Savard, Luc; Adjovi, Épiphane - In: L'Actualité Economique 74 (1998) 3, pp. 523-560
In developing countries, Structural Adjustment Programs (SAP) have been implemented in order to correct internal and external disequilibriums. Two main characteristics of SAP are 1) the reduction of public expenditure and 2) the liberalization of the economy. Considering that an important part...