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Structural Adjustment and Reform in Developing Countries

In: The International Monetary and Financial System

Author

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  • Montek S. Ahluwalia

Abstract

The past ten years have seen a remarkable convergence of views among all segments of the development community — policy makers, academics and the major multilateral institutions — on what policies are good for development. The convergence is reflected in the near universal trend towards trade liberalization and greater openness to foreign investment, greater reliance upon market forces in both the real and financial sectors, and a reduction in the role of the public sector in favour of the private sector, all underpinned by a sustained pursuit of macroeconomic stability through low fiscal deficits. These are the common ingredients of programmes of structural adjustment and economic reform being implemented all over the developing world.

Suggested Citation

  • Montek S. Ahluwalia, 1996. "Structural Adjustment and Reform in Developing Countries," Palgrave Macmillan Books, in: G. K. Helleiner (ed.), The International Monetary and Financial System, chapter 8, pages 193-228, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24414-0_8
    DOI: 10.1007/978-1-349-24414-0_8
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    Cited by:

    1. Tanveer Ahsan & Muhammad Azeem Qureshi, 2017. "The impact of financial liberalization on capital structure adjustment in Pakistan: a doubly censored modelling," Applied Economics, Taylor & Francis Journals, vol. 49(41), pages 4148-4160, September.
    2. Bhattacharya, Rina, 1997. "Pace, sequencing and credibility of structural reforms," World Development, Elsevier, vol. 25(7), pages 1045-1061, July.
    3. Rashid Ameer, 2013. "Financial liberalization and firms’ capital structure adjustments evidence from Southeast Asia and South America," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 37(1), pages 1-32, January.

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