State and Market in Development: Synergy or Rivalry?

By Louis Putterman; Dietrich Rueschemeyer | Go to book overview

11
The State in the Initiation
and Consolidation of
Market-Oriented Reform

STEPHAN HAGGARD & ROBERT KAUFMAN

During the 1980s, severe fiscal and balance-of-payments crises pushed the question of structural adjustment to the top of the political agenda in many developing countries. The call for a market-oriented conception of adjustment came from a wide array of international and domestic forces, including the IMF and the World Bank, the governments of the advanced industrial states, and economists and segments of business and finance in both the developed and developing countries. Not all countries have responded to these pressures in the same way, and there is substantial debate over the effects of such reforms on both growth and equity. Whatever their impact, however, there has been widespread change in the nature of economic discourse and the direction of public policy itself.

In this chapter, we focus on the role played by government officials and the state apparatus in the initiation and consolidation of such policy changes. Several assumptions and caveats should be made explicit at the outset. We will use the term “structural adjustment” to refer to “orthodox” policy packages that include macroeconomic stabilization, with an emphasis on fiscal and monetary policy; the liberalization of goods and factor markets through deregulation and reduction of external barriers and controls; and the privatization of the state-owned enterprise sector. A broader definition would encompass alternative adjustment strategies: more “activist” forms of macroeconomic management that rely on wage and price controls or industrial policies that place greater emphasis on targeted sectoral interventions and the state-owned enterprise sector. We do have an interest in examining why such alternative strategies have persisted or prevailed in particular countries. But in the 1980s, the concept of “structural adjustment” was generally associated with a neoliberal policy project, and it is the political economy of that project that is the subject of this chapter.

It is also important to underline that we do not seek to enter directly into the normative debate over the economic or social wisdom of such reforms; these issues are addressed competently by other chapters in this volume.

-221-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
State and Market in Development: Synergy or Rivalry?
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 281

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.