Reinvigorating Growth in Developing Countries: Lessons from Adjustment Policies in Eight Economies (Google eBook)
This study examines the links between adjustment policies and growth in a small group of developing countries- Bangladesh, Chile, Ghana, India, Mexico, Morocco, Senegal, and Thailand - during 1970 -93. It provides an overview of the adjustment and growth experience, examines in depth several policy issues of particular interest, and distills the principal policy lessons for the design of adjustment policies.
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Adam Bennett adjustment period adjustment policies appear Bangladesh capital inflows changes Chart Chile constraints coun cross-country decline deficit developing countries differential after controlling disinflation domestic economic eight countries employment external debt external financing factors financial sector reforms fiscal adjustment fiscal policy formal sector GDP growth Ghana Growth differential imbalances IMF staff estimates IMF-supported programs impact important increase India inflation influence initial International Monetary Fund labor market long-run determinants macroeconomic macroeconomic policies macroeconomic stability measures ment Mexico Morocco nomic nominal output percent of GDP private investment private saving private sector productivity public enterprise public investment public saving public sector ratio Real effective exchange real exchange rate real interest rates real wages recovery reduced Senegal shocks structural distortions structural reforms studies substantial suggests supply response supply shocks sustained tariff terms of trade Thailand tion trade reforms typically variables world average World Bank