CONDITIONALITY AND THE ADJUSTMENT DEVELOPMENT CONNECTION*

Tony Killick

Pakistan Journal of Applied Economics, 1995, vol. 11, 17-36

Abstract: All economies continuously need to adapt to changing circumstances and opportunities, and countries which have adapted along lines promoted by the Bretton Woods institutions (BWls) have achieved strongly improved economic performance. However, the results achieved by structural adjustment programmes (SAPs) in developing countries is patchy, at best, The paper seeks to explain this paradox, emphasizing the adverse effects of the BWIs' narrow perception of the development-adjustment relationship, and of their over reliance on a conditionality of limited revealed effectiveness. The BWIs need to re-think how they can best contribute to adaptation in developing economies.

Date: 1995
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