The IMF's role in structural adjustment
In the 1980s conditional lending for structural adjustment in developing countries moved the IMF beyond its role of macroeconomic crisis management. Fund-supported adjustment programmes have often been flawed by a lack of distributional analysis and by poor sequencing of reforms, notably premature financial liberalisation. As a result they have caused avoidable hardship. In addition, the attempt to taper out aid as part of the reform programme leads to avoidable reductions in post-stabilisation growth. An important role for the Fund in post-stabilisation environments is to provide credible signals to private investors.
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- Simon Appleton & Tom Emwanu & Johnson Kagugube & James Muwonge, 1999.
"Changes in poverty in Uganda, 1992-1997,"
CSAE Working Paper Series
1999-22, Centre for the Study of African Economies, University of Oxford.
- Paul Collier & Jan Willem Gunning, 1998.
"Explaining African economic performance,"
Economics Series Working Papers
WPS/1997-02.2, University of Oxford, Department of Economics.
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