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Attaining the Millennium Development Goals: the role of macroeconomic policies

Author

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  • Anis Chowdhury
  • Iyanatul Islam

Abstract

Purpose - The purpose of this paper is to shed some light on the role of macroeconomic policy‐mix in achieving the Millennium Development Goals (MDGs), especially the goal of poverty reduction. Design/methodology/approach - The paper employs descriptive approach and provides an analytical narrative of historical experience. Findings - It is argued that macroeconomic policy‐mixes pursued by many developing countries as part of conditions to receive support from international financial institutions and the donor community have been largely restrictive. They have failed, in most cases, to generate high enough growth to have significant impacts on poverty reduction. The poverty reducing impact of growth has also been weakened by the rise in inequality due to associated policy reforms promoting market liberalization and deregulation. Practical implications - The paper argues in favor of using full and productive employment, which is one of the core MDGs, as the goal of macroeconomic policies. Originality/value - The paper argues that there should be refocusing of macroeconomic policies to align with MDGs.

Suggested Citation

  • Anis Chowdhury & Iyanatul Islam, 2011. "Attaining the Millennium Development Goals: the role of macroeconomic policies," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 38(12), pages 930-952, October.
  • Handle: RePEc:eme:ijsepp:v:38:y:2011:i:12:p:930-952
    DOI: 10.1108/03068291111176301
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    References listed on IDEAS

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    1. Ramey, Garey & Ramey, Valerie A, 1995. "Cross-Country Evidence on the Link between Volatility and Growth," American Economic Review, American Economic Association, vol. 85(5), pages 1138-1151, December.
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    Citations

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    Cited by:

    1. Muhammad Rizwan Kamran & Zheng Zhao, 2016. "Millennium & Financial Development Goals: Economic Indicators Perspective Of South Asian Countries," International Journal of Humanities, Arts and Social Sciences, Dr. Mohammad Hamad Al-khresheh, vol. 2(4), pages 133-151.
    2. Zafar Hayat & Saher Masood, 2022. "Inflation Targeting Skepticism: Myth or Reality? A Way Forward for Pakistan (Article)," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 61(1), pages 1-27.

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