How Does My Country Grow?: Economic Advice Through Story-Telling

Hardcover | October 16, 2014

byBrian Pinto

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Written by a former World Bank economist, How Does My Country Grow? distils growth policy lessons from the author's first-hand experience in Poland, Kenya, India, and Russia, and his contributions to the economic policy debates that followed the emerging market crises of 1997 to 2001,extending up to the global financial crisis of 2008-09. Based on living and working in the trenches, the author argues that country economic analysis is in effect a separate, integrative branch of economics that draws upon but is distinct from academic economics. The country stories recounted, reinforced by the emerging market experience since the 1980s,point to a canonical growth policy package built around three interconnected elements: the intertemporal budget constraint of the government; the micropolicy trio of hard budgets, competition and competitive real exchange rates; and managing volatility from external, but especially domestic,sources. This package is underpinned by good governance, which finds its most immediate expression in the management of the public finances. While the discussion is tilted towards developing countries, the insights have considerable relevance for advanced economies, many of which today are in thethroes of their own growth-cum-sovereign debt crises.

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Written by a former World Bank economist, How Does My Country Grow? distils growth policy lessons from the author's first-hand experience in Poland, Kenya, India, and Russia, and his contributions to the economic policy debates that followed the emerging market crises of 1997 to 2001,extending up to the global financial crisis of 2008-...

Brian Pinto is Chief Economist, Emerging Markets, at GLG Partners LP. Previously, he worked at the World Bank for almost 30 years, where his focus was predominantly on transition economics, sovereign debt, and economic growth. He lived in Poland at the start of its momentous reforms (1990-92) as well as in Russia, witnessing first-hand...
Format:HardcoverDimensions:256 pages, 9.21 × 6.14 × 0.1 inPublished:October 16, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019871467X

ISBN - 13:9780198714675

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Table of Contents

1. Country Economics is DifferentPart One: What Do We Tell Policymakers About Growth?2. Growth Theory from the Prism of Policy3. In Search of a Growth Policy PackagePart Two: Country Stories4. Why Poland Beat the Odds5. Kenya's Achilles' Heel6. India's Unanticipated Growth Take-off7. Russia Rewrites the BookPart Three: Policy Debates and Lessons8. Emerging market Crises of the Last Decade: A Watershed9. Self-Insurance and Self-Financed Growth10. Lessons for Low-Income CountriesAnnexes1. Key Features of Neoclassical Growth2. Assessing Government Debt Sustainability3. The Russian and Argentine Debt Swaps4. Three Generations of Crisis Models5. The Sovereign Debt Restructuring Mechanism (SDRM)6. IMF's Flexible Credit Line