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Adjustment experience and growth prospects of the semi-industrial economies (anglais)

This paper presents an analytical framework for quantifying the relative importance of demand management (absorption) and structural adjustment (expenditure and output switching between tradeable and non-tradeable goods, and accelerated growth of output) in the adjustment process. The experience of forty-two developing countries in adjusting to adverse developments in the international economy during the mid-1970s is analyzed using this framework...
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