TITLE

THE IMF'S ROLE IN STRUCTURAL ADJUSTMENT

AUTHOR(S)
Collier, Paul; Gunning, Jan Willem
PUB. DATE
November 1999
SOURCE
Economic Journal;Nov99, Vol. 109 Issue 459, pF634
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
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 poststabilisation environments is to provide credible signals to private investors.
ACCESSION #
2636718

 

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