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Palgrave Macmillan

Beyond Macroeconomic Stability

Structural Transformation and Inclusive Development

ISBN 9781137379245
Publication Date December 2013
Formats Hardcover Ebook (EPUB) Ebook (PDF) 
Publisher Palgrave Macmillan, International Labour Organization (Co-publisher)
Series Advances in Labour Studies

This volume rests on three thematic pillars: the limits of conventional macroeconomics; the long-run agenda of structural transformation and the development of capabilities. Islam and Kucera highlight the tenuous links of conventional macroeconomics with core development concerns. The chapters of this book enunciate an empirical approach to track the various sources of structural transformation and nurture the thesis that investment in infrastructure leads to the inculcation of capabilities, broadly defined to include knowledge accumulation, dissemination and application.

The editors reinterpret social protection from the perspective of inclusive development and structural transformation. The volume examines secular trends in the functional distribution of income and explores their possible macroeconomic consequences by developing a two-country macroeconomic model for open economies. It seeks to establish whether growing inequality in many countries combined with stagnant real incomes is one of the sources of the global and financial crisis of 2007-2009.

Iyanatul Islam is currently Chief of the Country Employment Policy Unit at the International Labour Office, Geneva. He holds a PhD degree from the University of Cambridge, UK. He is the co-author of more than 100 publications consisting of refereed journal articles, books and edited volumes, book chapters, working papers, and policy reports. He is one of the founding editors of the Journal of Asia-Pacific Economy.
David Kucera received a PhD in Economics from the New School for Social Research and has worked as a research economist at the International Labour Office since 2000. He is the author of Gender, Growth and Trade: The Miracle Economies of the Postwar Years and is an Associate Editor of Feminist Economics.

1. Introduction; Iyanatul Islam and David Kucera
Part I: Limits Of The Conventional Macroeconomic Policy Framework
2. Dispensing Macroeconomic Policy Advice to Developing Countries: The IMF's Article IV Consultations; Iyanatul Islam, Ishraq Ahmed, Rathin Roy and Raquel Ramos
3. Fiscal Consolidation: Issues and evidence; Anis Chowdury and Iyanatul Islam
4. Should Developing Countries Target Low, Single Digit Inflation?; Sarah Anwar and Iyanatul Islam
Part II: STRUCTURAL TRANSFORMATION AND THE DEVELOPMENT OF CAPABILITIES
5. Structure Matters: Sectoral Drivers of Development and the Labour Productivity-Employment Relationship; David Kucera and Leanne Roncolato
6. Creating Productive Capacities, Employment and Capabilities for Development: The Case of Infrastructure Investment; Irmgard Nübler and Christoph Ernst
7. Investing in People: Extending Social Security through National Social Protection Floors; Christina Behrendt
PART III: INEQUALITY, WAGES AND THEIR MACROECONOMIC CONSEQUENCES
8. Wages and Growth in Open Economics: A Policy Dilemma?; Massimiliano La Marca and Sangheon Lee
9. Keeping Up With the Joneses Or Keeping One's Head Above Water? Inequality and the Post-2007 Crisis; David Kucera, Rossana Galli and Fares Al-Hussami




Iyanatul Islam is currently Chief, Country Employment Policy Unit, International Labour Office, Geneva.

David Kucera, Research Economist, International Labour Office

Ishraq Ahmed completed his Masters in Economics and Development Economics from the University of Nottingham, UK

Rathin Roy, Economic Advisor to the Finance Commission, India

Raquel Ramos is currently a PhD research student at Université Paris 13 Nord, and a Macroeconomist at UNDP, International Policy Centre for Inclusive Growth

Anis Chowdhury, School of Economics and Finance, University of Western Sydney, Australia

Sarah Anwar is currently a Project Manager at Diversity Group

Leanne Roncolato, American University,USA

Irmgard Nübler is a Coordinator for the Industrial Policies and Employment Programme at the International Labour Organization (ILO)

Christoph Ernst is affiliated with the International Labour Organization (ILO)

Christina Behrendt is a Social Policy Specialist at the International Labour Organization (ILO)

Massimiliano La Marca is an Economic Policy Specialist at the International Labour Organization (ILO). He previously worked as an Economist for UNCTAD

Sangheon Lee is a Research and Policy Coordinator for the Conditions of Work and Employment Programme at the International Labour Office (ILO)

Rossana Galli is affiliated with Birkbeck College, University of London, UK

Fares Al-Hussami is a Junior Economist/Policy Analyst at the OECD

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