Pro-Poor Macroeconomics

1. Front Matter

   Pages i-xix

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2. Overview and Poverty Impact of Main Macroeconomic Policies

   1. Front Matter

      Pages 1-1

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   2. Potential and Limitations of Pro-Poor Macroeconomics: An Overview

      • Giovanni Andrea Cornia

      Pages 3-26

   3. Pro-Poor Fiscal Policy in the Globalized Economy

      • Raghbendra Jha

      Pages 27-48

   4. Can Monetary Approaches to Stabilization Be Pro-Poor?

      • Sheetal K. Chand

      Pages 49-74

   5. Exchange Rate Regimes for Development and Poverty Alleviation

      • Giovanni Andrea Cornia

      Pages 75-96

   6. Portfolio Flows, Macroeconomic Policy and Global Poverty

      • Christian E. Weller, Radha Chaurushiya

      Pages 97-118

   7. The Effects of FDI on Growth and Inequality

      • Chiara Bonassi, Giorgia Giovannetti, Giorgio Ricchiuti

      Pages 119-143

   8. Safety Nets for the Poor: A Missing International Dimension?

      • Sanjay G. Reddy

      Pages 144-165

3. Country Case Studies

   1. Front Matter

      Pages 167-167

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   2. Financial and Trade Reforms and Impact on Poverty and Income Inequality: The Case of Mauritius

      • Sunil Kumar Bundoo

      Pages 169-192

   3. Macroeconomic Policy, Growth, Redistribution and Poverty Reduction: the Case of Malaysia

      • Wee Chong Hui, K. S. Jomo

      Pages 193-216

   4. The Search for Macroeconomic Stability and Growth under Persistent Inequality: The Case of Chile

      • Andrés Solimano, Molly Pollack

      Pages 217-247

   5. Macroeconomic Policy, Inequality and Poverty Reduction in Fast-Growing India and China

      • C. P. Chandrasekhar, Jayati Ghosh

      Pages 248-281

   6. Heterodox Macroeconomic Policies, Inequality and Poverty in Uzbekistan

      • Giovanni Andrea Cornia

      Pages 282-304

   7. Macroeconomic Policy and Pro-Poor Growth in a Dualistic Economy: The Case of Bolivia

      • Stephan Klasen

      Pages 305-325

   8. Has Macroeconomic Policy Been Pro-Poor in Brazil?

      • Jorge Saba Arbache

      Pages 326-348

4. Back Matter

   Pages 349-356

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This book tackles the disagreements that affect those looking to establish the macroeconomic policies needed to halve poverty over the next ten years. It presents a pro-poor macroeconomic policy allowing countries to recapture policy space, help promote growth, reduce inequality and diminish poverty in a sustainable way.

• development
• economic policy
• fiscal policy
• growth
• macroeconomics

'Macroeconomic management is of great importance for the poor, who tends to pay more in times of crisis and gain less in times of booms. This volume rightly avoids providing a recipe for all countries, stressing instead the importance of country context in choosing macro policies.' - François Bourguignon, Senior Vice President for Development Economics and Chief Economist, World Bank

'At long last, a solid professional analysis of the interrelationships between macroeconomic policies and poverty, not only in theory but also in practice. UNRISD and Cornia merit the policy community's thanks and congratulations. One must pray that finance ministries and the IMF will now learn from it.' - Gerry Helleiner, Professor Emeritus in Economics, University of Toronto, Canada, and Chairman, International Lawyers and Economists Against Poverty (ILEAP)

'Doing macroeconomics to help the poor is just about 180 degrees out of sync with current policy practice. This book will help turn the policy world in the right direction by describing how pro-poor macro policies should be designed. It merits careful study everywhere.' - Lance Taylor, Arnhold Professor of International Cooperation and Development, New School for Social Research, USA

'This wide-ranging volume explores both the potential as well as the limitations of current thinking around 'pro-poor macroeconomics'. It also underscores the crucial importance of grounding development, employment and poverty reduction policies in sustainable macroeconomic policy.' - José Antonio Ocampo, Under-Secretary-General for Economic and Social Affairs, United Nations

'The articles are firmly based in empirical evidence, which is refreshing...' - CAPSA Flash

• University of Florence, Italy

  Giovanni Andrea Cornia

JORGE SABA ARBACHE Senior Economist, Office of the Chief Economist, Africa Region, World Bank, USA CHIARA BONASSI Research Fellow, Italian Institute for Foreign Trade (ICE), Italy SUNIL KUMAR BUNDOO Senior Lecturer, University of Mauritius, Mauritius SHEETAL K. CHAND Visiting Researcher, Department of Economics, University of Oslo, Norway C. P. CHANDRASEKHAR Professor, Center for Economic Studies and Planning, Jawaharlal Nehru University, India RADHA CHAURUSHIYA Economic Policy Analyst, Center for American Progress, USA WEE CHONG HUI Lecturer in Economics, Universiti Teknologi MARA (UiTM), Malaysia GIORGIA GIOVANNETTI Professor of Economics, University of Florence, Italy JAYATI GHOSH Professor and Chair, Center for Economic Studies and Planning, Jawaharlal Nehru University, India RAGHBENDRA JHA Rajiv Gandhi Professor of South Asian Economics, Australia South Asia Research Centre, Australia STEPHAN KLASEN Professor of Development Economics, University of Göttingen, Germany JOMO K. S. Assistant Secretary-General for Economic Development, United Nations, USA MOLLY POLLACK Consultant, Chile SANJAY G. REDDY Assistant Professor of Economics, Columbia University, USA GIORGIO RICCHIUTI Researcher, University of Florence, Italy ANDRÉS SOLIMANO Regional Advisor, UN-ECLAC, Chile CHRISTIAN E. WELLER Senior Economist, Center for American Progress, USA