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The Economics of Adjustment and Growth

The Economics of Adjustment and Growth

Second Edition

Pierre-Richard Agénor

ISBN 9780674015784

Publication date: 09/30/2004

This book provides a systematic and coherent framework for understanding the interactions between the micro and macro dimensions of economic adjustment policies; that is, it explores short-run macroeconomic management and structural adjustment policies aimed at promoting economic growth. It emphasizes the importance of structural microeconomic characteristics in the transmission of policy shocks and the response of the economy to adjustment policies. It has particular relevance to the economics of developing countries.

The book is directed to economists interested in an overview of the economics of reform; economists in international organizations, such as the UN, the IMF, and the World Bank, dealing with development; and economists in developing countries. It is also a text for advanced undergraduate students pursuing a degree in economic policy and management and students in political science and public policy.


  • 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.

    —Joshua Aizenman, Professor of Economics, University of California at Santa Cruz


  • Pierre-Richard Agénor is Hallsworth Professor of International Macroeconomics and Development Economics in the School of Social Sciences, and Co-Director of the Centre for Growth and Business Cycle Research, at the University of Manchester. His research interests include international macroeconomics, development economics, and growth theory.

Book Details

  • 784 pages
  • 6-3/8 x 9-1/4 inches
  • Harvard University Press