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Stability with Growth – Macroeconomics, Liberalization and Development - Oxford Scholarship Online
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Stability with Growth: Macroeconomics, Liberalization and Development

Joseph Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar


This book discusses the current debates on macroeconomics, capital market liberalization, and development, and develops a new framework within which one can assess alternative policies. The authors share the belief that the Washington consensus has advocated for narrow goals for development (with a focus on price stability), prescribed too few policy instruments (emphasizing monetary and fiscal policies), and places unwarranted faith in the role of markets. The new framework focuses on real stability and long-term sustainable and equitable growth, offers a variety of non-standard ways to stabi ... More

Keywords: Washington consensus, capital market liberalization, price stability, inflation, monetary policy, fiscal policy, equity, poverty

Bibliographic Information

Print publication date: 2006 Print ISBN-13: 9780199288144
Published to Oxford Scholarship Online: September 2006 DOI:10.1093/0199288143.001.0001


Affiliations are at time of print publication.

Joseph Stiglitz, author
President, Initiative for Policy Dialogue (IPD)
Author Webpage

José Antonio Ocampo, author
United Nations Under-Secretary-General for Economic and Social Affairs
Author Webpage

Shari Spiegel, author
Managing Director, Initiative for Policy Dialogue (IPD)