A Quantitative Appraisal of Adjustment Lending
AbstractThis paper presents a quantitative analysis of adjustment programmes. This is done by charting changes in various performance indicators following the receipt of the first adjustment loan, and by further contrasting the results with those for the comparator group of countries that did not receive adjustment loans. It is found that the average decline in the GDP growth rate in the loan-recipient countries was less than in the comparator groups. Similar results were obtained in regard to per capita GDP. At the same time, in both cases, a majority of loan-recipient countries experienced an improvement in their relative position vis-d-vis the non-recipients. It is further apparent that the loan-recipient countries made an adjustment effort in the period following the first loan. To begin with, economic expansion was concentrated in the traded goods sectors, industry and agriculture, both of which experienced an improvement in the loan-recipient countries relative to the comparator groups. Also, the growth of consumption declined substantially in absolute terms as well as relative to the non-recipient countries. In turn, an acceleration is observed in the growth of investment that holds the promise for future economic growth.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Pakistan Institute of Development Economics in its journal The Pakistan Development Review.
Volume (Year): 28 (1989)
Issue (Month): 2 ()
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Iqbal, Zafar & James, Jeffrey & Pyatt, Graham, 2000. "Three-Gap Analysis of Structural Adjustment in Pakistan," Journal of Policy Modeling, Elsevier, vol. 22(1), pages 117-138, January.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Khurram Iqbal).
If references are entirely missing, you can add them using this form.