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Multiannual Macroeconomic Programming Techniques For Developing Economies:

  • Paul Beckerman

    (Independent Consultant, USA)

Registered author(s):

    This book describes practical techniques to formulate multiannual macroeconomic projections for developing economies. The approach is broadly similar to that of well-known financial-programming ¡°models¡±, but some of the material, including solution procedures for the external and fiscal projections and the external-debt projection methodology, is innovative. The basic aim of macroeconomic programming exercises is to determine whether a quantitatively specified macroeconomic and government-expenditure policy program would be ¡°financially feasible¡± ¡ª that is, consistent over time with external and internal financing likely to be available. Exercises of the kind described here formulate national-, external-, fiscal-, and monetary-accounts projections, based on (i) assumed behavioral parameters; (ii) assumed ¡°exogenous¡± world conditions and internal variables; (iii) programmed macroeconomic objectives such as real growth, inflation, and exchange-rate evolution; (iv) programmed real government expenditure; (v) an external-debt program; and (vi) data for the ¡°base¡± year preceding the projection period. The projections include estimates of the external and internal financing the public sector and economy as a whole would require, which may be evaluated for feasibility. Among other applications, macroeconomic programming exercises may be used to help gauge the financial feasibility of development and poverty-reduction objectives (like the UN Millennium Development Goals), or to address external-debt ¡°sustainability¡±.

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    File URL: http://www.worldscientific.com/worldscibooks/10.1142/7487
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    This book is provided by World Scientific Publishing Co. Pte. Ltd. in its series World Scientific Books with number 7487 and published in 2010.
    ISBN: 9789814289023
    Handle: RePEc:wsi:wsbook:7487
    Contact details of provider: Web page: http://ebooks.worldscinet.com/

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