Adjustment and Poverty
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Overview
The last decade has brought sharp adjustment and rising poverty for most of the developing world. Adjustment and Poverty: Options and Choices examines the major causes and results of this situation, including:*the relationship between structural adjustment and poverty;
*the extent to which the situation was brought about by internal and/or external policies;
*the impact of the IMF and World Bank on adjusting countries;
*government tax and spending policies - with a particular focus on social sector spending;
*the possiblity of better policies in the future.
Synopsis
Adjustment and Poverty examines the major causes and results of the last decade of sharp adjustment and rising poverty for the developing world. The oil crises of the 1970s and the recession of the early 1980s set in motion a chain of events which has particularly serious consequences for these areas. Frances Stewart examines the relationship between adjusting policies and poverty during the 1980s and assesses the extent to which the relationship was the result of the exogenous and/or endogenous policies. Stewart also analyzes the impact of the IMF and World Bank macropolicies on adjusting countriesboth in theory and practiceand discusses government tax and expenditure policies, focusing on social setting factors. Stewart also identifies and assesses policies for the future. Experiences in Africa and Latin America, areas where poverty is highest, are contrasted with areas which were able to combine adjustment with protection for the poor.