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Growth-Oriented Adjustment Programs: A Conceptual Framework

Author

Listed:
  • Mohsin S. Khan

    (International Monetary Fund)

  • Peter J. Montiel

    (International Monetary Fund)

Abstract

A conceptual framework is proposed as an input to the design of growth-oriented adjustment programs. The two building blocks of the model are the well-known monetary approach to the balance of payments and a variant of the open-economy neoclassical growth model. The integrated model combines growth, inflation, and the balance of payments and links these objectives to government policies and the availability of foreign financing. The principal advantage of the framework is its simple structure, which enables it to be applied relatively easily to a variety of developing countries.

Suggested Citation

  • Mohsin S. Khan & Peter J. Montiel, 1989. "Growth-Oriented Adjustment Programs: A Conceptual Framework," IMF Staff Papers, Palgrave Macmillan, vol. 36(2), pages 279-306, June.
    • Handle: RePEc:pal:imfstp:v:36:y:1989:i:2:p:279-306
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    Citations

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    Cited by:

    1. Carmen M. Reinhart, 1990. "A Model of Adjustment and Growth: An Empirical Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 37(1), pages 168-182, March.
    2. E. V. K. Fitzgerald, 1992. "Private Sector Investment and Savings Behaviour: The Policy Implications of Capital Account Disaggregation," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 31(4), pages 491-510.
    3. Mr. Jan Giehm Mikkelsen, 1998. "A Model for Financial Programming," IMF Working Papers 1998/080, International Monetary Fund.
    4. Thilak Ranaweera, 2004. "Ghost of the financing gap: an overlooked aspect of the aid debate," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(4), pages 637-652.
    5. Ulrich Fritsche, 1999. "Konzeptionelle Schwächen von IWF-Stabilisierungsprogrammen im Kontext der Asienkrise," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 68(1), pages 110-117.
    6. Brigitte Granville, 2006. "Integrating poverty reduction in IMF-World Bank Models," Working Papers id:502, eSocialSciences.
    7. Evia, José Luis, 1996. "Política Fiscal e Inversión Privada en Bolivia," Documentos de trabajo 6/1992, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana.
    8. Jinjarak, Yothin & Salinas, Gonzalo & Tsikata, Yvonne M., 2013. "The effect of World Bank trade adjustment assistance on trade and growth, 1987–2004: Is the glass half full or half empty?," Economic Systems, Elsevier, vol. 37(3), pages 415-430.
    9. Chris Allen & David Vines, 1993. "Should Clinton Cut the Deficit or is there a Global Paradox of Thrift?," The World Economy, Wiley Blackwell, vol. 16(2), pages 133-158, March.

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