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What explains the success or failure of structural adjustment programs? (anglais)

In the 1980s development assistance shifted largely from financing investments (such as roads and dams) to promoting policy reform. This change came because of a growing awareness that developing countries were held back more by poor policies than by a lack of finance for investment. After nearly 20 years' experience with policy-based or conditional lending, there have now been many studies of adjustment lending, most of which take a case-study approach...
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