Macroeconomic Policy for Development

Abstract

The international financial crisis which was detonated in 2008-2009 shook the pattern of growth in the global economy and, by other important, challenged the macroeconomic policy. The new questions, some originated between experts from institutions identified with economic orthodoxy, are joining in the criticism already since some time ago from the structuralist perspectives and the heterodox to conventional macroeconomic policy applied in Latin America during 1980 and 1990. A critical element of common and important is the wrong emphasis given by macroeconomic policy in use in the stabilization of nominal variables such as inflation and the fiscal deficit, and subsequent neglect, or much lower priority, the performance of real variables such as the evolution of productive activity and employment as well as the macro effects of the financial intermediation. The purpose of the present work is based on some of the main criticisms made from both perspectives, identify the elements that you must have a policy for macroeconomic development