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Enterprise performance and macroeconomic control

Author

Listed:
  • W. BUITER

    (University of Cambridge)

  • R. LAGO

    (European Bank for Reconstruction and Development, London)

  • N. STERN

    (European Bank for Reconstruction and Development, London)

Abstract

The work argues that poor macroeconomic control is an important cause of poor enterprise performance. The authors review the empirical evidence on the relationship between macroeconomic stability and the performance of the real economy both at the aggregate and the project levels, before presenting a cursory review of the theoretical links. The importance of implementing microeconomic and structural reforms alongside the establishment of macroeconomic stability is also dealt with. The authors conclude with suggestions for policy makers regarding the priorities in the development of the institutions required to achieve and preserve a stable macroeconomic framework.

Suggested Citation

  • W. Buiter & R. Lago & N. Stern, 1997. "Enterprise performance and macroeconomic control," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 50(200), pages 3-22.
    • Handle: RePEc:psl:bnlaqr:1997:11
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10568/10452
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    References listed on IDEAS

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    Cited by:

    1. Buiter, Willem H. & Lago, Ricardo & Rey, Hélène, 1997. "Enterprises in Transition: Macroeconomic Influences on Enterprise Decision-making and Performance," CEPR Discussion Papers 1601, C.E.P.R. Discussion Papers.
    2. French-German Economic Forum, 1999. "Reduction of Working Time," Working Papers 1999-13, CEPII research center.

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    More about this item

    Keywords

    Macroeconomic control; macroeconomic stability; enterprise performance;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

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