Structural Adjustment Policies in Highly Indebted Countries
NBER Working Paper No. 2502 (Also Reprint No. r1245)
This paper deals with structural adjustment in the highly indebted countries. The origins of the debt crisis are first analyzed. Then the nature of the adjustment followed by the debt ridden countries between 1982- 1987 is discussed. It is noted that for most nations the adjustment has been highly recessive. Next, the potential role of trade reforms in securing the resumption of sustained growth is analyzed.
Document Object Identifier (DOI): 10.3386/w2502
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