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This book is a rigorous, yet nonmathematical analysis of key macroeconomic issues faced by emerging economies. The first part develops an analytical framework t
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The macroeconomic experience of emerging and developing economies has tended to be quite different from that of industrial countries. Compared to industrial cou
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Macroeconomic policies matter for sustainable long-term growth. With global fluctuations, deviation from a stable growth path can be minimized by countercyclica