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Social Funds in Stabilization and Adjustment Programmes: A Critique

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  • Giovanni Cornia

Abstract

This article evaluates the impact of the large number of Social Funds (SFs) which were introduced over the last fifteen years to offset the increase in poverty induced by adjustment. SFs have enjoyed greater visibility and financial support by the donor community than traditional social security programmes, and raised expectations about improvements in living conditions in developing countries. Notwithstanding the visibility and administrative flexibility they enjoyed, and their fairly rapid implementation, SFs played only a minor role in reducing the number of adjustment poor and chronic poor and reversing adverse shifts in income distribution. This was due to problems in funding, targeting and sequencing, and cost‐effectiveness. The article concludes that, all in all, SFs have proven to be no panacea. Many of them were formulated with the political objective of reducing domestic opposition to the adjustment process. Greater impact on poverty would have required increased resources, more permanent relief structures, improved planning and targeting and, especially, better timing in relation to the fiscal cuts entailed by macroeconomic adjustment.

Suggested Citation

  • Giovanni Cornia, 2001. "Social Funds in Stabilization and Adjustment Programmes: A Critique," Development and Change, International Institute of Social Studies, vol. 32(1), pages 1-32, January.
  • Handle: RePEc:bla:devchg:v:32:y:2001:i:1:p:1-32
    DOI: 10.1111/1467-7660.t01-1-00194
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    Cited by:

    1. Frances Lund, 2002. "'Crowding in' care, security and micro-enterprise formation: revisiting the role of the state in poverty reduction and in development," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(6), pages 681-694.
    2. Johannes Dragsbaek Schmidt, 2010. "Civil Society and Distributional Conflicts in Southeast Asia," Chapters, in: Rajah Rasiah & Johannes Dragsbaek Schmidt (ed.), The New Political Economy of Southeast Asia, chapter 7, Edward Elgar Publishing.
    3. Vijayendra Rao & Ana Maria Ibanez, 2005. "The Social Impact of Social Funds in Jamaica: A 'Participatory Econometric' Analysis of Targeting, Collective Action, and Participation in Community-Driven Development," Journal of Development Studies, Taylor & Francis Journals, vol. 41(5), pages 788-838.

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