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Structural Adjustment and Liberalisation in Developing Countries: What Lessons Have We Learned?

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  • Greenaway, David
  • Morrissey, Oliver

Abstract

In the context of the literature on the sequencing of reform, this paper reviews the evidence of a range of studies and draws out the lessons and implications for developing economies contemplating economic policy reform. Three questions form the core of this assessment. First, are there theoretical grounds to underpin some 'optimal' sequencing of economic reforms and is it necessary that macroeconomic reforms take precedence? Second, are reforms that are introduced gradually more enduring than a 'big bang' approach? Finally, is political stability a prerequisite to sustainable reform? The answers offered are all, to a greater or lesser degree, affirmative. Copyright 1993 by WWZ and Helbing & Lichtenhahn Verlag AG

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Kyklos.

Volume (Year): 46 (1993)
Issue (Month): 2 ()
Pages: 241-61

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Handle: RePEc:bla:kyklos:v:46:y:1993:i:2:p:241-61

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0023-5962

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Cited by:
  1. Prema-Chandra Athukorala & Kunal Sen, 1996. "Reforms And Investment In India," Departmental Working Papers 1996-06, The Australian National University, Arndt-Corden Department of Economics.
  2. Jones, Chris & Morrissey, Oliver & Nelson, Doug, 2011. "Did the World Bank Drive Tariff Reforms in Eastern Africa?," World Development, Elsevier, vol. 39(3), pages 324-335, March.
  3. Bwire, Thomas & Morrissey, Oliver & Lloyd, Tim, 2013. "A timeseries analysis of the impact of foreign aid on central government.s fiscal budget in Uganda," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  4. Morrissey, Oliver, 2002. "Recipient Governments' Willingness and Ability to Meet Aid Conditionality: The Effectiveness of Aid Finance and Conditions," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  5. Bhattacharya, Rina, 1997. "Pace, sequencing and credibility of structural reforms," World Development, Elsevier, vol. 25(7), pages 1045-1061, July.

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