This book integrates the concept of financial intermediaries with Post-Keynesian macroeconomic modeling to discuss the relationship between financial markets and systems and macroeconomic development by discussing key macroeconomic variables such as investment, savings, and productivity growth.

"This book integrates the concept of financial intermediaries with Post-Keynesian macroeconomic modeling to discuss the relationship between financial markets and systems and macroeconomic development by discussing key macroeconomic variables such as investment, savings, and productivity...

The deregulation of domestic financial markets and the capital account in developing countries has frequently been associated with financial turmoil and macro volatility. The book analyzes the experiences of several countries, drawing implications for building development-friendly domestic and...

Introduction -- The monetary convergence hypothesis -- Evidence of monetary divergence -- From fiscal to monetary divergence -- Explaining divergence in the policy mix -- Illustrating partisan divergence in the policy mix -- Expanding the argument