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adjustment. They believe that South Korea has been closer to the developed countries after the IMF's structural adjustment. However, others doubt whether South Korea is a successful case of IMF structural adjustment. In the process of South Korea and the
International Monetary Fund reaching an agreement, the United States played a major role in it. The US government's structural adjustment to South Korea should be based on its own interests. At present, South Korea's economic structure and financial market contain many problems, which leads to an increase in social problems in South Korea and the result of instability in South Korean society. Because the IMF is subject to the distribution of power and interests of major powers, it is difficult to implement actions with fair and objective criteria. The main reason is that the International Monetary Fund reflects the political issues of American financial hegemony and voting power to a certain extent. This has led to the request of the IMF for the aided country that may have been made while ignoring the actual situation of the aided country. It often overemphasizes market liberalization and financial market opening. In the long run, these loan conditions have brought bad results to the aided countries.
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ineffectiveness of structural adjustment in part being attributed to the disconnect between the informal sector of the economy as generated by traditional society and the formal sector generated by a modern, urban society. The rural and urban scales and the different needs of each are a factor that usually goes unexamined when analyzing the effects of structural adjustment. In some rural, traditional communities, the absence of landownership and ownership of resources, land tenure, and labor practices due to custom and tradition provides a unique situation in regard to the structural economic reform of a state. Kinship-based societies, for example, operate under the rule that collective group resources are not to serve individual purposes. Gender roles and obligations, familial relations, lineage, and household organization all play a part in the functioning of traditional society. It would then appear difficult to formulate effective economic reform policies by considering only the formal sector of society and the economy, leaving out more traditional societies and ways of life.
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underlying public health infrastructure. The book claims the consequences have been chronically underfunded public health systems, leading to dilapidated health infrastructure, inadequate numbers of health personnel, and demoralizing working conditions that have fueled the "push factors" driving the brain drain of nurses migrating from poor countries to rich ones, all of which has undermined public health systems and the fight against HIV/AIDS in developing countries. A counter-argument is that it is illogical to assume that reducing funding to a program automatically reduces its quality. There may be factors within these sectors that are susceptible to corruption or over-staffing that causes the initial investment to not be used as efficiently as possible.
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1990s from the 1980s, that the IMF should focus more on remedying management of a country's balance of payments position as originally envisaged by the IMF instead of its focusing on structural adjustments. One study pointed towards deleterious effects on countries in Latin
America's democratic practices, suggesting that reforms may create an economically and politically marginalized population who views democratic government as unresponsive to its needs and thus less legitimate. However, the existence of the IMF loan itself has not led to any change away from democracy itself. Critics (often from the left) accuse such policies to be "not-so-thinly-disguised wedge for capitalist interests."
993:(TRIPS), it has been argued, turned the WTO into a "royalty collection agency" for the rich countries. The Structural Adjustment Programs (SAPs) connected to IMF loans have proven singularly disastrous for the poor countries but provide huge interest payments to the rich. In both cases, the "voluntary" signatures of poor states do not signify consent to the details of the agreement, but need. Obviously, trade—with liberal or nonliberal states—is not a moral obligation, yet conditional aid, like IMF and WTO policies, aims at changing the cultural, economic, and political constitution of a target state clearly without its consent.
933:, political instability has gone hand in hand with gross economic decline. One of the core problems with conventional structural-adjustment programs is the disproportionate cutting of social spending. When public budgets are slashed, the primary victims are disadvantaged communities who typically are not well organized. An almost classic criticism of structural adjustment is pointing out the dramatic cuts in the education and health sectors. In many cases, governments ended up spending less money on these essential services than on servicing international debts.
280:(PRSPs), which essentially take the place of SAPs. Some believe that the increase of the local government's participation in creating the policy will lead to greater ownership of the loan programs and thus better fiscal policy. The content of PRSPs has turned out to be similar to the original content of bank-authored SAPs. Critics argue that the similarities show that the banks and the countries that fund them are still overly involved in the policy-making process. Within the IMF, the
1113:. Currently there are 185 Members of the IMF (as of February 2007) and 184 members of the World Bank. Members are assigned a quota to be reevaluated and paid on a rotating schedule. The assessed quota is based upon the donor country's portion of the world economy. One of the critiques of SAPs is that the highest donating countries hold too much influence over which countries receive the loans and the SAPs that accompany them. However, the largest donor only holds 18% of the votes.
799:, like cocoa in Ghana, tobacco in Zimbabwe and prawns in the Philippines, which made them highly vulnerable to fluctuations in the world market price of these crops. The other main criticism against the compelled integration of developing countries into the global market implied that their industries were not economically or socially stable and therefore not ready to compete internationally. After all, the industrialized countries had engaged in the
827:(MNCs) to gain access to large sums of capital that they wanted to invest in new markets, such as in developing countries. However, foreign capital could not be freely invested yet because most of these countries protected their nascent industries against it. This changed radically with the implementation of SAPs in the 1980s and 1990s, when controls on foreign exchange and financial protection barriers were lifted: Economies opened up and
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policies by a country’s domestic government, member countries are usually allowed to amend their adjustment plans. In the initial broad period when the demand for funds is large, the quota of a country is too low compared with its economic scale, and the adjustment plan is effective, the IMF and the World Bank are allowed to break the practice and adjust the specific Quota for loans issued by the state.
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77:
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Adjustment Loans (ESAFs) issued by the
International Monetary Fund aim to offer favorable assistance for medium-term structural reforms in low-income member countries. It is argued that ESAFs may be more beneficial in promoting growth and bolstering balance of payments.It is to be noted that these are the stated goals of SALs and ESAFs and the actual effects on the economy might be different.
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to production and exportation of cash crops, and restricted from control of their own more valuable natural resources (oil, minerals) by SAP free-trade and low-regulation requirements. In order to repay interest, these postcolonial countries are forced to acquire further foreign debt, in order to pay off previous interests, resulting in an endless cycle of financial subjugation.
36:
265:, and the reduction of barriers to foreign capital would allow for increased investment, production, and trade, boosting the recipient country's economy. Countries that fail to enact these programmes may be subject to severe fiscal discipline. Critics argue that the financial threats to poor countries amount to blackmail, and that poor nations have no choice but to comply.
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989:(WTO). While the latter agreements are formally "voluntary," in light of the desperate economic dependence of many developing states, they are to all intents and purposes "imposed." Moreover, the beneficiaries of these agreements-sometimes intentionally so, often unintentionally-turn out to be the rich countries. The
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loan to depressed and developing countries, their loans are intended to address different problems. The IMF mainly lends to countries that have balance of payment problems (they cannot pay their international debts), while the World Bank offers loans to fund particular development projects. However,
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Autonomy: During the entire SAL loan process, member countries always have the initiative in policy selection. The
International Monetary Fund and the World Bank are obliged to provide member countries with advice, guidance and policy building, but they have no right to replace members. The country’s
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created a propitious environment for the counterrevolution in development thought and practice that the neoliberal
Washington Consensus began advocating at about the same time. Taking advantage of the financial straits of many low- and middle-income countries, the agencies of the consensus foisted on
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By minimizing a government's ability to organize and regulate its internal economy, pathways are created for multinational companies to enter states and extract their resources. Upon independence from colonial rule, many nations that took on foreign debt were unable to repay it, limited as they were
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of national economies because an outside organization is dictating a nation's economic policy. Critics argue that the creation of good policy is in a sovereign nation's own best interest. Thus, SAPs are unnecessary given the state is acting in its best interest. However, supporters consider that in
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There are multiple criticisms that focus on different elements of SAPs. There are many examples of structural adjustments failing. In Africa, instead of making economies grow fast, structural adjustment actually had a contractive impact in most countries. Economic growth in
African countries in the
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Privatization has had disparate effects on women and men; one study examines how the privatization of the male-dominated manufacturing and extractive industries in
Argentina as a result of structural adjustment programs and subsequent rise in unemployment among men have forced women into the labor
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Some studies suggest that they have been "weakly associated with growth and reform did seem to reduce inflation." Others have argued, however, that "the outcomes associated with frequent structural adjustment lending are poor." Some have argued that, based on only mild improvement of growth in the
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Countries with native populations living traditional lifestyles face unique challenges in regards to structural adjustment. Authors
Ikubolajeh Bernard Logan and Kidane Mengisteab make the case in their article "IMF-World Bank Adjustment and Structural Transformation on Sub-Saharan Africa" for the
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Thoroughness: The purpose of rooting out bad economic performance and supplemented by a series of supporting comprehensive policy measures, although this may make a country pay adjustment costs in the short term, but in the long run, it will definitely help. As a country’s economy is on track and
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Flexibility. The
International Monetary Fund and the World Bank have always taken flexible measures to avoid rigid lending regulations due to insufficient understanding of a country’s situation. For example, taking into account the difficulties and uncertainties in the implementation of long-term
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Critics have condemned these privatization requirements, arguing that when resources are transferred to foreign corporations and/or national elites, the goal of public prosperity is replaced with the goal of private accumulation. Furthermore, state-owned firms may show fiscal losses because they
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defines colonialism as the "enduring relationship of domination and mode of dispossession, usually (or at least initially) between an indigenous (or enslaved) majority and a minority of interlopers (colonizers), who are convinced of their own superiority, pursue their own interests, and exercise
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provided the IMF with the necessary leverage to impose very similar comprehensive neoliberal reforms in over 70 developing countries, thereby entirely restructuring these economies. The goal was to shift them away from state intervention and inward-oriented development and to transform them into
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While the main focus of SAPs has continued to be the balancing of external debts and trade deficits, the reasons for those debts have undergone a transition. Today, SAPs and their lending institutions have increased their sphere of influence by providing relief to countries experiencing economic
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After the run on the dollar of 1979–80, the United States adjusted its monetary policy and instituted other measures so it could begin competing aggressively for capital on a global scale. This was successful, as can be seen from the current account of the country's balance of payments. Enormous
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SAL initially financed the loan by selling gold held in trust funds and accepting donations from donor countries. Subsequent loans are based on the repayment of trust funds and interest earned. The SDR is the accounting unit of the loan, and the disbursement and repayment of the loan are in US
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In addition, SAL also has the advantages of long loan life, low loan interest rate, loose loan conditions, and easy negotiation. Because of this, SAL has been welcomed by many developing countries and has played a role of positive for the improvement of economic conditions in these countries.
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occurred in 1997, South Korea accepted various loan conditions while accepting the largest financial assistance in the history of the
International Monetary Fund. The United States and the International Monetary Fund evaluated South Korea as one of the successful cases of the IMF's structural
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claims that the IMF's monetarist approach towards prioritizing price stability (low inflation) and fiscal restraint (low budget deficits) was unnecessarily restrictive and has prevented developing countries from being able to scale up long-term public investment as a percentage of GDP in the
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Continuity. Due to the long time required for structural adjustment, the IMF and the World Bank generally prefer to provide a series rather than a loan to ensure the periodicity and continuity of the structural adjustment plan. Therefore, the loan becomes a catalyst for obtaining additional
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It is claimed that with the growing need for structural adjustments in different nations, the lines between SAL and other loan types provided by the International Monetary Fund and the World Bank have become less distinct. For instance, it is purported that both SALs and Enhanced Structural
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For example, if a government cuts education funding, universality is impaired, and therefore long-term economic growth. Similarly, cuts to health programs have allowed diseases such as AIDS to devastate some areas' economies by destroying the workforce. A 2009 book by Rick Rowden entitled
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To this day, economists can point to few, if any, examples of substantial economic growth among the LDCs under SAPs. Moreover, very few of the loans have been paid off. Pressure mounts to forgive these debts, some of which demand substantial portions of government expenditures to service.
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A common policy required in structural adjustment is the privatization of state-owned industries and resources. This policy aims to increase efficiency and investment and to decrease state spending. State-owned resources are to be sold whether they generate a fiscal profit or not.
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Macroeconomics and Classical Political Economy, emphasizing the role of the necessity of export-oriented integration into the world economy toward industrialization, while also rejecting foreign indebtedness and management of balance of payments to avert recurrent crises.
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judged this as yet another way of capitalist control of the Northern industrialized countries, it also brought advantages to local elites and to larger, more profitable companies who expanded in size and influence. However, smaller, less industrialized businesses and the
612:. PRSPs were introduced as a result of the bank's beliefs that "successful economic policy programs must be founded on strong country ownership". In addition, SAPs with their emphasis on poverty reduction have attempted to further align themselves with the
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Mexico was the first country to implement structural adjustment in exchange for loans. During the 1980s the IMF and World Bank created loan packages for the majority of countries in Latin America and Sub-Saharan Africa as they experienced economic crises.
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1980s and 1990s fell below the rates of previous decades. Agriculture suffered as state support was radically withdrawn. After independence of African countries in the 1960s, industrialization had begun in some places, but it was now wiped out.
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financing. This provides a guarantee for the fundamental structural adjustment of the comprehensive measures of key departments, and avoids the possible adverse effects of the inconsistency of the project loan cycle and the pace of policy reform.
276:" as a goal. SAPs were often criticized for implementing generic free-market policy and for their lack of involvement from the borrowing country. To increase the borrowing country's involvement, developing countries are now encouraged to draw up
795:. While this was beneficial for Western consumers, developing countries lost 52% of their revenues from exports between 1980 and 1992 because of the decline in prices. Furthermore, debtor states were often encouraged to specialize in a single
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of private investments. The search for alternative policy options thus seemed justified. Critics denounce, though, that even the productive state sectors were restructured for the sake of integrating these developing economies into the
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Chandra Mohanty says “the proliferation of structural adjustment policies around the world has reprivatized women’s labor by shifting the responsibility for social welfare from the state to the household and to women located there.”
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as the only source for developing countries to obtain such currency. For the inward-oriented economies it was therefore mandatory to switch their entire production from what was domestically eaten, worn or used towards goods that
981:... private interests within liberal capitalist states continue to pursue the opening up of markets abroad, and they continue to enlist their governments' support, through multilateral and bilateral arrangements—conditional aid,
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them measures of "structural adjustment" that did nothing to improve their position in the global hierarchy of wealth but greatly facilitated the redirection of capital flows toward sustaining the revival of US wealth and power.
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has been the largest recipient of structural adjustment program loans since 1990. Such loans cannot be spent on health, development or education programs. The largest of these have been to the banking sector ($ 2 billion for
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market in which they are underpaid and face poor working conditions. Feminist studies critique the economic theory behind structural adjustment because its focus on the "productive economy" renders invisible the
548:– abolition of regulations that impede market entry or restrict competition, except for those justified on safety, environmental and consumer protection grounds, and prudent oversight of financial institutions;
1784:, likewise notes that "high and volatile interest rates in the United States contributed to a spate of banking and sovereign debt crises in emerging economies, most famously in Latin America and then Africa."
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institutions) require borrowing countries to implement certain policies in order to obtain new loans (or to lower interest rates on existing ones). These policies are typically centered around increased
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While the structuralist period led to rapid expansion of domestically manufactured goods and high rates of economic growth, there were also some major shortcomings such as stagnating exports, elevated
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Privatization of utilities given into by imposed structural adjustment has had negative effects on the reliability and affordability of access to water and electricity in developing countries such as
335:
Another type of loan issued by the World Bank, sector adjustment loans, differs from SAL only in that the former places more emphasis on improving one economic sector rather than the entire economy.
246:, liberalizing trade and foreign investment, and balancing government deficit. The conditionality clauses attached to the loans have been criticized because of their effects on the social sector.
234:(WB) to countries that experience economic crises. Their stated purpose is to adjust the country's economic structure, improve international competitiveness, and restore its balance of payments.
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for domestic industries. Consequently, the very conditions under which industrialized countries had developed, grown and prospered in the past were now discouraged by the IMF through its SAPs.
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According to its stated goals, Structural Adjustment Loans (SALs) aim to achieve three main objectives: boosting economic growth, addressing balance of payments deficits, and reducing poverty.
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and 4 years. Today, there are a few longer term options available, which go up to 7 years, as well as options that lend to countries in times of crises such as natural disasters or conflicts.
831:(FDI) flowed in en masse. A great example of this is the fall of the local textile industry within many African nations, replaced in part by Chinese counterfeits and knockoffs. The scholars
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304:, located primarily in East and South Asia, Latin America, and Africa. including Colombia, Mexico, Turkey, Philippines, Pakistan, Nigeria, Sudan, Zimbabwe and other countries.
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Critics hold SAPs responsible for much of the economic stagnation that has occurred in the borrowing countries. SAPs emphasize maintaining a balanced budget, which forces
706:. State intervention included providing the infrastructure required by the respective industry, the protection of these local industries against foreign competition, the
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as an example. Since the loan conditions have a huge influence on the economy of the recipient countries, there are many arguments about the loan conditions. When the
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achieving a virtuous circle, this is precisely the key to the difficulty of obtaining long-term benefits in the past, such as project loans and other forms of loans.
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Redirection of public spending from subsidies ("especially indiscriminate subsidies") toward broad-based provision of key pro-growth, pro-poor services like
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IMF loans focus on temporarily fixing problems that countries face as a whole. Traditionally IMF loans were meant to be repaid in a short duration between
702:(ISI) had become the ubiquitous paradigm. It entailed the substitution of foreign imports by goods produced by national industries with the help of
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were interested in. However, as dozens of countries underwent this restructuration process simultaneously and often were told to focus on similar
281:
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Logan, Ikubolajeh Bernard; Mengisteab, Kidane (January 1993). "IMF-World Bank Adjustment and Structural Transformation in Sub-Saharan Africa".
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Trade liberalization – liberalization of imports, with particular emphasis on elimination of quantitative restrictions (licensing, etc.); any
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Structural adjustment policies, as they are known today, originated due to a series of global economic disasters during the late 1970s: the
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programmes and policy, SAPs are supposedly intended to balance the government's budget, reduce inflation and stimulate economic growth. The
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capital flows to the United States had the corollary of dramatically depleting the availability of capital to poor and middling countries.
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suffered from reduced protection and the growing importance of transnational actors led to a decline in national control over production.
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women do while assuming the "reproductive economy" will continue to function in the same way it did prior to the economic restructuring.
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605:. These fiscal disasters led policy makers to decide that deeper intervention was necessary to improve a country's overall well-being.
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657:, a new theory was formulated to build upon the experiences of the 1980s and the effects of IMF structural adjustment loans, called
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Greenberg, James B. (September 1997). "A Political Ecology of Structural-Adjustment Policies: The Case of the Dominican Republic".
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Mohanty, Chandra Talpade (January 2003). "'Under Western Eyes' Revisited: Feminist Solidarity through Anticapitalist Struggles".
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many developing countries, the government will favor political gain over national economic interests; that is, it will engage in
616:. As a result of PRSPs, a more flexible and creative approach to policy creation has been implemented at the IMF and World Bank.
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problems due to natural disasters or economic mismanagement. Since their inception, SAPs have been adopted by a number of other
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the World Bank also provides balance of payments support, usually through adjustment packages jointly negotiated with the IMF.
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Grusky, Sara (1 September 2001). "Privatization Tidal Wave: IMF/World Bank Water Policies and the Price Paid by the Poor".
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dollars. The amount of SALs issued to a country is usually proportional to its quota in the International Monetary Fund.
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in the short and medium term or in order to adjust the economy to long-term growth. By requiring the implementation of
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of key industries and a low cost of living for workers in urban areas. Comparing these inward-oriented measures to
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Pineau, Pierre-Olivier (September 2002). "Electricity sector reform in Cameroon: is privatization the solution?".
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Agarwal, Manmohan; Sengupta, Dipankar (1999). "Structural Adjustment in Latin America: Policies and Performance".
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1977:
2270:"The Impact of World Bank and IMF conditionality: An investigation into electricity privatisation in Nicaragua"
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Veltmeyer, H. (1993). "Liberalisation and Structural Adjustment in Latin America In Search of an Alternative".
1690:"Public sector Adjustment Loan SAL I First Structural Adjustment Loan SAL II Second Structural Adjustment Loan"
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of goods only after they had developed a more mature industrial structure which they had built up behind high
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demanded by the SAPs, it becomes obvious that the structuralist model was fully reversed in the course of the
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McPake, B. (1 August 2009). "Hospital Policy in Sub-Saharan Africa and Post-Colonial Development Impasse".
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practices to consolidate political power rather than address crucial economic issues. In many countries in
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2731:(2010). "The world economy and the Cold War, 1970–1990". In Leffler, Melvyn P.; Westad, Odd Arne (eds.).
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Geldstein, Rosa N. (1997). "Gender Bias and Family Distress: The Privatization Experience in Argentina".
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Recent studies have shown strong connections between SAPs and tuberculosis rates in developing nations.
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power through a mixture of coercion, persuasion, conflict and collaboration". The definition adopted by
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The Deadly Ideas of Neoliberalism: How the IMF has Undermined Public Health and the Fight Against AIDS
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977:'s conception of liberal internationalism and his opposition to commercial empires, Beate Jahn said:
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1017:, have argued that SAPs and neoliberal policies have negatively affected many developing countries.
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increasing the stability of investment (by allowing foreign investors) with the opening of companies
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fulfill a wider social role, such as providing low-cost utilities and jobs. Some scholars, such as
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has observed that this scarcity of capital, which was heralded by the Mexican default of 1982,
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institutions - the IMF and the World Bank. They were advised by the top economists of both.
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Jahn, Beate (January 2005). "Kant, Mill, and Illiberal Legacies in International Affairs".
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2003:"From classical developmentalism and post-Keynesian macroeconomics to new developmentalism"
1904:"Democracy's Friend or Foe? The Effects of Recent IMF Conditional Lending in Latin America"
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that had numerous effects on the economic institutions of countries that underwent them.
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Silent revolution : the rise and crisis of market economics in Latin America
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to finance government deficits (usually in the form of loans from central banks)
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Cardoso and Helwege, "Latin America's Economy" Cambridge, MA: MIT Press (1992)
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Easterly, William. (2006) The White Man's Burden. Penguin Books. Pages 68-72.
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Since the late 1990s, some proponents of structural adjustments (also called
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reduction through higher taxes and lower government spending, also known as
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1428:"The IMF's Enhanced Structural Adjustment Facility (ESAF): Is It Working?"
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programs. The casualties of balancing a budget are often social programs.
249:
SAPs are created with the stated goal of reducing the borrowing country's
2558:
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export-led, private sector-driven economies open to foreign imports and
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to be provided by low and relatively uniform tariffs; the conversion of
1960:
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2155:"Globalisation Part 3 - The IMF, World Bank and Structural Adjustment"
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Since SAPs are based on the condition that loans have to be repaid in
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that are market determined and positive (but moderate) in real terms;
1952:
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2635:
991:
Agreement on Trade-Related Aspects of Intellectual Property Rights
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arbitration guarantees the economic autonomy of the member states.
308:
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enhancing the rights of foreign investors vis-à-vis national laws
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608:
In 2002, SAPs underwent another transition, the introduction of
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Impoverishing a Continent: The World Bank and the IMF in Africa
1619:. Individual evaluation group (IEG), World Bank. Archived from
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István György Tóth; Cas I Country Assistance Strategy (2011).
1450:"The Poverty Reduction and Growth Facility (PRGF) (factsheet)"
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Deglobalization: Ideas for a New World Economy (Global Issues)
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had to compete against each other, causing massive worldwide
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Latin America transformed : globalization and modernity
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The IMF is supported solely by its member states, while the
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Structural adjustment policies were developed by two of the
2768:
This Time is Different: Eight Centuries of Financial Folly
2288:"Pakistan's privatisation dilemma as it seeks IMF bailout"
2048:(2nd ed.). New York: Monthly Review Press. pp.
1406:"IMF Concessional Financing through the ESAF (factsheet)"
2439:"Structural adjustment programmes and human well-being"
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funds its loans with a mix of member contributions and
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opened a new development era and marked the triumph of
156:
1283:(1995). "Structural adjustment and African industry".
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Structural adjustment loans are mainly distributed to
2601:"Structural Adjustment Policies: A Feminist Critique"
2174:. Berkeley: University of California Press. pp.
1943:
Kapur, Devesh (1998). "The IMF: A Cure or a Curse?".
1827:"The Socioeconomic Impacts of Structural Adjustment"
2105:"SAPs: Their origin and international experiences"
1228:
1591:"Structural Adjustment—a Major Cause of Poverty"
1474:. International Monetary Fund. 15 September 2015
823:in 1971 and the end of capital controls caused
746:-led structuralism towards the free market and
578:
486:and lower marginal tax rates, while minimizing
396:Long-term adjustment policies usually include:
27:IMF and World Bank loans to countries in crisis
2624:Signs: Journal of Women in Culture and Society
2109:Labour Resource and Research Institute Namibia
1777:
1727:White, Howard (1996). "Adjustment in Africa".
1219:
1217:
1215:
1213:
1211:
970:SAPs resemble modern, financial colonization.
437:focusing economic output on direct export and
1722:
1720:
1430:. International Monetary Fund. September 1999
742:. The shift away from state intervention and
686:End of the Structuralist model of development
431:formulation of 'governance' and 'corruption')
165:that contextualizes different points of view.
151:to certain ideas, incidents, or controversies
8:
2342:"结构调整_贷款集中度与价值投资_我国商业银行信贷投向政策实证研究 - MBA智库文档"
2168:Cardoso, Fernando H.; Faletto, Enzo (1979).
1319:(1st ed.). W. W. Norton & Company.
2659:"Rise in TB Is Linked to Loans From I.M.F."
2320:. Canadian Centre for Policy Alternatives.
2171:Dependency and development in Latin America
1825:Crisp, Brian F.; Kelly, Michael J. (1999).
1452:. International Monetary Fund. 31 July 2009
1382:"Structural Adjustment is the Wrong Policy"
1231:Structural adjustment in Sub-Saharan Africa
758:Competitive insertion into the world market
678:Structural adjustment programs implemented
413:, of all or part of state-owned enterprises
272:), such as the World Bank, have spoken of "
64:Learn how and when to remove these messages
2001:Bresser-Pereira, Luiz Carlos (June 2019).
1472:"IMF Extended Credit Facility (factsheet)"
1310:
1308:
1306:
766:, economies were restructured to focus on
100:. Please do not remove this message until
2140:"Third World Debt Undermines Development"
2018:
1919:
1842:
1538:"Total laons and credit extended - India"
1408:. International Monetary Fund. April 2004
400:liberalization of markets to guarantee a
199:Learn how and when to remove this message
181:Learn how and when to remove this message
120:Learn how and when to remove this message
1978:"国际货币基金组织贷款条件及其受援国结构调整分析——以1997年以后的韩国为例"
1649:Robert N. Gwynne, Cristóbal Kay (1999).
1500:"Lithuania - Structural Adjustment Loan"
1370:, Oxford University Press, 2016, p. 104.
779:, the situation resembled a large-scale
352:Typical stabilisation policies include:
96:Relevant discussion may be found on the
1765:
1753:
1257:
1255:
1207:
815:Removal of trade and financial barriers
282:Enhanced Structural Adjustment Facility
2483:
2472:
2153:The Socialist Party of Great Britain.
2007:Brazilian Journal of Political Economy
1972:
1970:
1908:International Political Science Review
1706:
1695:
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1493:
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700:Import Substitutions Industrialization
661:. This sought to build upon Classical
2733:The Cambridge History of the Cold War
2413:"Interfering in national sovereignty"
2133:
2131:
2129:
2098:
2096:
1644:
1642:
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1564:"India - structural adjustment loans"
920:Critics claim that SAPs threaten the
601:, multiple economic depressions, and
286:Poverty Reduction and Growth Facility
7:
2385:Ndongo Samba Sylla (1 August 2018).
2286:Munir, Kamal A. (19 December 2018).
622:international financial institutions
386:raising the price of public services
288:, which is in turn succeeded by the
2464:"The Dictionary of Human Geography"
450:e.g. reducing government employment
416:creating new financial institutions
2657:Bakalar, Nicholas (22 July 2008).
1741:10.1111/j.1467-7660.1996.tb00611.x
1366:David B. Audretsch, Erik Lehmann,
696:Structuralist model of development
25:
1902:Brown, Chelsea (September 2009).
1317:Globalization and its Discontents
964:The Dictionary of Human Geography
959:The Dictionary of Human Geography
847:Overall, it can be said that the
610:Poverty Reduction Strategy Papers
511:of currency to stimulate exports;
278:Poverty Reduction Strategy Papers
45:This article has multiple issues.
2574:Journal of International Affairs
2417:D+C, development and cooperation
2391:D+C, development and cooperation
1613:"Structural adjustment in India"
1116:Some of the largest donors are:
916:Undermining national sovereignty
655:the experiences in Latin America
320:($ 1.5 billion for IBRD 85590).
136:
75:
34:
2798:IMF Factsheet on Conditionality
2411:Jurgen Kaiser (3 August 2018).
1831:International Studies Quarterly
1062:IMF SAPs versus World Bank SAPs
1004:Privatisation § Opposition
53:or discuss these issues on the
2268:McGuigan, Claire (July 2007).
1498:Bank, The World (1999-04-12).
1247:lensink structural adjustment.
476:and infrastructure investment;
212:Structural adjustment programs
1:
2741:10.1017/CHOL9780521837217.003
2443:journals2.scholarsportal.info
2221:10.1016/S0301-4215(02)00054-X
2083:Economic and Political Weekly
1877:Economic and Political Weekly
1814:IMF website on conditionality
665:, by utilizing insights from
392:decrementing domestic credit.
18:Structural Adjustment Program
1589:Shah, Anup (24 March 2013).
1368:The Seven Secrets of Germany
1297:10.1016/0305-750x(95)00103-j
1161:Debt of developing countries
614:Millennium Development Goals
237:The IMF and World Bank (two
2818:International Monetary Fund
2138:Shah, Anup (June 3, 2007).
1655:. London: Arnold. pp.
1176:International Monetary Fund
1068:International Monetary Fund
983:International Monetary Fund
710:of the local currency, the
427:(from the perspective of a
374:restructuring foreign debts
359:deficits reduction through
228:International Monetary Fund
220:structural adjustment loans
102:conditions to do so are met
2854:
2773:Princeton University Press
2599:Campbell, Hillary (2010).
2547:Social History of Medicine
2503:International Organization
2437:McGregor, S (2005-05-03).
2364:For another overview, see
2020:10.1590/0101-31572019-2966
1795:Towson.edu webpage on SAPs
1778:Reinhart & Rogoff 2009
1542:www.finances.worldbank.org
1181:Latin American debt crisis
1001:
860:Privatization of utilities
825:multinational corporations
383:eliminating food subsidies
2515:10.1017/S0020818305050046
1342:Culture & Agriculture
1315:Stiglitz, Joseph (2002).
1235:(1st ed.). Longman.
829:foreign direct investment
534:foreign direct investment
1921:10.1177/0192512109342522
1354:10.1525/cag.1997.19.3.85
1266:. Zed Books. p. 43.
1171:IMF Stand-By Arrangement
987:World Trade Organization
941:SAPS are viewed by some
849:debt crisis of the 1980s
773:industrialized countries
720:debt crisis of the 1980s
659:New Developmental Theory
290:Extended Credit Facility
1844:10.1111/0020-8833.00134
1544:. World bank - Finances
653:Largely as a result of
259:liberalization of trade
2482:Cite journal requires
2042:Duncan, Green (2003).
1982:www.wanfangdata.com.cn
1729:Development and Change
1705:Cite journal requires
1515:Cite journal requires
1262:Bello, Walden (2003).
995:
642:Asian financial crisis
638:South Korea after 1997
632:South Korea after 1997
583:
448:government expenditure
2813:Development economics
2236:Multinational Monitor
1027:Postcolonial feminist
979:
729:, very high rates of
542:of state enterprises;
318:Swachh Bharat Mission
284:was succeeded by the
159:by rewriting it in a
2462:Osterhammel (1997).
1191:Washington Consensus
1151:Bretton Woods system
968:Washington Consensus
821:Bretton-Woods-System
785:Developing countries
458:the conditions are:
456:Washington Consensus
361:currency devaluation
302:developing countries
218:) consist of loans (
2759:Reinhart, Carmen M.
2387:"Descent into hell"
2311:Ismi, Asad (2004).
2215:(11–12): 999–1012.
2111:: 3. Archived from
1166:Debt-trap diplomacy
1123:United States (18%)
842:agricultural sector
819:The erosion of the
793:world market prices
716:neoliberal policies
680:neoliberal policies
551:Legal security for
474:primary health care
439:resource extraction
357:balance of payments
89:of this article is
2763:Rogoff, Kenneth S.
2735:. pp. 23–44.
2677:Economic Geography
2662:The New York Times
2559:10.1093/shm/hkp007
2371:2009-04-22 at the
2103:Jauch, H. (1999).
1800:2011-09-27 at the
1023:reproductive labor
931:sub-Saharan Africa
805:protective tariffs
791:and deteriorating
704:state intervention
663:Development Theory
492:market distortions
482:which broaden the
226:) provided by the
2838:Welfare economics
2782:978-0-691-14216-6
2771:. Princeton, NJ:
2750:978-1-107-60231-1
2729:Arrighi, Giovanni
2327:978-0-88627-373-6
1883:(44): 3129–3136.
1617:www.worldbank.org
1568:www.worldbank.org
1291:(12): 2019–2031.
1285:World Development
748:Export Led Growth
470:primary education
296:Regions supported
274:poverty reduction
270:structural reform
251:fiscal imbalances
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2008:
2004:
1997:
1994:
1983:
1979:
1973:
1971:
1967:
1962:
1958:
1954:
1950:
1946:
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1936:
1931:
1927:
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1898:
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1759:
1756:, p. 34.
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1623:on 9 May 2019
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1326:9780393324396
1322:
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1281:Lall, Sanjaya
1276:
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1242:9780582248861
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1189:
1187:
1186:Neoliberalism
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1033:
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1024:
1018:
1016:
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1005:
998:Privatization
997:
994:
992:
988:
984:
978:
976:
975:Immanuel Kant
971:
969:
965:
960:
955:
952:
951:colonization.
948:
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777:primary goods
774:
769:
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764:hard currency
757:
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753:
749:
745:
741:
740:global market
736:
732:
728:
723:
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713:
709:
708:overvaluation
705:
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697:
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685:
683:
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673:
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649:Latin America
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566:Bretton Woods
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554:
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544:
541:
540:Privatization
538:
535:
531:
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520:import quotas
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463:Fiscal policy
461:
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423:and fighting
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407:privatization
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389:cutting wages
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263:privatization
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239:Bretton Woods
235:
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200:
185:
182:
174:
171:February 2013
164:
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133:
124:
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113:
110:February 2013
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99:
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88:
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73:
72:
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65:
58:
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51:
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41:
32:
31:
19:
2767:
2732:
2721:Bibliography
2705:
2680:
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2594:
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2546:
2540:
2531:
2506:
2502:
2496:
2475:cite journal
2457:
2446:. Retrieved
2442:
2432:
2420:. Retrieved
2416:
2406:
2394:. Retrieved
2390:
2380:
2360:
2349:. Retrieved
2345:
2336:
2313:
2306:
2295:. Retrieved
2291:
2281:
2263:
2239:
2235:
2229:
2212:
2208:
2202:
2170:
2163:
2148:
2117:. Retrieved
2113:the original
2108:
2086:
2082:
2076:
2044:
2037:
2010:
2006:
1996:
1985:. Retrieved
1981:
1944:
1938:
1911:
1907:
1897:
1880:
1876:
1870:
1861:
1834:
1830:
1820:
1808:
1789:
1773:
1768:, p. 35
1766:Arrighi 2010
1761:
1754:Arrighi 2010
1749:
1732:
1728:
1698:cite journal
1683:
1651:
1625:. Retrieved
1621:the original
1616:
1607:
1595:. Retrieved
1584:
1572:. Retrieved
1570:. World Bank
1567:
1558:
1546:. Retrieved
1541:
1508:cite journal
1476:. Retrieved
1466:
1454:. Retrieved
1444:
1432:. Retrieved
1422:
1410:. Retrieved
1400:
1389:. Retrieved
1385:
1375:
1367:
1362:
1348:(3): 85–93.
1345:
1341:
1335:
1316:
1288:
1284:
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1115:
1104:
1082:
1065:
1056:
1053:
1047:
1044:
1037:
1019:
1011:
1007:
980:
972:
963:
958:
956:
940:
927:rent-seeking
919:
910:
901:
876:and others.
863:
846:
818:
761:
735:crowding out
724:
689:
677:
652:
637:
635:
626:
618:
607:
592:
588:
584:
579:
570:
563:
546:Deregulation
503:Competitive
453:
395:
351:
342:
334:
330:
327:
307:As of 2018,
306:
299:
269:
267:
248:
236:
223:
219:
215:
211:
210:
195:
177:
168:
160:
149:undue weight
146:
116:
107:
85:
61:
54:
48:
47:Please help
44:
2713:on lending.
2711:IMF website
2683:(1): 1–24.
1386:web.mit.edu
1129:Canada (2%)
1015:Naomi Klein
985:(IMF), and
937:Imperialism
922:sovereignty
698:relying on
603:stagflation
599:debt crisis
509:devaluation
480:Tax reforms
465:discipline;
411:divestiture
255:free market
2823:World Bank
2807:Categories
2448:2016-02-10
2422:29 October
2396:29 October
2366:Towson.edu
2351:2020-04-27
2297:2021-02-24
2119:2018-11-12
1987:2020-04-24
1780:, p.
1627:29 October
1597:29 October
1574:29 October
1548:29 October
1391:2022-06-27
1202:References
1196:World Bank
1107:World Bank
1072:World Bank
1070:(IMF) and
1002:See also:
907:Criticisms
880:Advantages
801:free trade
752:capitalism
690:After the
595:oil crisis
532:of inward
429:neoliberal
425:corruption
421:governance
419:improving
348:Conditions
232:World Bank
87:neutrality
50:improve it
2523:145763310
2255:208882987
2248:A79179772
2242:(9): 14.
2029:219946304
1930:145356232
1478:5 October
1456:5 October
1434:5 October
1412:5 October
1040:austerity
1034:Austerity
870:Nicaragua
868:, Ghana,
809:subsidies
797:cash crop
781:price war
731:inflation
446:reducing
370:austerity
339:Financing
98:talk page
56:talk page
2765:(2009).
2709:See the
2586:24357632
2369:Archived
2251:ProQuest
2068:53907487
1798:Archived
1675:41247780
1227:(1996).
1140:See also
1079:IMF SAPs
874:Pakistan
866:Cameroon
733:and the
484:tax base
91:disputed
2644:2073323
2375:'s page
2194:4847028
1961:1149382
1889:4408573
1853:2600942
1132:Germany
1092:⁄
945:as the
837:Faletto
833:Cardoso
768:exports
560:History
454:In the
155:Please
2779:
2747:
2697:143887
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2066:
2056:
2027:
1959:
1928:
1887:
1851:
1673:
1663:
1323:
1239:
1135:France
2833:Loans
2693:JSTOR
2640:S2CID
2605:Sigma
2582:JSTOR
2519:S2CID
2467:(PDF)
2318:(PDF)
2273:(PDF)
2025:S2CID
1957:JSTOR
1926:S2CID
1885:JSTOR
1849:JSTOR
1126:Japan
636:Take
409:, or
324:Goals
309:India
147:lend
2777:ISBN
2745:ISBN
2611:(1).
2488:help
2424:2018
2398:2018
2322:ISBN
2244:Gale
2190:OCLC
2180:ISBN
2064:OCLC
2054:ISBN
1812:See
1793:See
1711:help
1671:OCLC
1661:ISBN
1629:2018
1599:2018
1576:2018
1550:2018
1521:help
1502:: 1.
1480:2015
1458:2015
1436:2015
1414:2015
1321:ISBN
1237:ISBN
1156:Debt
835:and
807:and
694:, a
490:and
314:IBRD
224:SALs
216:SAPs
84:The
2737:doi
2685:doi
2632:doi
2555:doi
2511:doi
2217:doi
2176:160
2015:doi
1949:doi
1916:doi
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