| Abstract: | This article surveys the literature on macro-economic policy in East Asian and Pacific developing countries. Both internal and external aspects of macroeconomic policy are covered, but greater emphasis is placed on the former. After reviewing regional work on macroeconomic policy objectives and on the conflicts, constraints and trade-offs faced by policy makers, an examination is made of research into target/instrument frameworks for the analsyis and design of policy. Then follow sections dealing with the specific instruments of monetary and fiscal policy. Finally, attention is drawn briefly to topics found in the literature but bypassed in this survey, and to gaps in the regional literature itself. |
