Macroeconomic adjustment

Davis, Jeffrey M.

In this context Fund-supported adjustment programs seek to restore economic growth, while bringing about a balance of payuments position that is sustainable in the medium term. Achievement of these objectives requires coordinated use of a variety of policy measures. These include: (a) demand management policies, particularly monetary and fiscal measures; (b) exchange rate policies; (c) external debt management policies; and (d) structural policies affecting capacity utilization and productive potential. This book which has been used in selected IMF Institute courses, provide an introductory review of some of the policy issues in each of these areas. In particular, successive chapters review issues relating to monetary, fiscal, exhcnage rate, trade, external debt, and supply-oriented policies.

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