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Book Reviews 518 JOURNAL OF AFRICAN ECONOMIES, VOLUME 3, NUMBER 3 The Politics of Economic Adjustment: International Constraints, Distributive Conflicts, and the State Stephan Haggard and Robert Kaufman (eds) Princeton University Press 1992, 356pp, 0-691-O4300-O (hardback), 0-691-00394-7 (paperback) The international economic shocks of the 1980s brought about changes in policy agenda with regard to debt in developing countries, causing international financial institutions (IFIs) to get involved, prescribing economic reform programmes. The World Bank and the IMF have strongly argued for the merits and the success of adjustment in developing countries. In Africa, for instance, they argue that, comparatively, the adjusting countries are better off than non-adjusting countries. The two editors and the five contributors to The Politics of Economic Adjustment seriously question this rhetoric, arguing that adjustment may not have been a success. They also demonstrate that developing country debtors may comply, quietly defect, or be outrightly defiant in their policy choices and attitude toward debt. Given these internally and externally-driven policy actions, the authors undertake an inter-temporal cross-sectional comparison of policy choice variations based on the differences in the timing of reform initiatives, degree of adoption of orthodox prescription and the extent of sustenance and consolidation of reforms. They also http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of African Economies Oxford University Press

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Publisher
Oxford University Press
Copyright
© Centre for the Study of African Economies
ISSN
0963-8024
eISSN
1464-3723
DOI
10.1093/oxfordjournals.jae.a036819
Publisher site
See Article on Publisher Site

Abstract

518 JOURNAL OF AFRICAN ECONOMIES, VOLUME 3, NUMBER 3 The Politics of Economic Adjustment: International Constraints, Distributive Conflicts, and the State Stephan Haggard and Robert Kaufman (eds) Princeton University Press 1992, 356pp, 0-691-O4300-O (hardback), 0-691-00394-7 (paperback) The international economic shocks of the 1980s brought about changes in policy agenda with regard to debt in developing countries, causing international financial institutions (IFIs) to get involved, prescribing economic reform programmes. The World Bank and the IMF have strongly argued for the merits and the success of adjustment in developing countries. In Africa, for instance, they argue that, comparatively, the adjusting countries are better off than non-adjusting countries. The two editors and the five contributors to The Politics of Economic Adjustment seriously question this rhetoric, arguing that adjustment may not have been a success. They also demonstrate that developing country debtors may comply, quietly defect, or be outrightly defiant in their policy choices and attitude toward debt. Given these internally and externally-driven policy actions, the authors undertake an inter-temporal cross-sectional comparison of policy choice variations based on the differences in the timing of reform initiatives, degree of adoption of orthodox prescription and the extent of sustenance and consolidation of reforms. They also

Journal

Journal of African EconomiesOxford University Press

Published: Dec 1, 1994

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