Multiannual Macroeconomic Programming Techniques for Developing Economies - Hardcover

Beckerman Paul

Hardcover

ISBN 10: 9814289027 ISBN 13: 9789814289023

Publisher: World Scientific Publishing, 2010

Synopsis

This book describes practical techniques to formulate multiannual macroeconomic projections for developing economies. The approach is broadly similar to that of well-known financial-programming models, but some of the material, including solution procedures for the external and fiscal projections and the external-debt projection methodology, is innovative. The basic aim of macroeconomic programming exercises is to determine whether a quantitatively specified macroeconomic and government-expenditure policy program would be financially feasible - that is, consistent over time with external and internal financing likely to be available. Exercises of the kind described here formulate national-, external-, fiscal-, and monetary-accounts projections, based on: assumed behavioral parameters; assumed exogenous world conditions and internal variables; programmed macroeconomic objectives such as real growth, inflation, and exchange-rate evolution; programmed real government expenditure; an external-debt program; and, data for the base year preceding the projection period. The projections include estimates of the external and internal financing the public sector and economy as a whole would require, which may be evaluated for feasibility. Among other applications, macroeconomic programming exercises may be used to help gauge the financial feasibility of development and poverty-reduction objectives (like the UN Millennium Development Goals), or to address external-debt sustainability.

About this title

From the Back Cover

This book describes practical techniques to formulate multiannual macroeconomic projections for developing economies. The approach is broadly similar to that of well-known financial-programming "models," but some of the material, including solution procedures for the external and fiscal projections and the external-debt projection methodology, is innovative. The basic aim of macroeconomic programming exercises is to determine whether a quantitatively specified macroeconomic and government-expenditure policy program would be "financially feasible" that is, consistent over time with external and internal financing likely to be available. Exercises of the kind described here formulate national-, external-, fiscal-, and monetary-accounts projections, based on (i) assumed behavioral parameters; (ii) assumed "exogenous" world conditions and internal variables; (iii) programmed macroeconomic objectives such as real growth, inflation, and exchange-rate evolution; (iv) programmed real government expenditure; (v) an external-debt program; and (vi) data for the "base" year preceding the projection period. The projections include estimates of the external and internal financing the public sector and economy as a whole would require, which may be evaluated for feasibility. Among other applications, macroeconomic programming exercises may be used to help gauge the financial feasibility of development and poverty-reduction objectives (like the UN Millennium Development Goals), or to address external-debt "sustainability."

Edition details

• Publisher: World Scientific Publishing
• Publication date: 2010
• Language: English
• ISBN 10: 9814289027
• ISBN 13: 9789814289023
• Binding: Hardcover
• Number of pages: 452