Structural Adjustment

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Structural Adjustment

A government program in a developing country making changes to economic or monetary policies in order to better facilitate growth. For example, a structural adjustment loan may include a stipulation that the borrowing country relax any protectionist subsidies or impose higher taxes to balance the budget. Structural adjustments are necessary in some cases before the IMF or the World Bank will make loans to finance further development. See also: Structural Adjustment Facility.
References in classic literature ?
Some day the study of metabolism may progress so far as to enable us to accept structural changes proceeding from an intellectual or moral base.
The general point is that the flattening of the Phillips curve can be due to very different types of structural changes and the type of structural change is crucial for policy implications.
The short answer is Africa needs structural change to grow, to create jobs, and to reduce poverty, and the driving force behind structural change has historically been industry.
Earlier, the government has imposed regulatory duty on the import of 570 items and the withdrawal of the duty on LPG is in contrast to the structural change.
Classically, structural change in an economy takes place over time with a rise in the relative share of the manufacturing sector followed by a rise in the relative share of the services sector.
Our focus is on the patterns of structural change these countries have experienced.
Looking in turn at new trade policies for structural change and at new investment policies for structural change in Africa, economists and consultants consider such topics as the role of international organizations in promoting agricultural export trade in sub-Saharan Africa, whether a revived breadbasket strategy for Sudan is a viable approach to export diversification, structural transformation in Nigeria: steering foreign direct investment towards inclusive growth, and Tunisia's progress in integrating into global value chains: achievements and obstacles.
Moreover, the effect of structural change on overall energy intensity change may be either positive or negative during a particular period, which may lead to puzzles when the whole process covers both "positive" and "negative" parts.
The BOK chief insisted such a shift stemmed largely from a structural change, which was partly caused by a change in demographics and the way people spend money.
The aim of this essay is to analyze, in a comparative perspective, the relation between structural change, the process of globalization and economic growth in two great emerging economies, China and India, in their period of rapid development.
"I am pleased we appear to be moving in the direction of separating interest rate risk and credit risk and that structural change alone is sufficient for me to believe an additional comment period would be appropriate," he added.
An Information Paper published earlier this year by the Royal Institution of Chartered Surveyors entitled High Streets: Adapting to Change looks at the drivers of change and distinguishes between economic slow down and structural change.

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