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External Adjustment: the Proper Role for the IMF

In: Financial Fragility, Debt and Economic Reforms

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  • Richard N. Cooper

Abstract

The past decade has not been a good one for developing countries as a group. During the 1980s per capita incomes grew by 1.7 per cent a year, less than half the rate attained during the 1960s. However, the dispersion around this average has been enormous, ranging from −3 to nearly 9 per cent. Since all these countries were part of the same world economy and participated to some extent in the same world events, what can we say by way of explanation for this large dispersion?

Suggested Citation

  • Richard N. Cooper, 1996. "External Adjustment: the Proper Role for the IMF," Palgrave Macmillan Books, in: Sunanda Sen (ed.), Financial Fragility, Debt and Economic Reforms, chapter 10, pages 198-203, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-13801-2_11
    DOI: 10.1007/978-1-349-13801-2_11
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