Latin American Adjustment: How Much Has Happened?
This volume examines the record of Latin American adjustment efforts and assesses the challenges that lie ahead. It examines the Washington consensus on how ten major policy instruments - including fiscal deficits, tax reform, exchange rates, and deregulation - should be used to address Latin America's current problems. Ten country studies and accompanying commentaries assess public attitudes in each country toward these reforms, the progress made since 1982 in implementing them, and the impact of policy changes on economic performance.
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What Washington Means by Policy Reform John Williamson
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achieved adjustment Argentina authorities average balance billion Bolivia Brazil budget capital central bank chapter Chile Colombia competitive consensus continued controls Costa Rica costs countries crisis debt decline devaluation direct discussion dollar domestic economic effect effort elimination enterprises example exchange rate expected expenditures exports external fiscal deficit flight foreign growth implemented important income increase industrial inflation institutions interest investment issue Latin America less liberalization major measures Mexico monetary nominal official payments percent of GDP percentages period Peru Plan policy reform political positive present problem production public sector question real exchange rate real interest rates recent reduced reform region relatively remain result share shows social Source spending stabilization structural subsidies Table tariff trade wage Washington World Bank