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Conditionality and South-East Asian adjustment

Conditionality and South-East Asian adjustment

Marr, Ana ORCID: 0000-0002-8764-5682 (1996) Conditionality and South-East Asian adjustment. Working Paper. Overseas Development Institute, London, UK. (doi:94)

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This study aims to assess the importance of conditionality in the adoption of adjustment policies in a group of South-East Asian economies. For this purpose,conditionality is taken as referring to the changes in the economic policy that international financial institutions (IFIs) require of national governments in the course of adjustment. The study will concentrate mainly on the policy-related lending provided by the World Bank; wherever pertinent, IMF conditionality will also be investigated.

The countries covered are South Korea, Thailand, Indonesia, Malaysia and the Philippines. These countries are seldom thought of as 'adjusting', but in fact most of them have been extremely successful adjusters. The Philippines, as the exception in the group, illustrates the case of a country which, having been the recipient of highly conditional loans from outside agencies, failed to achieve complete success in its economic adjustment. There are therefore some relevant questions to be asked. Did outside agencies affect the policies adopted? Did they do so through conditionality or by means of influence, persuasion, financial support, etc.? What degree of responsibility should be attached to external institutions? Was the conditionality too harsh or too weak?

The study is divided into two periods. The first covers the period from the late 1950s to the late 1970s and the second, from the early 1980s to the early 1990s. Although the difference between the two periods cannot be regarded as a turning point, the 1980s saw an emphasis on the formulation and implementation of adjustment policies.

Item Type: Monograph (Working Paper)
Additional Information: [1] Working Paper 94.
Uncontrolled Keywords: conditionality, aid, South East Asia, economy
Subjects: H Social Sciences > HG Finance
Faculty / School / Research Centre / Research Group: Faculty of Engineering & Science > Natural Resources Institute
Faculty of Engineering & Science > Natural Resources Institute > Food & Markets Department
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Last Modified: 22 Oct 2020 17:09

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