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Can the methods and spirit of the new political economy be used to explain common features of Third World experience -- such features as the extensive growth of government relative to the private sector, the intensity of trade restrictions and the import substitution syndrome, the urban bias of economic policy and resource allocation, and the heavy dependence on foreign capital?
Because of sustained growth in average real consumption, a modest improvement in overall equity, and gains to the rural sector -- particularly the poorest of the poor -- poverty and undernutrition continued to be alleviated during Indonesia's recent period of macroeconomic adjustment.
Recent cataclysmic changes in the international economic order are shaping the global policy choices of the 1990s. In his final collection of essays, the late Bela Balasa, a foremost international economist, examines the implications of these recent changes for developed, developing and reforming socialist economies. Essays include development strategies, adjustment policies, the public sector, and financial liberalization, economic integration in Eastern Europe, and trade policy negotiations.