There is growing dissatisfaction with the economic policies advocated by the IMF and other international financial institutions policies that have often resulted in stagnating growth, crises, and recessions for client countries. This book presents an alternative to 'Washington Consensus' neo-liberal economic polices by showing that both macroeconomic and liberalization policy must be sensitive to the particular circumstances of developing countries. It presents an alternative framework and discusses how different approaches to economic policy can better serve developing countries both in ordinary times and in times of crises. Written by leading names in the field, this book introduces the issues and the objectives of macroeconomic policy from diverse perspectives. It also presents an analysis of macroeconomic models and policy perspectives on stabilization and capital markets liberalization from conservative, Keynesian, and heterodox perspectives.