1. Structural adjustmen programs
Removal of state subsidies and tariff barriers may have adversely affected the standard of living of workers and the growth prospects of certain industrial sectors in the periphery, but they were needed medicine in order to get the prices right Western development institutions, notably the IMF, the World Bank and their major members attributed poor records to the prevailing policies and strategies of development which had been pursued in the post-war era. ... As Adrian Leftwich notes, the aim of adjustment was to shutter the dominant post-war, state-led development paradigm and overcome the p...
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