This volume deals with macroeconomic issues and their relation withgrowth in emerging economies. Frustrating economic growth has been a lasting feature of Latin American economies since the 1980s; the analysis is complemented with two studies focused in East Asia and South Africa. All country cases have exhibited low inflation but large instability of economic activity in the 1990s and early 2000s. These cases provide relevant theoretical implications to broaden the understanding of real macroeconomic policies in economies vulnerable to the globalization of financial volatility. Analyzing alternative policies that could be taken to avoid costly mistakes and to recover economic growth, this volume examines existing reforms and suggests areas of policy reshuffle to achieve a macroeconomics for growth. The target is to contribute to build market economies 'friendly' with development, generating more winners than losers from globalization. A significant role emerges for a sharp correction of the policy recipes in fashion for macroeconomic management.