The IMF's role in structural adjustment
In the 1980s conditional lending for structural adjustment in developing countries moved the IMF beyond its role of macroeconomic crisis management. Fund-supported adjustment programmes have often been flawed by a lack of distributional analysis and by poor sequencing of reforms, notably premature financial liberalisation. As a result they have caused avoidable hardship. In addition, the attempt to taper out aid as part of the reform programme leads to avoidable reductions in post-stabilisation growth. An important role for the Fund in post-stabilisation environments is to provide credible signals to private investors.
Year of publication: |
1999
|
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Authors: | Collier, Paul ; Gunning, Jan Willem |
Institutions: | Centre for the Study of African Economies (CSAE), Department of Economics |
Saved in:
freely available
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