This paper investigates the political and economic determinants of successful fiscal adjustment in 25 emerging market economies from 1980 to 2001. The results show that large and back-loaded fiscal adjustments have the highest likelihood of success. Fiscal consolidations based on expenditure...

This paper presents an analysis of the social impact of the economic crisis and reform programs in three Asian countries: Indonesia, Korea, and Thailand. The focus is on changes in real consumption expenditures arising from higher inflation and unemployment