Adjustment and Beyond: The Reform Experience in South Asia examines the experience of structural adjustment from the point of view of selected countries and the theory behind its application. Are further liberalization, privatization and opening of markets the way forward?

Wahiduddin Mahmud is Professor of Economics at University of Dhaka.

Preface Acknowledgements Abbreviations and Acronyms Notes on the Contributors Introduction: W.Mahmud PART I: COUNTRY OVERVIEWS The Indian Economy: Looking Ahead; I.J.Ahluwalia Macroeconomic Reforms in India: Short-tern Effects and Long-run Implications; D.Nayyar Bangladesh: Structural Adjustment and Beyond; W.Mahmud Structural Adjustment, Employment and Poverty in Pakistan; A.R.Kemal Slow Adjustment and Faster Growth in Sri Lanka; G.Uswatte-Aratchi PART II: GLOBALIZATION AND DEVELOPMENT MACROECONOMICS Which Macroeconomic Policies are Sound?; M.Dailami & N.U.Haque Theoretical Premises of Structural Adjustment: A Critique; P.Patnaik Capital Surges, Investment Instability and Income Distribution after Financial Liberalization; E.V.K.FitzGerald Boom and Bust in Capital Flows to Developing Countries; P.Nunnenkamp Trade in the 2000s: New Rules, New Preferences, New Priorities; S.Page PART III: ADJUSTMENT AND POVERTY Adjustment and Poverty in Asia: Old Solutions and New Problems; F.Stewart Growth and Poverty During Adjustment: The Lessons from Sub-Saharan Africa; S.R.Osmani PART IV: SUSTAINABILITY OF REFORMS Sequencing and the Sustainability of Adjustment in India; J.Toye Missing Markets or Missing Institutions? The Sustainability of Reform; W.van der Geest PART V: COMMENTS: BEYOND ADJUSTMENT AND EMERGING ISSUES N.Islam K.Hamada D.Lai A.Bagchi Index of Names Subject Index