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Toward a Concept of Development Agreements

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  • F. Gerard Adams

Abstract

The problems associated with structural stagnation, the debt crisis, and policy mismanagement have proved resistant to the procedures of balance-of-payments stabilization and structural adjustment of the International Monetary Fund and the World Bank. This paper considers the challenges encountered in merging policies of adjustment and development planning. We consider some guiding principles and weigh some alternative policies. The paper suggests that a new approach may be useful for the countries that have been least successful at making adjustments, face massive structural problems, and need additional donor aid. Development Agreements would call, on the part of the recipient countries, for policies based on a "development strategy" and, on the part of the donor countries, for assurances of long-term financial assistance. It is suggested that such agreements be organised and overseen by joint Development Commissions made up of representatives of the donors, the recipient ... Les problèmes liés à la stagnation structurelle, à la crise de la dette et à une mauvaise politique de gestion ont persisté malgré les mesures de stabilisation de la balance des paiements et les ajustements structurels mis en place par le Fonds monétaire international et par la Banque mondiale. Ce document examine les défis soulevés par la fusion des politiques concernant à la fois l'ajustement et le développement et s'adresse aux pays où l'ajustement n'a pas été un succès et pour lesquels une nouvelle aide s'avère indispensable. Nous considérons ici certains principes directeurs et évaluons les chances de quelques alternatives politiques et, face au poids considérable des problèmes structurels, nous proposons une approche différente de la question. Elle suggère que pour les pays bénéficiaires de l'aide, les accords de développement impliqueraient des mesures basées sur "une stratégie du développement" et, pour les pays donateurs, des garanties financières à long terme. Il est ...

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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Development Centre Working Papers with number 43.

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Date of creation: Aug 1991
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Handle: RePEc:oec:devaaa:43-en

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Cited by:
  1. Thierry Mayer, 2006. "Policy Coherence for Development: A Background Paper on Foreign Direct Investment," OECD Development Centre Working Papers 253, OECD Publishing.

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