Structural Adjustment and Reform in Developing Countries

Montek S. Ahluwalia

Chapter 8 in The International Monetary and Financial System, 1996, pp 193-228 from Palgrave Macmillan

Abstract: Abstract The past ten years have seen a remarkable convergence of views among all segments of the development community — policy makers, academics and the major multilateral institutions — on what policies are good for development. The convergence is reflected in the near universal trend towards trade liberalization and greater openness to foreign investment, greater reliance upon market forces in both the real and financial sectors, and a reduction in the role of the public sector in favour of the private sector, all underpinned by a sustained pursuit of macroeconomic stability through low fiscal deficits. These are the common ingredients of programmes of structural adjustment and economic reform being implemented all over the developing world.

Keywords: Interest Rate; Private Investment; Trade Liberalization; Public Investment; Structural Adjustment (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-24414-0_8

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DOI: 10.1007/978-1-349-24414-0_8

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