Macroeconomic Policy for Growth and Poverty Reduction: An Application to Post-Conflict and Resource-Rich Countries

Degol Hailu and John Weeks

Working Papers from United Nations, Department of Economics and Social Affairs

Abstract: A fundamental shift in macroeconomic policy thinking is taking place. This shift opens a space for implementing policies that promote growth and reduce poverty in developing countries. In this paper, policies for post-conflict and resource-rich economies are outlined. Fiscal policy would focus on revenue mobilization, scaling-up public investment, and preventing over-heating. Monetary policies would revive the financial sector, prevent inflationary pressures and stimulate private sector investment. Exchange rate policies should focus on achieving slow depreciation and maintaining international competitiveness. These policies should not be considered in isolation from each other, but in coordination.

Keywords: Macroeconomics; fiscal policy; monetary policy; exchange rate policy; conflict; natural resources; economic development; heterodox economics (search for similar items in EconPapers)
JEL-codes: B50 D74 E5 E6 H3 O23 Q32 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2011-07
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:une:wpaper:108

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