1945

Policy reforms and agricultural development in LDCs

Beginning in about the early 1980s, a large number of developing countries embarked on economic reform programmes in response to low and, in many cases, negative rates of economic growth, and unsustainable external and internal economic imbalances. Generically referred to as structural adjustment programmes (SAPs), the reforms have been associated with the International Monetary Fund (IMF) and the World Bank. The latter in particular has been pivotal in the design and implementation, and funding, of SAPs through conditional lending. Although reform components and timing vary significantly between countries, a common feature is a reorientation of policy towards greater reliance on market forces for allocation of resources.

Related Subject(s): Economic and Social Development
Sustainable Development Goals:
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