A sudden and radical reversal of financial flows to developing countries has occurred since 1982. Controversy exists, however, as to the scale of the actual outflow of resources and as to whether too much emphasis has been placed in the past on adjustment efforts. The following article attempts...

One of the arguments put forward to support the claim that an unfavourable world economic environment is impeding effective structural adjustment in developing countries is the premise that the flow of resources to indebted developing countries is not only insufficient but also declining and has...

Long before the socialist industrialized nations began to call their centrally planned, or government controlled, economies into question, policymakers in many developing countries with dirigistic, interventionist systems, including capitalist oriented ones, had started to rethink their economic...

The Brady Initiative has led to the conclusion of several debt-relief agreements. Opinion on the effects of these agreements on the debtor countries involved vary widely. The following article aims at clarifying the debate.

Exchange-rate strategies may be used to pursue the most varied objectives as instruments of development policy or of structural adjustment. The following article will examine the advantages and disadvantages of a number of exchange-rate policy options.

The United Nations Committee for Development Planning (CDP) in its annual report 1991 has attempted to redefine and update the list of countries classified as least developed in order to give guidance to donor agencies and countries about an equitable allocation of foreign assistance. We have...

"Development" can be defined and measured in a great variety of ways. The human development index used by the United Nations Development Programme represents an attempt to place the emphasis on human welfare rather than on the progress of the national economy. This index, however, contains a...

"Good governance" has become a central term in the international discussion on development co-operation. What is actually meant by "good governance"? By which yardstick can it be measured? How is governance related to development, political participation and democracy? What implications does...