"The macroeconomic experience of emerging and developing economies has tended to be quite different from that of industrial countries. Compared to industrial countries, emerging and developing economies have tended to be much more unstable, with more severe boom/bust cycles, episodes of high inflation, and a variety of financial crises.
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This second edition differs from the first in offering: more diagrams and less taxonomy, application boxes, end-of-chapter questions, references for each chapter, enhanced integration of the parts of the work, and new material on themes such as fiscal institutions, inflation targeting, emergent market crises and the Great Recession.
