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The Macroeconomy of Central America

by Robert Rennhack Erik Offerdal

Opportunities for growth and investment in Central America could well improve in the coming years, as the region's ties with the world economy grow closer. This integration, however, also presents important challenges for economic policy to ensure that growth can be sustained and can benefit the poor. This book stresses the importance of keeping fiscal policy on a sustainable path, strengthening public investment in basic infrastructure and primary health care and primary and secondary education, and managing the risks associated with partial dollarization.

Reinvigorating Growth in Developing Countries

by Sharmini Coorey Mauro Mecagni Jianping Zhou Kalpana Kochhar Louis Dicks-Mireaux Balazs Horvath David Goldsbrough Erik Offerdal

This study examines the links between adjustment policies and growth in a small group of developing countries- Bangladesh, Chile, Ghana, India, Mexico, Morocco, Senegal, and Thailand - during 1970 -93. It provides an overview of the adjustment and growth experience, examines in depth several policy issues of particular interest, and distills the principal policy lessons for the design of adjustment policies.

Thailand The Road to Sustained Growth

by Mauro Mecagni Jianping Zhou Kalpana Kochhar Louis Dicks-Mireaux Balazs Horvath Erik Offerdal

Since the mid-1960s, Thailand's growth performance has been exceptional. Although hard hit by the external shocks fo the late 1970s and the early 1980s that proved severely destabilizing to many developing countries, Thailand showed remarkable reslience: price stability was quickly restored, and the Thai economy emerged from this period with strong recovery in growth and investment, in an environment of overall macroeconomic stability. This study examines the evolution of investment and growth and Thailand's macroeconomic and structural policies, with a view to understanding the main factors that have led to this impressive economic performance.

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