Structural Adjustment Policy: Asian Experience

In recent years the transition to the market economy system in the former Soviet Union and East European countries has become a world-wide concern. Yet, it is not so widely recognized that waves of transformation in the economic and social system of a similar nature and with a similar worldwide significance have been taking place since the end of the 1970s in many developing countries, as a result of protracted balance of payment crises and the ensuing adherence to the proposed World Bank-IMF structural adjustment policies.