Failure of Structural Adjustment Programmes in Sub-Saharan Africa: Policy Design or Policy Implementation?
Journal Title: Journal of Empirical Economics - Year 2014, Vol 3, Issue 5
Abstract
World Bank/International Monetary Fund adjustment programmes prescribed for ailing Third World economies have been described as a failure. The aim of the article is to assess if the failure is due to the policies as designed by the World Bank/IMF. or as results of implementation by adjusting nations. Twenty peer review journal articles on SAP programmes from 1990 to 2005 covering varied SSA countries and regions, socio-economic needs, and many approaches form the data for the study. The publications are summarised and presented. The results are then discussed (1) to confirm or otherwise the failure; and (2) to ascertain if the failure results from policy design or policy implementation. It is found that SSA is integrated into the global economy as a result of SAPs; needs assessment are rarely conducted before programme prescriptions; there is lack of commitment from governments of adjusting nations; and adjustment programmes are unable to „adjust‟ the ailing economies. it is concluded that SAPs have produced abysmal results signifying a failure, which is mostly attributed to policy design than policy implementation.
Authors and Affiliations
Nana Yaw Oppong
Keywords
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