This volume sheds light on crucial questions in the field of monetary, financial and macroeconomic policy. Consisting of a series of surveys written by leading international economists, it addresses questions such as: What is the role of the financial sector in economic development? Is financial liberalization good for development? Why do financial crises occur and how can they be avoided? And do macroeconomic adjustment measures exacerbate poverty? The surveys are written to be accessible to readers with a basic background in economics, and will be a valuable resource for economists, social scientists, policy-makers and students who want to keep abreast of recent literature in this important field. ÍNDICE: 1 Monetary, financial and macroeconomic adjustment policies : an overview by Stuart Sayer 1 2 Financial liberalisation and economic development : an assessment by Paul Auerbach and Jalal Uddin Siddiki 7 3 Financial markets, development and economic growth : tales of informational asymmetries by Salvatore Capasso 43 4 An exegesis on currency and banking crises by Janice Boucher Breuer 69 5 The changing nature of currency crises by Sweta C. Saxena 97 6 Macroeconomic adjustment and the poor : analytical issues and cross- country evidence by Pierre-Richard Agenor 127 7 The asymmetric effects of monetary policy by Anna Florio 185 8 Monetary policy and the zero bound to interest rates : a review by Tony Yates