Beyond Macroeconomic Stability

1. Front Matter

   Pages i-xiv

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2. Introduction

   1. Introduction

      • Iyanatul Islam, David Kucera

      Pages 1-28

3. Limits of the Conventional Macroeconomic Policy Framework

   1. Front Matter

      Pages 29-29

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   2. Dispensing Macroeconomic Policy Advice to Developing Countries: The IMF’s Article IV Consultations

      • Iyanatul Islam, Ishraq Ahmed, Rathin Roy, Raquel Ramos

      Pages 31-71

   3. Fiscal Consolidation: Issues and Evidence

      • Anis Chowdhury, Iyanatul Islam

      Pages 72-97

   4. Should Developing Countries Target Low, Single-Digit Inflation to Promote Growth and Employment?

      • Sarah Anwar, Iyanatul Islam

      Pages 98-130

4. Structural Transformation and the Development of Capabilities

   1. Front Matter

      Pages 131-131

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   2. Structure Matters: Sectoral Drivers of Growth and the Labour Productivity-Employment Relationship

      • David Kucera, Leanne Roncolato

      Pages 133-197

   3. Creating Productive Capacities, Employment and Capabilities for Development: The Case of Infrastructure Investment

      • Irmgard Nübler, Christoph Ernst

      Pages 198-227

   4. Investing in People: Extending Social Security through National Social Protection Floors

      • Christina Behrendt

      Pages 228-259

5. Inequality, Wages and their Macroeconomic Consequences

   1. Front Matter

      Pages 261-261

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   2. Wages and Growth in Open Economies: A Policy Dilemma?

      • Massimiliano La Marca, Sangheon Lee

      Pages 263-287

   3. Keeping up with the Joneses or Keeping One’s Head above Water? Inequality and the Post-2007 Crisis

      • David Kucera, Rossana Galli, Fares Al-Hussami

      Pages 288-325

6. Back Matter

   Pages 326-342

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This volume goes beyond a narrow conceptualization of macroeconomic stability and explores the link between socio-economic policies, structural transformation and inclusive development. It rests on three thematic pillars: the limits of conventional macroeconomics; the long run agenda of structural transformation and the development of capabilities.

• Developing Countries
• development
• economic policy
• employment
• employment relations
• growth
• labour
• productivity
• social security

• University of Cambridge, UK

  Iyanatul Islam

• New School for Social Research, USA

  David Kucera

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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