Adjustment policies in developing countries : a reassessment (English)

This paper analyzes policy responses to external shocks of the 1973-76 and 1979-81 periods in developing economies, grouped according to the level of industrialization and the policies applied. It is shown that outward-oriented economies relied largely on export promotion and import substitution to offset the balance-of-payments effects of external shocks in both periods. Inward-oriented economies failed to apply such output-increasing policies of...
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Citation

Balassa, Bela.

Adjustment policies in developing countries : a reassessment (English). World Bank reprint series ; no. REP 312 Washington, D.C. : The World Bank. http://documents.worldbank.org/curated/en/467731468766801472

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