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Market Forces and World Development pp 128–159Cite as

Palgrave Macmillan

Education and Adjustment: The Experience of the 1980s and Lessons for the 1990s

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Abstract

The 1980s was a decade of adjustment for much of the Third World, especially for most countries in Africa and Latin America. The stabilisation and adjustment policies followed — mainly under the auspices of the IMF and World Bank — were necessitated by major imbalances that developed in the early 1980s and persisted for much of the decade. Many countries suffered very large deficits in their external accounts, with the value of imports plus payments due on their debt greatly exceeding the value of their exports, while budget deficits were also pervasive.

This is a revised version of a paper prepared for the Commonwealth Secretariat. I am grateful for their permission to publish it here, and to Robert Cassen for comments on an earlier draft.

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Author information

Authors and Affiliations

  1. Queen Elizabeth House, University of Oxford, UK

    Frances Stewart (Director)

Authors
  1. Frances Stewart
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Editor information

Editors and Affiliations

  1. The Queen’s University of Belfast, UK

    Renee Prendergast (Lecturer in Economics) (Lecturer in Economics)

  2. Queen Elizabeth House, University of Oxford, UK

    Frances Stewart (Director) (Director)

Copyright information

© 1994 Development Studies Association

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Cite this chapter

Stewart, F. (1994). Education and Adjustment: The Experience of the 1980s and Lessons for the 1990s. In: Prendergast, R., Stewart, F. (eds) Market Forces and World Development. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23138-6_8

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