The oil crisis of the 1970s and the recession of the 1980s set in motion a chain of events which had particularly serious consequences for the developing countries. In this text, the author examines the major causes and results of the situation, focusing mainly on Africa and Latin America.

The last decade has been one of sharp adjustment and rising poverty for most of the developing world. The oil crisis of the 1970s and the recession of the 1980s set in motion a chain of events which had particularly serious consequences for these areas. In Adjustment and Poverty: Options and Choices , the author examines the major causes and results of this situation. The work includes: An examination of the relationship between adjusting policies and poverty during the 1980s; An assessment of the extent to which the situation was the result of exogenous and/or endogenous policies. An analysis of the impact of the IMF and World Bank macro-policies on adjusting countries - both in theory and practice; A discussion of government tax and expenditure policies - with particular focus on social sector spending; An appraisal of other contributing factors; Identification and assessment of improved policies for the future. The book focuses on those areas where poverty was highest, namely, Africa and Latin America. Experiences here are sharply contrasted with those areas which were able to combine adjustment with protection for the poor.