The Imf's Role In Structural Adjustment  

Oleh:

Collier, Paul ; Gunning, Jan Willem

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 109 no. 459 (Nov. 1999), page 634-651.
Topik: IMF; management; structural
Fulltext: 634[1].pdf (163.5KB)

Isi artikel

In the 1980s conditional lending for structural adjustment in developing countries moved the IMF beyond its role of macroeconomic crisis management. Fund-supported adjustment programmes have often been ¯awed by a lack of distributional analysis and by poor sequencing of reforms, notably premature ®nancial liberalisation. As a result they have caused avoidable hardship. In addition, the attempt to taper out aid as part of the reform programme leads to avoidable reductions in post-stabilisation growth. An important role for the Fund in poststabilisation environments is to provide credible signals to private investors.

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