'This much enriched edition of Peter Montiel's book provides a clear and thorough introduction to the macroeconomic issues that developing countries and emerging markets in general face in a globalized world. Students and economists in policy circles will find the core short-run macroeconomic model that it uses with so much versatility to be of invaluable help in understanding the fundamental nature of these issues and in thinking about how to respond to them.' Pierre-Richard Agenor, University of Manchester
'A book that should remain on the desk of any economist working on emerging markets. A rigorous journey from first principles all the way to current issues, be it the effects of the crisis on emerging-market countries or the potential role of capital controls in responding to capital inflows. If you are new to the topic, read the book from beginning to end. If you think you know it all, still look and read the relevant chapters: you will learn.' Olivier J. Blanchard, Massachusetts Institute of Technology and the International Monetary Fund
'Remarkably, the second edition is even better than the first. It finds just the right balance between theory, policy analysis, and empirical applications. The exposition remains crisp and lucid, while the addition of new material on fiscal institutions, the role of banks in the monetary transmission mechanism, inflation targeting, emerging-market financial crises, and policy responses to the Great Recession makes the text more rigorous and comprehensive.' Edward F. Buffie, Indiana University
'Peter Montiel has long set the highest standard for lucid textbooks on the macroeconomics of developing countries. Now in this new edition of his superb classic Macroeconomics in Emerging Markets, he has surpassed even himself. He uniquely fills the gap between rich-country-obsessed macro- and micro-obsessed developing-country analysis. No student of the macroeconomics of development will henceforward be able to do without this book.' William Easterly, New York University
'This book is a timely and authoritative survey of theory and evidence on macroeconomic policies in emerging-market economies. Peter Montiel knows this material from all angles - as a researcher, master teacher, and practitioner. This is an indispensable resource for development economists working in the field, as well as for graduate students or advanced undergraduates working on open economy macroeconomics in developing countries.' Steven A. O'Connell, Swarthmore College
'Peter Montiel's Macroeconomics in Emerging Markets brings to life with clear analysis and real-life examples many of the macroeconomic policy challenges faced by emerging markets. The topics covered range from the design of monetary policy to curb stubborn inflation to the timeless policy dilemmas that coping with volatile international capital flows and commodity prices pose for these countries. A must-read for those seeking to understand and teach students how most of the world lives.' Carmen M. Reinhart, Peterson Institute for International Economics
'[Recommend] to both students and to lecturers aiming at 'freshing up' their lectures by making them more relevant. For the latter, this is a great place to start.' The Times Higher Education Supplement
