@article{Heidhues:155490,
      recid = {155490},
      author = {Heidhues, Franz and Obare, Gideon A.},
      title = {Lessons from Structural Adjustment Programmes and their  Effects in Africa},
      journal = {Quarterly Journal of International Agriculture},
      address = {2011-02},
      number = {892-2016-65193},
      series = {Quarterly Journal of International Agriculture 50 (2011)},
      pages = {10},
      year = {2011},
      abstract = {After independence around 1960, African countries started  with high hopes for rapid
growth and development. Whereas  the initial performance was remarkable,  economic
development slowed in the 1970s and stagnated in  the 1980s. In response, the states’ attempts to  reinvigorate economic growth through state-led investments  and import substitution industrialisation strategies were  unsuccessful. The World Bank, the International Monetary  Fund and Western donors developed and advocated Structural  Adjustment Programmes (SAPs), which emphasised  macroeconomic stabilisation, privatisation and free market  development. The SAP approach has generated considerable  debate within African countries and development circles.  While proponents
argued that the reforms were essential and  without alternatives, critics charged that
SAPs paid  insufficient attention to the social dimension of  development and to the
institutional weaknesses of  developing countries. The debate continues. This  paper
discusses the pro and contra arguments of the debate,  presents lessons learned, and
draws conclusions for future  policy priorities.},
      url = {http://ageconsearch.umn.edu/record/155490},
      doi = {https://doi.org/10.22004/ag.econ.155490},
}