A reply to De Maio, Stewart and van der Hoeven

Article Abstract:

Research studies conducted at Cornell University on the effects of structural adjustment on the poor rely not just on modeling results alone but also on the analysis of various economic statistics. These studies incorporate information on household consumption, government spending, commodities and foreign exchange markets, and income sources into the models used to examine the social impact of structural adjustment policy. The results are carefully weighed and then used to derive specific policy arguments on liberalization, budget retrenchment and devaluation.

Social aspects, Economic aspects, Poor, Africa, Equilibrium (Economics), Economic stabilization

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Development history and its implications for development theory

Article Abstract:

The importance of economic development history in the formulation of an appropriate theoretical model for developing countries lies in the many lessons that could be learned from a wrong notion of universality, on one hand, and a too-narrow focus, on the other. The development model should ideally be situational and take into account the particular characteristics of the economy being studied. It should, at the same time, focus on institutions, both on the national and international levels.

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An introduction to a primer for reform-minded presidents or prime ministers

Article Abstract:

A primer for enlightened heads of state in developing countries would include advice on how to institute such controversial policies as land reform and radical tax reform. Economists should sharpen their skills in analyzing scenarios that would occur after the implementation of such policies. The transition stage is crucial and the right moves at this stage determine the success or failure of economic reform.

International aspects

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