Chapter

IMF and World Bank Structural Adjustment Programs and Poverty

Edited by William Easterly

in Managing Currency Crises in Emerging Markets

Published by University of Chicago Press

Published in print February 2003 | ISBN: 9780226155401
Published online February 2013 | e-ISBN: 9780226155425 | DOI: http://dx.doi.org/10.7208/chicago/9780226155425.003.0012
IMF and World Bank Structural Adjustment Programs and Poverty

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This chapter examines the impact of the structural adjustment programs of the International Monetary Fund (IMF) and the World Bank on poverty reduction. It argues that structural adjustment, measured by the number of adjustment loans from the IMF and World Bank, reduces the sensitivity of poverty reduction to the rate of growth. Economic growth does reduce poverty but there is no evidence for a direct effect of structural adjustment on the average rate of growth. In fact, the poor benefit less from output expansion in countries with many adjustment loans than in countries with few.

Keywords: structural adjustment programs; poverty reduction; IMF; World Bank; economic growth; poor people

Chapter.  11849 words.  Illustrated.

Subjects: International Economics

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