Industrialisation as a structural determinant of inflation performance in IMF stabilisation programmes in less developed countries |
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| Authors: | Colin Kirkpatrick Ziya Onis |
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| Institution: | 1. Colin Kirkpatrick is Senior Lecturer in Economics , University of Manchester;2. Visiting Senior Fellow, Department of Economics and Statistics , National University of Singapore , Kent Ridge , Singapore;3. Lecturer in Economics , Bogazici University , Turkey |
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| Abstract: | This article considers the impact of IMF stabilisation programmes on inflation performance in LDCs. It is argued that the success of a programme in effecting a change in the inflationary process will be influenced by the structural characteristics of the economy and in particular by the stage of industrialisation reached. The empirical analysis is based on a sample of LDCs which undertook adjustment programmes supported by Fund resources during the 1970s, and the results obtained are consistent with the hypothesis of an association between economic structure and inflation performance. |
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