Abstract:

This paper contains a review of how stabilization and adjustment measures have affected the poor and vulnerable during the 1980s, bringing up to date the analysis in ADJUSTMENT WITH A HUMAN FACE. It finds a continued negative impact in many countries, especially in Latin America and Africa, but finds that some countries did succeed in adjusting with growth and protection of the poor. Analysis of successful experiences suggests lessons for other countries. The paper assesses the changing views...

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