This paper begins by examining the existing conceptual framework for stabilization policies and inquires into the question as to an appropriate framework for adjustment policies. Next, the instruments of adjustment policies are briefly reviewed; followed by a discussion of the principal types of...

This paper presents a quantitative analysis of adjustment programs in developing countries that received adjustment loans from the World Bank. Data have been provided for loan recipients and non-recipients in Sub-Saharan African, low-income, low-middle income, and upper-middle income countries....

The exploitation of the Soviet Union's foreign trade potential would necessitate adopting a realistic exchange rate and increasing the foreign exchange retention quotas for direct and indirect exporters. It would also require reforms of domestic policies. The first prerequisite is the...

In the McKinnon and Shaw analysis, financial liberalization is defined to mean the establishment of higher interest rates that equate the demand for, and the supply of, savings. It expresses the views that higher interest rates will lead to increased savings and financial intermediation as well...

This paper provides evidence on the effects of interest rates on savings in developing countries. While the evidence is not conclusive, time-series estimates for individual countries as well as cross-section and time-series estimates for a number of countries point to the positive effects of...

Exports in general, and agricultural exports in particular, are more responsive to price incentives in Sub-Saharan Africa than in developing countries.. These are the results of an econometric investigation on the effects of real exchange rates on exports. It further appears that in Sub-Saharan...

Sharp fluctuations in the export prices of a major staple commodity can have jarring effects on economic activity. To reduce these undesirable effects and at the same time, increase the government's share in the proceeds of the booming sector, developing countries can funnel the revenue from...

Korea's exports have made an important contribution to its outstanding economic growth. Its exports, in turn, have been affected by domestic economic variables, including exchange rate policy, and by external influences. Among domestic economic variables, the exchange rate appears to have had a...

Developing countries are well advised to adopt appropriate tariff and tax policies. An ideal scheme of such policies would include the following : 1) export taxes should be set on the basis of the long run elasticity of foreign demand in the case of commodities in which the country has market...

This paper examines the implications for EMENA of EEC trade policy. Following an analysis of EEC trade agreements with EMENA countries, the paper has shown that EMENA's trade performance in the EEC has been far from uniform. While Turkey and Morocco, who carried out economic reforms, increased...