This paper deals with structural adjustment in the highly indebted countries. The origins of the debt crisis are first analyzed. Then the nature of the adjustment followed by the debt ridden countries between 1982- 1987 is discussed. It is noted that for most nations the adjustment has been highly recessive. Next, the potential role of trade reforms in securing the resumption of sustained growth is analyzed.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
2502.
Length: Date of creation: Aug 1989 Date of revision: Publication status: published relationship to a non-chapter. This should not happen. Please contact NBER. Handle: RePEc:nbr:nberwo:2502
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Sebastian Edwards, 2002.
"Does the Current Account Matter?,"
NBER Chapters,
in: Preventing Currency Crises in Emerging Markets, pages 21-76
National Bureau of Economic Research, Inc.
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