Structural adjustment and the IMF and world bank.docx

1 Page
Unlock Document

University of Toronto St. George
Political Science
Antoinette Handley

Structural adjustment and the IMF and world bank Why sd? Shifting ideological currents at the global level (rise of neoliberals ie Reagan ansd thatcher) Poor performance of earlier loans and grants : thus, require conditionality in order to ensure implementation and effectiveness Analysis of the crises that places blame overwhelmingly on state intervention and mismanagement Economists in IMF WB crises: the policies African leaders adopted are fundamentally wrong, not blame for external factors, solution would be domestic policies change The Washington consensus- premise: state intervention should be reduced thus allowing economic decision making to be governed by market forces Rationale: market is more economically efficient The African state is so corrupt that everything should be done to reduce its role in economic development Basic weakness: highly ideological, bug bang, one-size fits all, prescription, particularly in 1980s and early 1990s Broad objectives: enhance exports, strengthen agrilculture, attract foreign investment to sti
More Less

Related notes for POL301Y1

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.