n Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust - The impact of the economic structural adjustment programme on gross domestic product growth in Kenya (1980-2018)

Volume 9 Number 1
  • ISSN : 2076-6645
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Several developing countries especially in Africa and Latin America have at one point or the other adopted an economic stimulus package from the global financial lenders, namely the International Monetary Fund and the World bank in a bid to correct some economic imbalances within their economies. Typical short term stabilisation adjustment policies include balance of payment deficits reduction through currency devaluation, budget deficit reduction through higher taxes, fiscal austerity measures and foreign debt restructuring among others. Long term adjustment policies include trade liberalisation to guarantee a price mechanism, privatisation of state owned enterprises, increasing economic performance through direct exports and resource extraction and creating a conducive environment for foreign direct investment. However, structural adjustment programs have been criticised for focusing on short term measures which have resulted in a contractive impact on the economy in most adopting developing countries. An assessment of the impact of economic structural adjustment programme on economic growth was conducted by assessing key variables that have some significant impact on economic growth and development of a developing country.

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