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Stabilisation and Structural Adjustment in Developing Countries
The Case of Jordan and Malawi
Abstract
This paper analyses and compares World Bank structural adjustment programmes and International Monetary Fund (IMF) stabilisation programmes in Malawi during the 1980s and Jordan during the 1990s. Both are small aid-dependant economies with a narrow export base making them vulnerable to exogenous shocks. The article pays particular attention to the political economy environment in which reform programmes are implemented and to the role of exogenous shocks, both adverse and favourable, in determining the outcome of the programmes. The sequencing of reforms is also assessed in both countries.
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- Available online: 12 Oct 2008
Author affiliations
- a School of Economic Studies, University of Manchester, Oxford Road, Manchester, M13 9PL, UK
- b Faculty of Management and Business, The Manchester Metropolitan University, Aytoun Building, Aytoun Street, Manchester, Ml 3GH, UK
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