Macroeconomy for development: countercyclical policies and production sector transformation

cepal.bibLevelSección o Parte de un Documento
cepal.callNumberX/C 22(104/2011)
cepal.callNumberLC/G.2498-P
cepal.callNumberCEPAL Review no.104 August 2011
cepal.docTypeRevistas
cepal.physicalDescriptiongráficos., tablas.
cepal.topicEngINNOVATION AND EXPORT DIVERSIFICATION
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngSTRUCTURAL HETEROGENEITY
cepal.topicEngMACROECONOMICS
cepal.topicEngSOCIAL INNOVATION
cepal.topicEngBALANCE OF PAYMENTS
cepal.topicSpaINNOVACIÓN Y DIVERSIFICACIÓN EXPORTADORA
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaHETEROGENEIDAD ESTRUCTURAL
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaINNOVACIÓN SOCIAL
cepal.topicSpaBALANZA DE PAGOS
cepal.workareaEngINTERNATIONAL TRADE AND INTEGRATION
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngSOCIAL DEVELOPMENT
cepal.workareaEngSTATISTICS
cepal.workareaSpaCOMERCIO INTERNACIONAL E INTEGRACIÓN
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaDESARROLLO SOCIAL
cepal.workareaSpaESTADÍSTICAS
dc.contributor.authorOcampo, José Antonio
dc.coverage.spatialEngLATIN AMERICA
dc.coverage.spatialSpaAMERICA LATINA
dc.date.accessioned2014-01-02T18:45:40Z
dc.date.available2014-01-02T18:45:40Z
dc.date.issued2011-08
dc.descriptionIncludes bibliography
dc.descriptionThis article is based on a keynote lecture delivered at the Economic Commission for Latin America and the Caribbean (eclac) in Santiago, Chile, on 12 April 2011 on the occasion of the tenth lecture in the Raúl Prebisch Memorial Lecture Series.
dc.description.abstractThe argument that I will be making here is that the key to a well-designed macroeconomic policy for development is a mix of sound countercyclical policies and a proactive strategy for diversifying production structures. These two concepts are deeply rooted in eclac thinking. Countercyclical policies must withstand the challenges posed by abrupt external financing cycles and sharp fluctuations in commodity prices. Fiscal policy is of pivotal importance, but it must be coupled with equally countercyclical monetary and exchange-rate policies. In the light of the experience over the past decade, this policy mix seems to be achievable if intermediate exchange regimes are introduced alongside macroprudential policies, including regulation of capital flows. At the same time, the strategy used to spur the development of the production sector should foster innovative economic activities that generate domestic production linkages. The concept of innovation must be understood in a broad sense, but the critical test is its contribution to the accumulation of technological capabilities.
dc.formatTexto
dc.format.extentpáginas. 7-35
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/G.2498-P
dc.identifier.urihttps://hdl.handle.net/11362/11501
dc.language.isoeng
dc.physicalDescriptiongrafs., tabls.
dc.physicalDescriptionp. 7-35
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo104
dc.relation.isPartOfSeriesCEPAL Review
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisEngECONOMIC DEVELOPMENT
dc.subject.unbisEngECONOMIC ANALYSIS
dc.subject.unbisEngECONOMIC POLICY
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngMONETARY POLICY
dc.subject.unbisEngBALANCE OF PAYMENTS
dc.subject.unbisEngFOREIGN EXCHANGE RATES
dc.subject.unbisEngPRODUCTION DIVERSIFICATION
dc.subject.unbisEngINNOVATIONS
dc.subject.unbisEngDEVELOPMENT STRATEGIES
dc.subject.unbisSpaMACROECONOMIA
dc.subject.unbisSpaDESARROLLO ECONOMICO
dc.subject.unbisSpaANALISIS ECONOMICO
dc.subject.unbisSpaPOLITICA ECONOMICA
dc.subject.unbisSpaPOLITICA MONETARIA
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaBALANZA DE PAGOS
dc.subject.unbisSpaTIPOS DE CAMBIO
dc.subject.unbisSpaDIVERSIFICACION DE LA PRODUCCION
dc.subject.unbisSpaINNOVACIONES
dc.subject.unbisSpaESTRATEGIAS DEL DESARROLLO
dc.titleMacroeconomy for development: countercyclical policies and production sector transformation
dc.type.coarrevista
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