The Role of Economic Advisers in Israel’s Economic Policy: Crises, Reform and Stabilization

Description

This book illustrates the role of international economic advisors in the development of Israel’s economic policies. Based on extensive archival and historical research, it presents case studies on the policy impacts of the world-renowned advisors Michal Kalecki, Abba Lerner, Richard Kahn, Milton Friedman, Herbert Stein and Stanley Fischer. The authors evaluate the contributions of these advisors to policy developments in various fields, including international trade and capital flows, exchange rates, fiscal and monetary policy, industrial policy and labor relations. Readers will discover a wealth of previously unpublished information on these advisors’ activities, perspectives on policy and interactions with policymakers and the public. Using the Israeli experience as a guide, the authors subsequently derive general hypotheses regarding the conditions that are conducive to the success of economic advisors. Front Matter ....Pages i-xi Introduction: The Impact of Economic Advisers in Israel (Daniel Schiffman, Warren Young, Yaron Zelekha)....Pages 1-6 Economic Crisis and Policy Prescriptions: The Kalecki and Mikesell Reports, 1950–1952 (Daniel Schiffman, Warren Young, Yaron Zelekha)....Pages 7-17 Adviser and Activist: Lerner on the Israeli Economy, 1953 and Afterward (Daniel Schiffman, Warren Young, Yaron Zelekha)....Pages 19-49 Ex-officio Adviser: Kahn in Israel, 1957 and 1962 (Daniel Schiffman, Warren Young, Yaron Zelekha)....Pages 51-80 Politicization of Policy Prescriptions: Friedman and Israeli Economic Reform, 1977 (Daniel Schiffman, Warren Young, Yaron Zelekha)....Pages 81-123 Economic Analysis, Advice, and Stabilization, 1972–1992: The Stein-Fischer Nexus (Daniel Schiffman, Warren Young, Yaron Zelekha)....Pages 125-144 Stabilization via Government Accounting Reform: The 2003 Program and Politicization of Recovery (Daniel Schiffman, Warren Young, Yaron Zelekha)....Pages 145-161 Economic Advisers and Israel’s Economic Policy: Some Interim Conclusions (Daniel Schiffman, Warren Young, Yaron Zelekha)....Pages 163-165 Back Matter ....Pages 167-176