The Balance of Payments Adjustment Process in Developing Countries

The Balance of Payments Adjustment Process in Developing Countries

Pergamon Policy Studies on Socio-Economic Development

1st Edition - January 1, 1980

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  • Authors: Sidney Dell, Roger Lawrence
  • eBook ISBN: 9781483154305

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The Balance of Payments Adjustment Process in Developing Countries deals with the manner in which the burden of adjustment to balance of payments disequilibrium in the 1970s was distributed between developed and developing countries. The book discusses the evidence on changes in the volume of trade; the evidence on price changes and their effects on the accounts of various groups of countries; and the general considerations regarding the character of the deficits of developing countries. The text also describes the mechanisms through which external disturbances are transmitted to the domestic economy, as well as certain questions relating to the financing of the deficits of developing countries. The changes in the world economy; the ways in which changes in the world economy affected the external accounts of the countries; and the effects of changes in the external accounts on developments in the domestic economy are also considered. The book further tackles the policy measures adopted to counter the deterioration in external balance and in growth performance and prospects; as well as the main issues that arise in the course of the adjustment process, at both national and international levels.

Table of Contents

  • Foreword

    Country Analysts

    List of Tables

    Chapter 1 The International Setting


    Shifts in Current Accounts: Price and Quantum Changes

    Current Imbalances and the Adjustment Process

    Import Capacity, Growth, and External Finance: An Overview

    2 Impact and Response


    Developments in the External Accounts

    Pressures to Adjust and the Capacity for Adjustment

    Maintaining Import Capacity: Performance and Policies

    Exchange Rate Policies

    Unearned Import Capacity: Performance and Policies

    The Role of Reserves and Payments Finance

    Trade Policies to Deal with Reduced Import Capacities

    The Impact of External Factors on the Domestic Economy

    Prices and Real Wages

    Macroeconomic Policies


    3 Evaluation of Issues


    Origins of an International Approach to the Adjustment Process

    The Asymmetry of Adjustment

    Framework and Objectives

    Problems of Diagnosis and Financial Programming

    Targets and Instruments

    Conditionality and the Use of Resources

    Trade Policies

    Policies on Exchange Rates

    The Rate of Adjustment and the Adequacy of Reserves

    4 Conclusions and Recommendations

    The Character of Balance of Payments Pressures

    The Impact of Disequlibrium

    The International Environment for Adjustment

    Fund Conditionality and the Adequacy of Resources

    The Need for Longer-Term Measures of Adjustment

    The Need for Symmetry in the Adjustment Process


    Appendix - Origins of the Principle of Conditionally



    About the Authors

Product details

  • No. of pages: 170
  • Language: English
  • Copyright: © Pergamon 1980
  • Published: January 1, 1980
  • Imprint: Pergamon
  • eBook ISBN: 9781483154305

About the Authors

Sidney Dell

Roger Lawrence

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