The Economic Growth of Serious and Less Serious Reformers: A Look at Structural Adjustment Programmes in Sub-Saharan Africa

Abstract

This paper investigates whether compliance with policy conditions set out in structural adjustment programmes in Sub-Saharan Africa has been associated with higher economic growth. Interestingly, the sample period for this cross-country analysis varies in accordance with each country’s actual adjustment period. The empirical evidence indicates that compliance is an important determinant of economic performance and that the benefits of complying are to some extent persistent over time. However, a stricter degree of compliance does not appear to result in a significantly superior performance than weaker compliance. The paper also investigates the contribution of different policy reforms to growth and the role of the policy stance in altering that contribution

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