This comprehensively revised and updated edition develops the themes presented in the first edition. Students and teachers who are familiar with the book will notice entirely new chapters as well as significant revision and uptating of existing chapters to take into account global economic changes since the turn of the millennium. With questions for discussion and excellent use of case studies, the book covers such themes as:

* standard closed and open macroeconomic models

* a full evaluation of the post-Washington consensus model

* IMF stabilization programs and their effects on developing economies

* the pressing problems of indebtedness

* financial sector reforms in developing countries.

This informative textbook is the ideal accompaniment for students of development economics and it will prove popular with lecturers and academics alike.