The Macro Content of PRSPs: Assessing the Need for a More Flexible Macroeconomic Policy Framework

@inproceedings{Gottschalk2005TheMC,
  title={The Macro Content of PRSPs: Assessing the Need for a More Flexible Macroeconomic Policy Framework},
  author={Ricardo Gottschalk},
  year={2005}
}
This article analyses the content of 15 Poverty Reduction Strategy Papers from a growth and poverty reduction perspective. Contrary to new trends in developed and middle-income countries, their policy frameworks lack the necessary flexibility to deal with external shocks and address macroeconomic volatility appropriately. Their fiscal and monetary policies are too narrowly focused on fiscal balance and price stability and consequently pay too little attention to economic fluctuations arising… CONTINUE READING

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