Details

Autor(en) / Beteiligte

• Corbo, Vittorio
• Fischer, Stanley

Titel

Chapter 44 Structural adjustment, stabilization and policy reform: Domestic and international finance

Ist Teil von

• Handbook of Development Economics, 1995, Vol.3, p.2845-2924

Ort / Verlag

Elsevier B.V

Erscheinungsjahr

1995

Link zum Volltext

Quelle

ScienceDirect eBooks

Beschreibungen/Notizen

• This chapter discusses the role of structural adjustment, stabilization, and policy reform on domestic and international finance. Structural adjustment programs generally start with a conventional stabilization program, intended to restore the viability of the current account and the budget, but they are distinguished from pure stabilization programs by the inclusion of a set of microeconomic-institutional policy reforms. Stabilization measures aimed at restoring macroeconomic balance and reducing inflation focus on bringing the level of demand and its composition (tradeable relative to nontradeable goods) into line with the level of output and the financeable level of the trade deficit. The structural transformation component focuses on the removal of microeconomic obstacles to the efficient allocation of resources. Typical measures include liberalizing the trade regime, removing price controls, deregulating domestic goods markets, reforming the public sector, and removing constraints on factor employment and mobility.