The Politics of Economic Adjustment
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The Politics of Economic Adjustment : International Constraints, Distributive Conflicts and the State

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In the 1980s some developing countries adopted orthodox market-oriented policies in response to international economic crises, others experimented with alternative programs, and still others failed to develop coherent adjustment strategies of any sort. Building on the case studies in Economic Crisis and Policy Choice, these essays offer comparative analysis of these divergent experiences with macroeconomic stabilization and structural adjustment. Barbara Stallings and Miles Kahler explore the external pressures on governments. Peter Evans and John Waterbury examine the role of the state in the adjustment process, Evans through the lens of earlier historical experience with economic restructuring, Waterbury by focusing on the politics of privatization. Joan Nelson analyzes the politics of income distribution in the adjustment process, and Haggard and Kaufman investigate the political correlates of inflation and stabilization. A final essay assesses the prospects for combining market-oriented reforms with political democratization.

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Product details

  • Paperback | 376 pages
  • 154.4 x 235.5 x 23.4mm | 535.25g
  • Princeton University Press
  • New Jersey, United States
  • English
  • New.
  • black & white illustrations
  • 0691003947
  • 9780691003948

Back cover copy

This collection of essays offers new comparative analysis of these divergent experiences with macroeconomic stabilization and structural adjustment.

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Review quote

"An impressive effort to summarize the political legacy of economic reform, and to clarify the elusive relationship between political transition and economic change. In its comparative breadth and theoretical depth, this volume has few peers in the contemporary literature in comparative political economy."--American Political Science Review

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Table of contents

List of Figures and TablesContributorsPrefaceIntroduction: Institutions and Economic Adjustment3Pt. IInternational ConstraintsCh. 1International Influence on Economic Policy: Debt, Stabilization, and Structural Reform41Ch. 2External Influence, Conditionality, and the Politics of Adjustment89Pt. IIThe State and the Politics of AdjustmentCh. 3The State as Problem and Solution: Predation, Embedded Autonomy, and Structural Change139Ch. 4The Heart of the Matter? Public Enterprise and the Adjustment Process182Pt. IIIDistributive PoliticsCh. 5Poverty, Equity, and the Politics of Adjustment221Ch. 6The Political Economy of Inflation and Stabilization in Middle-Income Countries270Pt. IVConclusionCh. 7Economic Adjustment and the Prospects for Democracy319Index351

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