Training Module IPC-IG
URI Permanente para esta coleçãohttps://repositorio.ipea.gov.br/handle/11058/17477
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Publicação Monetary Policy(2007) Filho, Alfredo SaadThis m odule outlines the basic principles ofpro-poor m onetary policy. Monetary policy refers essentially to the government’s regulation of the supply of money and the level of interest rates. These factors affect the level of economic activity, the com position of output, the structure of employment, the distribution of income and the direction of economic transfers. Monetary policy also influences fiscal policy (for example, the level of interest rates affects domestic public debt service), the balance of payments (the interest rates also influence the exchange rate and the level and direction of international capital flows) and the stability of the domestic financial system (the central bank is the regulator of financial institutions and the lender of last resort). Through these various channels, monetary policy affects the outcome of short-run stabilisation, and influences the policy remit of the state and the economic growth rate in the long run. Therefore, it can make an important contribution to a pro-poor development strategy. (...)Publicação Fiscal Policy(2007) Weeks, John; Patel, Shruti"This module outlines the basic principles of fiscal policy in order to provide a macro framework for the achievement of the Millennium Development Goal targets in 2015. The prevailing macroeconomic framework used by governments of developing countries is that derived from stabilisation and structural adjustment programmes, which focus on price stabilisation and static allocative efficiency. These programmes are characterised by theoretical ambiguities at several levels, and their basic assumptions are at variance with the realities of developing countries. (...)Publicação Financial Policy(2007) Epstein, Gerald; Grabel, IleneThis module describes the current state of knowledge with respect to pro-poor growth financial policies. These policies are presented as alternatives to what, we argue, are the failed financial policies inspired by orthodox economics. Orthodox financial policies, also known as ‘Washington Consensus’ policies, have been implemented in a large number of developing countries over the last quarter century. We explore the logic of these financial policies and examine the diverse ways in which they have failed the developing world. The principal goals of this module are to present a range of financial policies that have been utilized in some countries to promote pro-poor growth at various times, and also to present a set of more innovative policies that have not yet been utilized, but which we argue can also support pro-poor growth. We maintain, in fact, that there exists a wealth of such experiences and strategies available to practitioners in the developing world. (...)