Graham Bird
Abstract
The principal cause of the balance of payments deficits of the non-oil developing countries has altered since 1973: exogenous factors now play a far more important role than previously. The appropriateness of the conditions conventionally attached to IMF drawings needs to be re-examined in this light.
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The principal cause of the balance of payments deficits of the non-oil developing countries has altered since 1973: exogenous factors now play a far more important role than previously. The appropriateness of the conditions conventionally attached to IMF drawings needs to be re-examined in this light.
Key concepts: Conditionality, Balance of payments, Social policy, Developing country, European integration, Principal (computer security), Current account, Balance (ability)