An examination of financial transition through the lens of flow of funds accounts. These accounts have been used in the OECD countries for many years as an aid in analyzing money flows around their financial systems. The book reviews the evolution of financial systems in eight transition countries: Estonia, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Russia and Romania. Each chapter draws upon a flow of funds analysis to illuminate the relationship between macroeconomic performance and the evolving pattern of financial flows through the emerging markets and institutions. The introductory...

The 2008-09 Global Finanical Crisis shook the ground under the conventional wisdom that had guided mainstream development economics. Much of what had been held as true for decades is now open to reexamination--from what the role of governments should be in markets to which countries will be the engines of the world's economy, from what people need to leave poverty to what businesses need to stay competitive. Development economists look into the future. They do not just ask how things work today, but how a new policy, program, or project would make them work tomorrow. They view the world and...

There is much discussion about global poverty and the billions of people living with almost nothing. Why is it that governments, development banks, think-tanks, academics, NGOs and many others can't just fix the problem? Why is it that seemingly obvious reforms never happen? Why are prosperity and equity so elusive? Is the current backlash against globalization another show-stopper?

The revised second edition of Economic Development: What Everyone Needs to Know(R) brings readers right into the trenches of development policies to show what practitioners are actually doing and...