Publisher's Synopsis
This book examines and appraises the results of 18 recent studies undertaken by the World Institute for Development Economics Research (WIDER) of the United Nations University to investigate the experiences developing countries have had with stabilization programmes.;The author is critical of the orthodox "neoclassical" or "monetarist" approach of the International Monetary Fund and the World Bank, and compares these with the method in which WIDER research teams approached the problem of stabilization from "structuralist" macroeconomic theory. He argues that different economies with different institutional relationships and varying lines of causality in their economic systems require different approaches to stabilization.;The book concludes by addressing the problem of how the Fund/Bank market-oriented methodology can be modified to deal with the macroeconomic linkages beyond its control and how stabilization can be geared towards growth.
