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Reinvigorating Growth in Developing Countries
This study examines the links between adjustment policies and growth in a small group of developing countries- Bangladesh, Chile, Ghana, India, Mexico, Morocco, Senegal, and Thailand - during 1970 -93. It provides an overview of the adjustment and growth experience, examines in depth several policy issues of particular interest, and distills the principal policy lessons for the design of adjustment policies.
Thailand
Since the mid-1960s, Thailand's growth performance has been exceptional. Although hard hit by the external shocks fo the late 1970s and the early 1980s that proved severely destabilizing to many developing countries, Thailand showed remarkable reslience: price stability was quickly restored, and the Thai economy emerged from this period with strong recovery in growth and investment, in an environment of overall macroeconomic stability. This study examines the evolution of investment and growth and Thailand's macroeconomic and structural policies, with a view to understanding the main factors that have led to this impressive economic performance.
Disinflation in Transition Economies
In light of the persistence of moderate inflation in many transition economies, this paper analyzes whether inflation resulted from insufficiently tight financial policies and wage pressures or from the protracted adjustment of relative prices. Using a new database for 21 countries, the effect of relative price variability on inflation is estimated within a framework controlling for nominal and real shocks. Money and wage growth were the most important determinants of inflation; relative price variability had a sizable effect at high inflation during initial liberalization and a small effect at moderate inflation. Cost recovery may contribute to variability, particularly in the advanced stages of the transition.
American Baptist Missionary Magazine and Missionary Intelligencer
Volumes 7-77, 80-83 include 13th-83rd, 86th-89th annual report of the American Baptist missionary union.
Lynching and the Law
This title was issued under the auspices of the Southern Commission on the Study of Lynching. A work of great authority because it was produced by Southern jurists, it was cited frequently in the 1932 Senate hearings on lynching. Its conclusions are based in part on a comprehensive survey of over 3,700 lynchings, mostly of African-Americans, between 1889 and 1932. Chadbourn also asked 1,000 prominent Southern lawyers and legislators how they would prevent the practice. Using this data he proposes a model lynching law. "This excellent monograph and the proposed statute have unusual significance in view of the present possibility of further state and national legislation dealing with this urgent problem.": H.C. Brearley, Social Forces 12 (1933-34) 610.
Lithuania
Lithuania has embarked on a comprehensive and far-reaching economic reform program aimed at reorienting its economy from a centrally planned to a market system. Substantial progress has already been made in the transition to a market economy. In some areas - such as privatization - Lithuania has made the transition more quickly than most other countries in a comparable position. However, the reforms have started in an unfavorable economic environment, indicated by declining output, deteriorating terms of trade, and high rates of inflation. This study presents the first comprehensive assessment of the Lithuanian economy prepared by the World Bank. It is composed of three parts. Part I provides an overview of recent developments and presents a reform agenda for the medium term; Part II examines in detail macroeconomic and systemic reform issues; and Part III contains discussions of individual sectors. Quantitative information is presented in a statistical appendix.
Fiscal Reform in European Economies in Transition
Most European economies in transition are engaged in public sector reform aimed mainly at replacing the previous fiscal system subordinated to the central plan with a system where fiscal instruments can make a distinct contribution to stabilization, equity, and efficiency. This paper examines past progress and future tasks in major reform areas: taxation, subsidies, social security, public investment, public enterprises, government debt, and intergovernmental relations. An overview of the fiscal reform process suggests that the contraction and restructuring of government operations are not likely to materialize soon and that there is a serious risk of widening fiscal imbalances during the transition.
