Mohan, Giles and Chiyemura, Frangton
(2020).
| DOI (Digital Object Identifier) Link: | https://doi.org/10.1016/B978-0-08-102295-5.10712-7 |
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| Google Scholar: | Look up in Google Scholar |
Abstract
Structural adjustment refers to the comprehensive economic programs that the major international lenders require of developing countries when they are granted a loan. These structural adjustment programs—originally called SAPs—require liberalization of the economy so that markets can function more easily and the recipient countries are more open to foreign investment. There have been mixed results as part of the structural adjustment process, with most programs having negligible or negative impacts. Worst hit are the poor and vulnerable, who suffer unemployment, job insecurity, rising prices, reduced services, and ecological marginalization. Politically, SAPs signal a further erosion of autonomy for developing countries and they create parallel governments run by unaccountable technical experts. This centralization is set against claims to decentralize control and decision-making to the localities. SAPs have changed names, but remain a key part of the international development scene, not least with Greece's recent bail-out.
| Item Type: | Book Section |
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| Copyright Holders: | 2020 Elsevier Ltd. All rights reserved. |
| ISBN: | 0-08-102296-4, 978-0-08-102296-2 |
| Keywords: | Africa; autonomy; conditionality; developing countries; financial crisis; governance; International Monetary Fund; neoliberalism; poverty reduction; privatization; structural adjustment; transition; uneven development; World Bank |
| Academic Unit/School: | Faculty of Arts and Social Sciences (FASS) > Social Sciences and Global Studies > Development Faculty of Arts and Social Sciences (FASS) > Social Sciences and Global Studies Faculty of Arts and Social Sciences (FASS) |
| Research Group: | International Development & Inclusive Innovation |
| Item ID: | 68655 |
| Depositing User: | Frangton Chiyemura |
| Date Deposited: | 06 Jan 2020 11:29 |
| Last Modified: | 13 Jan 2020 14:44 |
| URI: | http://oro.open.ac.uk/id/eprint/68655 |
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