The classical approach towards adjustment has proved to have considerable shortcomings, particularly in connection with supply response issues and the conditions for re-establishing sustainable growth. The following article concludes that sustainable stabilisation and adjustment require a...

One of the more unhappy effects of the recent, massive rise in the price of crude oil has been its impact on those developing countries not fortunate enough to be oil exporters themselves. The authors offer a proposal for rechanneling some of the oil revenues to the impacted developing countries.