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OverviewFull Product DetailsAuthor: Brian Pinto (Chief Economist, Emerging Markets, Chief Economist, Emerging Markets, GLG Partners LP)Publisher: Oxford University Press Imprint: Oxford University Press Dimensions: Width: 16.20cm , Height: 2.20cm , Length: 23.50cm Weight: 0.540kg ISBN: 9780198714675ISBN 10: 019871467 Pages: 270 Publication Date: 18 September 2014 Audience: College/higher education , Professional and scholarly , Tertiary & Higher Education , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Table of Contents1: Country Economics is Different Part One: What Do We Tell Policymakers About Growth? 2: Growth Theory from the Prism of Policy 3: In Search of a Growth Policy Package Part Two: Country Stories 4: Why Poland Beat the Odds 5: Kenya's Achilles' Heel 6: India's Unanticipated Growth Take-off 7: Russia Rewrites the Book Part Three: Policy Debates and Lessons 8: Emerging market Crises of the Last Decade: A Watershed 9: Self-Insurance and Self-Financed Growth 10: Lessons for Low-Income Countries Annexes 1: Key Features of Neoclassical Growth 2: Assessing Government Debt Sustainability 3: The Russian and Argentine Debt Swaps 4: Three Generations of Crisis Models 5: The Sovereign Debt Restructuring Mechanism (SDRM) 6: IMF's Flexible Credit LineReviewsEndorsements from Philippe Aghion, Olivier Blanchard, Gene Grossman, Robert E. Lucas, Jr., Ngozi Okonjo-Iweala and Robert J. Shiller follow I have followed Brian Pintos economic work since his days in Poland in the early 1990s. His fascinating book takes us on a trip that starts in Poland at the outset of its transition, and then continues in Russia before its 1998 financial crisis, before bringing us to India ten years after its sweeping reforms were implemented, and finally to Kenya during its improving economic performance prior to the 2007 elections. In this journey, a growth policy trio repeatedly pops up: the combination of hard budget constraints, market competition and competitive exchange rates. Competition, competitive exchange rates and hard budget constraints force firms to innovate in order to survive. Firms dynamism generates growth and tax revenues that place government debt on a sustainable path. And this in turn lowers interest rates which further encourages firms innovative investments Philippe Aghion, Robert C. Waggoner Professor of Economics, Harvard University Through these lenses, the book revisits the recent history of developing and emerging market economies and points to misdiagnoses from academics or international financial institutions involved in policy advice to these countries. I strongly recommend this insightful book to researchers or policy makers interested in growth and development. Philippe Aghion, Robert C. Waggoner Professor of Economics, Harvard University This is a special and rare book, which builds on Brian Pinto's deep experience. It shows how one uses theory, country knowledge, and practice, to analyze the world and make policy recommendations. It is a pleasure to read; the style is relaxed and clear, and the boxes are good. Olivier Blanchard, Economic Counsellor and Director of the Research Department, IMF Brian Pinto brings a unique combination of passion, personality, knowledge of the latest economics research, and good common sense to his vibrant discussion of the interaction between sovereign debt and economic growth. He draws on personal experience from his work at the World Bank on Kenya, Poland, India and Russia to formulate broader policy lessons about critical issues that arise repeatedly in emerging market countries. The exposition is refreshing and insightful, and it makes the practical implications of economic research come to life. Gene Grossman, Jacob Viner Professor of International Economics, Princeton University Brian Pinto is that rare economist who is abreast of theoretical research on economic growth and has also participated in policy design and implementation during crucial periods in several countries. This account of his experiences from his long career with the World Bank will be of interest to everyone who thinks about economic growth. Robert E. Lucas, Jr., The John Dewey Distinguished Service Professor in Economics, University of Chicago, 1995 Nobel Prize in Economics Brian Pinto brings country economic policy to life and shows what it means to practise it. The stories in his insightful book resonate very strongly with me as a practitioner on the ground. His analysis of the linkages between growth and sovereign debt is spot-on. Brian was one of the best economists I worked with at the World Bank-and this book is a fun read too! Ngozi Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance, Nigeria, and former Managing Director, The World Bank Pinto argues that 'country economics' is in effect a separate branch of economics. Economic theory and the 'conventional wisdom' offer only starting points. He succeeds admirably in offering insights about what drives the growth experiences of developing countries, and points out the perils of conclusions drawn hastily from afar. Understanding the linkages between a country's sovereign debt dynamics and its microfoundations of growth is the core of his investigation. Robert J. Shiller, Arthur M. Okun Professor of Economics, Yale University, 2013 Nobel Prize in Economics important contribution to the understanding of economic development * Richard N. Cooper, Foreign Affairs * anybody with more than a passing interest in development will find it absorbing and learn a lot. * Clive Crook, Bloomberg * this is an engaging, well-written volume not to be missed. * A. R. Sanderson, University of Chicago * Pinto argues that 'country economics' is in effect a separate branch of economics. Economic theory and the 'conventional wisdom' offer only starting points. He succeeds admirably in offering insights about what drives the growth experiences of developing countries, and points out the perils of conclusions drawn hastily from afar. Understanding the linkages between a country's sovereign debt dynamics and its microfoundations of growth is the core of his investigation. * Robert J. Shiller, Arthur M. Okun Professor of Economics, Yale University, 2013 Nobel Prize in Economics * Brian Pinto brings country economic policy to life and shows what it means to practise it. The stories in his insightful book resonate very strongly with me as a practitioner on the ground. His analysis of the linkages between growth and sovereign debt is spot-on. Brian was one of the best economists I worked with at the World Bank-and this book is a fun read too! * Ngozi Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance, Nigeria, and former Managing Director, The World Bank * Brian Pinto is that rare economist who is abreast of theoretical research on economic growth and has also participated in policy design and implementation during crucial periods in several countries. This account of his experiences from his long career with the World Bank will be of interest to everyone who thinks about economic growth. * Robert E. Lucas, Jr., The John Dewey Distinguished Service Professor in Economics, University of Chicago, 1995 Nobel Prize in Economics * Brian Pinto brings a unique combination of passion, personality, knowledge of the latest economics research, and good common sense to his vibrant discussion of the interaction between sovereign debt and economic growth. He draws on personal experience from his work at the World Bank on Kenya, Poland, India and Russia to formulate broader policy lessons about critical issues that arise repeatedly in emerging market countries. The exposition is refreshing and insightful, and it makes the practical implications of economic research come to life. * Gene Grossman, Jacob Viner Professor of International Economics, Princeton University * This is a special and rare book, which builds on Brian Pinto's deep experience. It shows how one uses theory, country knowledge, and practice, to analyze the world and make policy recommendations. It is a pleasure to read; the style is relaxed and clear, and the boxes are good. * Olivier Blanchard, Economic Counsellor and Director of the Research Department, IMF * Brian Pinto's fascinating book starts in Poland at the outset of its transition, and then continues to Russia before its 1998 financial crisis, before bringing us to India ten years after its sweeping reforms were implemented, and finally to Kenya during its improving economic performance prior to the 2007 elections. Through these countries' stories, the book revisits the recent history of developing and emerging market economies and points to the essential elements of a pragmatic growth policy package for developing countries. I strongly recommend this insightful book to researchers and policy makers interested in growth and development. * Philippe Aghion, Robert C. Waggoner Professor of Economics, Harvard University * Reading Brian Pintos book,How Does My Country Grow? Economic Advice through Storytelling, is refreshing. * Shantayanan Devarajan, Economic and Political Weekly * In spite of its playful title and easy-on-readers subtitle, economist Pintos brief book is a sophisticated, engaging odyssey on economic growth and development. Laden with equations, figures, tables, boxes, annexes (appendixes), notes, and 20 pages of references and index, the book is an authoritative complement to more abstract, theoretical treatments of economic growth. * A. R. Sanderson, University of Chicago, Western Michigan University, CHOICE * Author InformationBrian Pinto is Chief Economist, Emerging Markets, at GLG Partners LP. Previously, he worked at the World Bank for almost 30 years, where his focus was predominantly on transition economics, sovereign debt, and economic growth. He lived in Poland at the start of its momentous reforms (1990-92) as well as in Russia, witnessing first-hand its 1998 crisis and subsequent recovery (1998-2001). His publications, inspired by live country experiences, have appeared in the Brookings Papers on Economic Activity, the Economic Journal, Journal of International Economics, The Review of Economic Studies, and other professional journals. A book he edited jointly with Joshua Aizenman, Managing Economic Volatility and Crises: A Practitioner's Guide, was published by Cambridge University Press in 2005. Brian holds a PhD in Economics from the University of Pennsylvania and degrees from the Indian Institute of Management, Ahmedabad, and Loyola College, Madras University, India. Tab Content 6Author Website:Countries AvailableAll regions |
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