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Structural Adjustment and Liberalisation in Developing Countries: What Lessons Have We Learned?

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  • Greenaway, David
  • Morrissey, Oliver

Abstract

In the context of the literature on the sequencing of reform, this paper reviews the evidence of a range of studies and draws out the lessons and implications for developing economies contemplating economic policy reform. Three questions form the core of this assessment. First, are there theoretical grounds to underpin some 'optimal' sequencing of economic reforms and is it necessary that macroeconomic reforms take precedence? Second, are reforms that are introduced gradually more enduring than a 'big bang' approach? Finally, is political stability a prerequisite to sustainable reform? The answers offered are all, to a greater or lesser degree, affirmative. Copyright 1993 by WWZ and Helbing & Lichtenhahn Verlag AG

Suggested Citation

  • Greenaway, David & Morrissey, Oliver, 1993. "Structural Adjustment and Liberalisation in Developing Countries: What Lessons Have We Learned?," Kyklos, Wiley Blackwell, vol. 46(2), pages 241-261.
  • Handle: RePEc:bla:kyklos:v:46:y:1993:i:2:p:241-61
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    Cited by:

    1. Ho, Sin-Yu & Njindan Iyke, Bernard, 2018. "Short- and Long-term Impact of Trade Openness on Financial Development in Sub-Saharan Africa," MPRA Paper 84272, University Library of Munich, Germany.
    2. Bhattacharya, Rina, 1997. "Pace, sequencing and credibility of structural reforms," World Development, Elsevier, vol. 25(7), pages 1045-1061, July.
    3. Prema-Chandra Athukorala & Kunal Sen, 1996. "Reforms and Investment in India," Trade and Development 96/6, Australian National University, Department of Economics.
    4. Abla M. Abdel-Latif & Jeffrey B. Nugent, 1996. "Transaction Cost Impairments To International Trade: Lessons From Egypt," Contemporary Economic Policy, Western Economic Association International, vol. 14(2), pages 1-14, April.
    5. Wahba, Jackline & Mohieldin, Mahmoud, 1998. "Liberalizing Trade in Financial Services: The Uruguay Round and the Arab Countries," World Development, Elsevier, vol. 26(7), pages 1331-1348, July.
    6. Jones, Chris & Morrissey, Oliver & Nelson, Doug, 2011. "Did the World Bank Drive Tariff Reforms in Eastern Africa?," World Development, Elsevier, vol. 39(3), pages 324-335, March.
    7. Linsu Kim & Jeffrey B. Nugent & Seung-Jae Yhee, 1997. "Transaction Costs And Export Channels Of Small And Medium-Sized Enterprises: The Case Of Korea," Contemporary Economic Policy, Western Economic Association International, vol. 15(1), pages 104-120, January.
    8. Bwire, Thomas & Lloyd, Tim & Morrissey, Oliver, 2013. "A Timeseries Analysis of the Impact of Foreign Aid on Central Government's Fiscal Budget in Uganda," WIDER Working Paper Series 101, World Institute for Development Economic Research (UNU-WIDER).
    9. Morrissey, Oliver, 2002. "Recipient Governments' Willingness and Ability to Meet Aid Conditionality: The Effectiveness of Aid Finance and Conditions," WIDER Working Paper Series 105, World Institute for Development Economic Research (UNU-WIDER).
    10. Morrissey, Oliver, 1995. "Political commitment, institutional capacity and tax policy reform in Tanzania," World Development, Elsevier, vol. 23(4), pages 637-649, April.

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