Summary: _Book is ‘an impressive effort to summarize the political legacy of economic reform, and to clarify the elusive relationship between political transition and economic change.’ Chapters are organized around four broad themes: the relative salience of international influences and domestic actors in the process of economic adjustment; the role of the state in economic restructuring and the scheme of state reform; the distributive implications of stabilization and adjustment strategies; and the relationship of economic adjustment to democracy.
Introductory chapter argues that while external structural constraints and transnational networks provide complementary channels influencing an initial shift toward orthodox adjustment, these international factors are less compelling in accounting for policy implementation and outcomes. The limits of international-level explanations point to a greater stress on the domestic politics of reform.
Confronts, and shows wrong, three controversial debates: i) that orthodox programs have been successfully imposed by a monolithic creditors’ cartel, led by the IMF and the World Bank; ii) the neoclassical assumption that state intervention is inherently detrimental to economic growth; iii) the impact of stabilization and adjustment on the poor, and effects of distributive tensions on social conflict and political stability.
_Methodology:_ The common approach in all of the chapters is to take issues that have been interpreted in two or three ways, and demonstrate that none of these interpretations is adequate to the variety of actual experience. They all analyze themes against a series of comparative case-studies.
There is a good chapter-by-chapter run-down in this review: [http://www.springerlink.com/content/58668nv66v8q81ml/fulltext.pdf]’,’utf-8‘