In an article in the last issue of Finance and Development Adolf J.H. Enthoven showed how accountancy has through its history continuously responded to new needs. In this article he indicates how he believes it should now respond to the requirements of the developing countries.
The Selected Issues paper analyzes the determinants of growth in Albania, the macroeconomic underpinnings for growth, the role of remittances in the economy, and the policy response to rapid credit growth. It also analyzes the official estimates with estimates from various macroeconomic surveys, and discusses the implications for the structure of the balance of payments. It also provides a framework for analyzing the budgetary impact of remittances in Albania, and examines the acceleration of credit growth and the policy options available to address the resulting macroeconomic and prudential concerns.
Ian M.D. Little, Adrian Lambertini, and Carl Dahlman
This paper discusses quantitative indicators that measure such macroeconomic variables as the growth of national product, inflation. The importance of considering several indicators in a dynamic context becomes particularly relevant during periods when needed economic and financial adjustment measures are undertaken. Rationales given for maintaining negative real interest rates in developing countries range from keeping down the cost of servicing the public sector’s debt, or of investment, to avoiding the consequences of other policies.
M. Neison, Mr. Edward M. Graham, Paul Krugman, Charles Gardner, Mr. David John Goldsbrough, Anand G. Chandavarkar, Mr. Joseph Gold, Maurice Scott, Deepak Lal, V.V. Bhatt, Michael Liplon, and Richard Longhurst
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