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Adjustment and income distribution : a counterfactual analysis

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  • Bourguinon, Francois
  • Branson, William H.
  • De Melo, Jaime

Abstract

This paper presents model simulations to quantify the effects of different stabilization packages in the distribution of income and wealth. The simulations suggest that a sharply contractionary stabilization package has a major adverse impact on the distribution of income. The shifts in distribution are likely to make the package less sustainable. The simulations support the view that stabilization packages which do not have specific components targeted to the poor will redistribute income in a way that, although transitory, is likely to permanently harm those below the poverty line - in terms of things like nutrition, health, and education. The sharp redistributive effects of stabilization packages that omit specific targeted policies to alleviate poverty are also likely to endanger the sustainability of the adjustment package.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 215.

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Date of creation: 31 May 1989
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Handle: RePEc:wbk:wbrwps:215

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Keywords: Economic Theory&Research; Environmental Economics&Policies; Economic Stabilization; Banks&Banking Reform; Inequality;

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References

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  1. François Bourguignon & William H. Branson & Jaime de Melo, 1989. "Macroeconomic Adjustment and Income Distribution: A Macro-Micro Simulation Model," OECD Development Centre Working Papers 1, OECD Publishing.
  2. Corbo, Vittorio & de Melo, Jaime & Tybout, James, 1986. "What Went Wrong with the Recent Reforms in the Southern Cone," Economic Development and Cultural Change, University of Chicago Press, vol. 34(3), pages 607-40, April.
  3. Dell, Sidney, 1982. "Stabilization: The political economy of overkill," World Development, Elsevier, vol. 10(8), pages 597-612, August.
  4. de Melo, Jaime & Robinson, Sherman, 1982. "Trade adjustment policies and income distribution in three archetype developing economies," Journal of Development Economics, Elsevier, vol. 10(1), pages 67-92, February.
  5. Tobin, James, 1969. "A General Equilibrium Approach to Monetary Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 15-29, February.
  6. Cornia, Giovanni Andrea & Jolly, Richard & Stewart, Frances (ed.), 1987. "Adjustment with a Human Face: Volume 1, Protecting the Vulnerable and Promoting Growth," OUP Catalogue, Oxford University Press, number 9780198286097, September.
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Citations

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Cited by:
  1. Anne Maasland, 1992. "Consecuencias Distributivas de las Políticas de Ajuste: Una Revisión de Metodologías," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 29(86), pages 141-162.
  2. Dorosh, Paul A. & Sahn, David E., 2000. "A General Equilibrium Analysis of the Effect of Macroeconomic Adjustment on Poverty in Africa," Journal of Policy Modeling, Elsevier, vol. 22(6), pages 753-776, November.
  3. Jorge Alarcon & Jan Van Heemst & Niek De Jong, 2000. "Extending the SAM with Social and Environmental Indicators: An Application to Bolivia," Economic Systems Research, Taylor & Francis Journals, vol. 12(4), pages 473-496.
  4. Khan, haider, 2008. "Analyzing Poverty Impact of Trade Liberalization Policies in CGE Models: Theory and Some Policy Experiments in Agricultural and Non-agricultural Sectors in South Asia," MPRA Paper 7609, University Library of Munich, Germany, revised Mar 2008.
  5. Luis Carlos Jemio & Manfred Wiebelt, 2002. "Macroeconomic Impacts of External Shocks and Anti-Shock Policies in Bolivia: A CGE Analysis," Kiel Working Papers 1100, Kiel Institute for the World Economy.
  6. Aliaga Lordemann, Jevier & Villegas Quino, Horacio, 2011. "Poverty, Indigence and Public Investment in Bolivia: A Simulation Analysis," Documentos de trabajo 5/2011, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana.
  7. Cogneau, Denis & Collange, Gérald, 1997. "Les effets à moyen terme de la dévaluation des francs CFA. Une comparaison Cameroun / Côte d’Ivoire à partir d’un modèle micro-macro dynamique et financier," Economics Papers from University Paris Dauphine 123456789/5149, Paris Dauphine University.
  8. Maasland, Anne, 1990. "Methods for measuring the effect of adjustment policies on income distribution," Policy Research Working Paper Series 474, The World Bank.
  9. White, Howard & Luttik, Joke & DEC, 1994. "The countrywide effects of aid," Policy Research Working Paper Series 1337, The World Bank.
  10. Sahn, David E. & Dorosh, Paul & Younger, Stephen, 1996. "Exchange rate, fiscal and agricultural policies in Africa: Does adjustment hurt the poor?," World Development, Elsevier, vol. 24(4), pages 719-747, April.

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