This paper analyzes policy responses to external shocks of the 1973-76 and 1979-81 periods in developing economies, grouped according to the level of industrialization and the policies applied. It is shown that outward-oriented economies relied largely on export promotion and import substitution to offset the balance-of-payments effects of external shocks in both periods. Inward-oriented economies failed to apply such output-increasing policies of...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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1984/09/30
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Журнальная статья
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REP312
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1
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1
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2010/07/01
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Adjustment policies in developing countries : a reassessment
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external shock