Structural Adjustment: Theory, Practice and

This volume examines the Structural Adjustment Programs of the International Monetary Fund and the World Bank and their wider implications in a development context. Focusing on Africa, Latin America and Asia, the book reviews the political, environmental, economic and social impacts of Structural Adjustment Programs and demonstrates the harsh effects they can have, which can undermine development.

List of illustrations

ix

Notes on contributors

xi

Preface and prospectus

xiii

Abbreviations

xix

PART I Histories and theories of adjustment

1

(38)

Introduction

1

(2)

The long road to structural adjustment

3

(21)

Alfred B. Zack-Williams

ED Brown

Giles Mohan

Introduction

3

(1)

The post-colonial state and the imperative for reform

4

(7)

The debt crisis

11

(3)

The Bretton Woods Institutions, the Third World and the neo-liberal consensus

14

(5)

Conclusion

19

(5)

What is structural adjustment?

24

(15)

Bob Milward

Introduction

24

(1)

The development of structural adjustment

24

(2)

The role of the international financial institutions

26

(2)

The neo-classical paradigm

28

(5)

The policy options

33

(2)

Critique of the neo-classical model

35

(2)

Conclusion

37

(2)

PART II Adjustment in practice

39

(78)

Introduction

39

(2)

The macro-economic impacts of structural adjustment lending

41

(18)

Bob Milward

Introduction

41

(1)

General trends in economic performance

41

(1)

Policy reforms and outcomes

42

(16)

Conclusion

58

(1)

Social consequences of structural adjustment

59

(16)

Alfred B. Zack-Williams

Introduction

59

(1)

The effects of SAPs on poverty and well-being

60

(3)

Locating winners and losers

63

(1)

SAPs and the gender gap

64

(2)

Coping with adjustment

66

(3)

SAPs and poverty alleviation

69

(4)

Conclusion

73

(2)

Contested sovereignty and democratic contradictions: the political impacts of adjustment

75

(20)

Giles Mohan

Introduction

75

(1)

The state--market debate and the neo-liberal backlash

76

(4)

Contested autonomy: the politics of policy formulation

80

(5)

The paradoxes of implementing adjustment

85

(5)

The IFIs respond: the issue of governance

90

(3)

Conclusion: resistance and new political spaces

93

(2)

The environmental aspects of adjustment

95

(22)

Giles Mohan

Introduction

95

(1)

(Un)sustainable development, the ideology of science and SAPs

96

(3)

The political ecology of SAPs

99

(3)

The impacts

102

(4)

Case studies

106

(4)

Responses to environmental impacts

110

(5)

Ways ahead

115

(2)

PART III Alternatives to adjustment

117

(74)

Introduction

117

(2)

Tinkering with the system: adjusting adjustment

119

(26)

ED Brown

Introduction

119

(1)

Negotiating with Big Brother: conditionality or consensus?

120

(5)

The institutional debate

125

(14)

Conclusions: the post-Washington consensus?

139

(6)

The search for more radical alternatives

145

(26)

ED Brown

Introduction

145

(1)

The international dimension

146

(10)

Restructuring the socialist alternative

156

(5)

The state of the left today

161

(2)

The search for renewal

163

(8)

Social movements, the state and civil society

171

(20)

ED Brown

Grassroots economic strategies

173

(3)

The NGO-isation of the world

176

(4)

The left and the grassroots movements

180

(6)

Social movements and the wider political arena

186

(1)

Conclusion

187

(4)

Bibliography

191

(21)

Index

212

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Structural Adjustment: Theory, Practice and Impacts

Summary

Table of Contents

Supplemental Materials