Assessing the Impact of Economic Liberalization Programmes: A Survey of Empirical Methodologies

Abstract

There have been many attempts to evaluate the impact of economic liberalization, especially that resulting from IMF- and World Bank-sponsored structural adjustment programmes. Evaluations have focused mainly on macroeconomic performance indicators such as GDP growth, investment, inflation, exports and domestic saving. This is understandable given the main objective of most programmes: to restore economic growth. Other evaluations have been more concerned with what loosely can be described as the socioeconomic impacts of liberalization and have looked, therefore, at a range of indicators of educational and health status, the incidence of poverty and extent of gender discrimination. Many different evaluation techniques have been applied, which vary from simple data inspection to more complex econometric modelling. Most involve comparison of actual country experience in the presence of a liberalization programme to counter-factual non-programme scenarios. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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