Open-Economy Macroeconomics for Developing Countries (Elgar Textbooks)

`The teaching of macroeconomics has had to change in recent years to take account of the ever-increasing integration of the world economy, with countries more open to foreign investment and capital flows, and vulnerable to exchange rate movements and capital flight. Hossain and Chowdhury have written an exciting new macro-text for the 21st century reflecting these issues, which will be invaluable to teachers and students world-wide.' -- A.P. Thirlwall, University of Kent at Canterbury, UK `Hossain and Chowdhury have produced a thoughtful, informative and well-written introduction to macroeconomic theory and policy for developing countries. Their book should be a welcome complement to some of the more comprehensive economic development textbooks now being used, especially for advanced undergraduate and graduate economics students.' -- Michael P. Todaro, New York University and Research Division of The Population Council, New York, US `The book by Hossain and Chowdhury deals with an important subject, namely the adjustment and policy problems faced by developing countries in the fiscal, monetary and macroeconomic sectors in a global economy. The authors explain in a straightforward and balanced way the opportunities, particularly for smaller developing countries, arising from increasing interdependence with global markets, as well as their vulnerability with regard to external shocks and volatility of capital flows. This is done with a minimum use of highly technical mathematics so that this book should be highly accessible to students and the general reader. The book fills a definite gap in the development literature - to the best of my knowledge nothing serving quite the same purpose exists at the moment.' -- H.W. Singer, University of Sussex, UK