The Macroeconomics of Poverty Reduction , Initial

policy-oriented research on the impact on poverty of macroeconomic policies (fiscal, monetary and exchange-rate policies) and adjustment policies (financial liberalization, trade liberalization, and privatisation/de-regulation). In evaluating this impact, the research also identifies complementary policies that can enhance the impact on poverty of macroeconomic and adjustment policies. This paper reviews two complementary sectoral policies, namely, agricultural development and employment generation, which figured prominently in many of the studies. The research also investigates whether a country is able to mobilize the domestic resources (for example, through savings, taxation or borrowing) to finance a high rate of public and private investment for accelerated economic growth. This paper presents some initial findings from the drafts of eight case studies Before the end of 2003, a final synthesis report will be produced and the case studies will be submitted for professional publication. These countries vary significantly—such as in terms of size, income level and economic structure. For example, China's gross national income was $1,131 billion in 2001 while Mongolia's was one billion and Cambodia's 3.3. Half of the countries—