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The Balance of Payments Adjustment Process in Developing Countries - 1st Edition - ISBN: 9780080255774, 9781483154305

The Balance of Payments Adjustment Process in Developing Countries

1st Edition

Pergamon Policy Studies on Socio-Economic Development

Authors: Sidney Dell Roger Lawrence
eBook ISBN: 9781483154305
Imprint: Pergamon
Published Date: 1st January 1980
Page Count: 170
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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


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


No. of pages:
© Pergamon 1980
1st January 1980
eBook ISBN:

About the Authors

Sidney Dell

Roger Lawrence

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