Adjustment and Poverty: Options and Choices (Priorities for Development Economics)

The last decade has brought sharp adjustment and rising poverty for most of the developing world. Adjustment and Poverty: Options and Choices examines the major causes and results of this situation, including: \*the relationship between structural adjustment and poverty; \*the extent to which the situation was brought about by internal and/or external policies; \*the impact of the IMF and World Bank on adjusting countries; \*government tax and spending policies - with a particular focus on social sector spending; \*the possiblity of better policies in the future.

Adjustment and Poverty examines the major causes and results of the last decade of sharp adjustment and rising poverty for the developing world. The oil crises of the 1970s and the recession of the early 1980s set in motion a chain of events which has particularly serious consequences for these areas. Frances Stewart examines the relationship between adjusting policies and poverty during the 1980s and assesses the extent to which the relationship was the result of the exogenous and/or endogenous policies. Stewart also analyzes the impact of the IMF and World Bank macropolicies on adjusting countriesboth in theory and practiceand discusses government tax and expenditure policies, focusing on social setting factors. Stewart also identifies and assesses policies for the future. Experiences in Africa and Latin America, areas where poverty is highest, are contrasted with areas which were able to combine adjustment with protection for the poor.

1. Introduction -- 2. The Impact Of Macro-adjustment Policies On The Incomes Of The Poor -- A Review Of Alternative Approaches -- 3. Meso-policy Choices And The Poor -- 4. Food Subsidies: Two Errors Of Targeting / Frances Stewart And Giovanni Andrea Cornia -- 5. Adjustment And Social Funds: Political Panacea Or Effective Poverty Reduction? / Frances Stewart And Willem Van Der Geest -- 6. Structural Adjustment Policies And The Poor In Africa: An Analysis Of The 1980s / Frances Stewart And Anuradha Basu -- 7. The Latin American And Caribbean Story -- 8. Conclusions. Frances Stewart. Includes Bibliographical References (p. [217]-231) And Index. Preliminaries......Page 1 Contents......Page 7 List of diagrams charts and tables......Page 8 Series editor’s preface......Page 11 Preface......Page 13 1 Introduction......Page 14 2 The impact of macro-adjustment policies on the incomes of the poor-a review of alternative approaches......Page 34 3 Meso policy choices and the poor......Page 64 4 Food subsidies: two errors of targeting......Page 96 5 Adjustment and social funds......Page 123 6 Structural adjustment policies and the poor in Africa......Page 153 7 The Latin American and Caribbean story......Page 186 8 Conclusions......Page 208 Bibliography......Page 232 Index......Page 249 Economics, Finance, Business & Industry Preliminaries 1 Contents 7 List of diagrams charts and tables 8 Series editor’s preface 11 Preface 13 1 Introduction 14 2 The impact of macro-adjustment policies on the incomes of the poor-a review of alternative approaches 34 3 Meso policy choices and the poor 64 4 Food subsidies: two errors of targeting 96 5 Adjustment and social funds 123 6 Structural adjustment policies and the poor in Africa 153 7 The Latin American and Caribbean story 186 8 Conclusions 208 Bibliography 232 Index 249 Annotation Do the structural adjustment policies of the World Bank/ IMF make the World's poorest people even poorer? Frances Stewart was one of the first people to start this debate with her book Adjustment with a Human Face. Returning to the subject half a decade latter she critically analyses the extent to which things have changed for the better The last decade has bought sharp adjustments and rising poverty to much of the developing world. The experiences of Africa and Latin America are contrasted with areas which were able to combine adjustment with protecting the poor Reviews the relationship between adjustment policies and poverty during the 1980s, focusing on why some countries succeeded in adjusting without an unacceptable deterioration in human conditions, while the majority did not