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ADJUSTMENT IN DEVELOPING adjustment process balance of payments balance-of balance-of-payments difficulties balance-of-payments pressure balance-of-payments problems balance-of-payments support Bretton Woods Bretton Woods system burden of adjustment capacity to adjust capital flows context costs current account decline in real deficit countries deficit is due deflation developing countries developing-country exports disequilibrium domestic economies effects ENVIRONMENT FOR ADJUSTMENT expanding finance fiscal policies Fund History Fund member gold standard growth imbalances import prices import restrictions individual countries industrial countries international environment International Monetary Fund Latin American Program least developed countries long-run development member countries ment monetary and fiscal of-payments official resources output particular payments support period of adjustment political poorest countries private bank private capital markets proportion protectionism quotas rate of adjustment result sector shifting SMITHSONIAN INSTITUTION BUILDING sources of balance-of-payments stabilization programs structural surpluses target textile trade and payments trade balances Wilson International Center World Bank world economy