English, Article, Journal or magazine article edition: How successful is World Bank lending for structural adjustment? Conway, Patrick

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Bookmark: http://trove.nla.gov.au/version/118143
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • How successful is World Bank lending for structural adjustment?
Author
  • Conway, Patrick
Physical Description
  • preprint
Notes
  • To measure the effectiveness of the World Bank's structural adjustment programs, the author examines the data on actual economic performance for 75 countries for the period 1976-86. He finds a clear association between participation in a World Bank adjustment lending program and cross-country differences in economic performance and policy. Countries that participated in adjustment lending programs tended to have the following characteristics, compared with countries that did not participate in such programs: (a) more rapid economic growth; (b) more rapid inflation; (c) a less negative current account balance as a percentage of GNP; (d) deeper financial sectors; (e) a lower ratio of current government spending to GNP; and (f) depreciation of the real exchange rate. The first three indicators reflect differing performance; the second three, different policy mixes. In other words, the countries have not benefited merely by increased financing at the margin but have also undertaken significantly different economic policies.
  • Economic Stabilization,Economic Theory&​Research,Environmental Economics&​Policies,Achieving Shared Growth,Macroeconomic Management
  • RePEc:wbk:wbrwps:581
Language
  • English
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