Stabilization and Structural Adjustment

Macroeconomic Frameworks for Analysing the Crisis in Sub-Saharan Africa

By: Finn Tarp

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Paperback | 8 September 1994 | Edition Number 1

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232 Pages

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21.59 x 13.97 x 1.35

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The past decade has been disastrous for Africa. Different solutions have been proposed for this crisis, but the stabilization and structural adjustment packages of the World Bank and the International Monetary Fund have had the greatest influence. Characteristically these packages are designed to diminish the role of the state and enhance that of the market but a whole range of strategies have been pursued to achieve these ends. On different occasions demand or supply side measures have been favoured and policies have been adopted with a view to the short, middle or long term. Given that much of the literature in this area is descriptive and orientated around case studies it is difficult to disentangle the key features of the debate. Stabilization and Structural Adjustment offers clarification by looking beyond individual programmes to assess the relevance of the macroeconomic theory and models that underlie them.

Industry Reviews

"Finn Tarp's book gives the best exposition of how the International Monetary Fund and World Bank do macroeconomics, richly illustrated with institutional detail for sub-Saharan Africa. For people trying to understand the complexities of macro policy formation in developing economies and how the Bretton woods institutions don't fully face up to the task it is essential reading." -Lance Taylor, The New School for Social Research "Finn Tarp's book provides an exceptionally clear exposition of the different economic frameworks and models that underpin the stabilization and structural adjustment policies which are being undertaken in sub-Saharan Africa. It will be most helpful to both students and practitioners of structural adjustment seeking a wise guide to the intricacies of the structural adjustment debate." -John Toye, Director of The Institute of Development Studies, University of Sussex

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