Degree Name
Master of Arts (MA)
Semester of Degree Completion
1995
Thesis Director
Mark Weisbrot
Abstract
The IMF and the World Bank began to attach structural adjustment restrictions to many of their loans to developing countries in the early 1980s. Some of these restrictions are not based on solid economic ground and are, in many cases not effective in improving the economic standing of the countries that receive loans. In addition, there was also a misdiagnosis of the problems that occurred in the underdeveloped countries of the world. Under the IMF/World Bank paradigm, the difficulties that most underdeveloped countries experienced were due to internal distortions and non-effective development strategies. Evidence to the contrary shows that many of the problems that these underdeveloped nations experienced in the 1970s and early 1980s were mainly exogenous and out of the control of the individual countries, such as: Two severe oil shocks, a world wide recession, and increased real interest rates.
Recommended Citation
Reznick, Douglas A., "The Stabilization and Structural Adjustment Procedures of the International Monetary Fund and the World Bank" (1995). Masters Theses. 1991.
https://thekeep.eiu.edu/theses/1991
