This insightful book offers a comprehensive analysis of how macroeconomics can steer development and reduce poverty. It untangles how developing countries can apply effective economic policies in spite of the challenges they face. With an aim to design a macroeconomic strategy which would provide a stable and long-term growth plan, Basil Oberholzer explores the multiple constraints which prevent developing countries from reducing poverty. The author reveals how countries' scope of action is strongly limited by international economic dynamics, including current account imbalances, capital flight, foreign debt accumulation, and exchange rate fluctuations. His detailed examination of how international payments take place within the current monetary structure also illuminates fundamental flaws that are harmful for developing countries. Applying a newly developed monetary macroeconomic model, Oberholzer suggests a reform of countries' international payments as a solution to these key problems. This book will prove to be a valuable resource for students and scholars of development economics and macroeconomics. Its analysis of how appropriate macroeconomic strategies can be established, pragmatic policy recommendations, and explanation of critical macroeconomic constraints will also be beneficial for policy-makers in progressive governments.

The global crude oil market is critically important in many respects. It is the fuel that drives the global economy and, as such, is the focus of climate policies. Moreover, crude oil is the basis of a tradable financial asset. It is therefore connected to several outstanding macroeconomic developments of recent years, including financial market fluctuations, the financial crisis and the exceptional conduct of monetary policy. This book investigates the impacts of monetary policy and the financial system on the global crude oil market. Furthermore, it outlines how monetary policy may also be used to guarantee stability and to contribute to ecological sustainability. This unique and innovative book will appeal to students and economists interested in macroeconomics, the environment, energy and monetary policy. It will also be essential reading for policy makers and those interested in economic policy that will benefit both society and the environment.

This book presents paths developing countries can pursue in order to reclaim their ability to take action and improve people's living conditions in the long term. According to dominant economic theory, markets are the essential engines of growth and poverty reduction in developing countries. However, the track record so far is disappointing. On the other hand, poor countries, which are exposed to the dynamics of global capitalism, have little chance to implement alternative development strategies. Policy actions for a fairer income distribution or for more public investment run the risk of being punished by financial markets and capital flight. The book presents solutions to these issues, considering key economic foundations, and outlining feasible development strategies. It is, therefore, a must-read for policy-makers and practitioners working on fighting global poverty, as well as scholars and students of economics, interested in a better understanding of development economics, economic growth, and financial economics.

Der im Februar 2022 ausgebrochene Krieg in der Ukraine bringt nicht nur grosses Leid uber das Land, sondern loest auch globale oekonomische Schockwellen aus. Die Weltwirtschaft hat sich noch nicht richtig von der Coronapandemie erholt und schon kommt das nachste Ungemach in Form von Inflation, steigenden Zinsen, einbrechenden Finanzmarkten und Wahrungsproblemen. Die wirtschaftspolitischen Notfallmassnahmen, die mit der globalen Finanzkrise und der Pandemie zur Norm geworden sind, koennen die Risse im System nicht mehr zusammenhalten. Diese Ereignisse treffen die Entwicklungslander mehrfach und vermengen sich mit den bereits bestehenden Schwierigkeiten zur ausgewachsenen Krise. Dieses essential erklart oekonomische Mechanismen in einfacher Sprache und zeigt Auswege aus der Krise auf.