The IMF'S Role in Structural Adjustment
回顾了1980年代IMF对发展中国家实施有条件贷款进行结构调整的做法，指出其因缺乏分配分析和改革顺序不当（尤其是过早金融自由化）而引发可避免的困难，并建议基金组织在稳定后为私人投资者提供可信信号。
In the 1980s conditional lending for structural adjustment in developing countries moved the IMF beyond its role of macroeconomic crisis management. Fund-supported adjustment programmes have often been flawed by a lack of distributional analysis and by poor sequencing of reforms, notably premature financial liberalisation. As a result they have caused avoidable hardship. In addition, the attempt to taper out aid as part of the reform programme leads to avoidable reductions in post-stabilisation growth. An important role for the Fund in post-stabilisation environments is to provide credible signals to private investors.