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Investment, trade liberalisation and structural adjustment

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  • Michael Bleaney
  • David Fielding

Abstract

The disappointing investment response in developing countries to World Bank Structural Adjustment Lending (SALs) is considered in the light of a theoretical model of the impact of trade liberalisation and tightening balance‐of‐payments constraints on investment. The policy reforms under SALs are not as conducive to increased investment as they may appear to be at first sight. The tendency of countries to apply for SALs when confronted with serious balance‐of‐payments disequilibrium is also an important factor. However, there is no evidence that SALs are associated with a downward shift in the investment function.

Suggested Citation

  • Michael Bleaney & David Fielding, 1995. "Investment, trade liberalisation and structural adjustment," Journal of Development Studies, Taylor & Francis Journals, vol. 32(2), pages 175-194.
    • Handle: RePEc:taf:jdevst:v:32:y:1995:i:2:p:175-194
    DOI: 10.1080/00220389508422410
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    Cited by:

    1. Le Thanh Tung, 2018. "The Impact Of Remittances On Domestic Investment In Developing Countries: Fresh Evidence From The Asia-Pacific Region," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 9(2).
    2. Yago, Milton & Morgan, Wyn, 2008. "The impact of policy reversal on economic performance in Sub-Saharan Africa," European Journal of Political Economy, Elsevier, vol. 24(1), pages 88-106, March.

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