The Economics of Adjustment and Growth is an exciting book, focusing on the challenges facing researchers and policymakers in the design and implementation of macroeconomic policies in developing countries. The book is very well written, with a nice balance between a clear exposition of models and an overview of their empirical applications. It summarizes the current state of knowledge and recent experience with policies. I highly recommended it to advanced undergraduate and graduate students interested in applied policy issues, as well as practitioners interested in gaining insight into current models and applications.

Richard Agénor's book provides an excellent and comprehensive analysis of macroeconomic and structural policy issues that are highly relevant for developing countries. Its rigorous, yet intuitive, treatment makes it particularly suitable for postgraduate programmes in development macroeconomics or development finance. It is also well suited for advanced macroeconomic courses that have a development or growth focus, as well as being an excellent up-to-date reference source for policymakers in developing countries.

This book brings together recent theory and fresh empirical evidence on all relevant dimensions of economic adjustment and growth. Drawing from the research frontier and the results and insights of worldwide policy experience, it presents a unified treatment in a rigorous but accessible form. Richard Agénor's new book is a primer for academic economists, policymakers, economic analysts, and students in the fields of macroeconomics, development economics, and international finance, both at undergraduate and graduate levels.