World Bank Adjustment Lending and Economic Performance in Sub-Saharan Africa: Some Indicative Results
Ibrahim
A.Elbadawi
Abstract: The paper intends to find out the causes of the economic crisis that swept sub-Saharan Africa over the 1980s. It does this through a preliminary analysis of the possible determinants of the demand for Bank-assisted adjustment. Accordingly, the analysis shows that the group of sub-Saharan African countries that undertook the Bank-assisted adjustment have in fact entered the 1980s decade with relatively weaker economies. It concludes that the cause of the economic crisis was the adverse exogenous shocks that impacted the continent over the first half of the 1980s.