chief Economist at UNCTAD until his retirement
in August 2003. He was the principal author and head of the team preparing
the UNCTAD Trade and Development Report, and UNCTAD coordinator
of research support to developing countries (the Group of 24) in the
IMF and the World Bank on international monetary and financial issues.
Before joining UNCTAD in 1984 he taught at various universities in
2. GLOBAL ECONOMIC INTEGRATION AND POLICY SPACE
3. MULTILATERAL DISCIPLINES AND DEVELOPMENT POLICY
Transfer of Technology
4. FINANCE AND MACROECONOMIC POLICY
Capital Account Liberalisation and Monetary Policy
Public Finance, Debt and Fiscal Policy
Aid and Macroeconomic Policy
Impact on Growth and Development
Space for Autonomous National Policy
Reform of the International Monetary and Financial System
(a) Capital account measures
(b) Policy surveillance
(c) Official financing
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