What Explains the Success or Failure of Structural Adjustment Programmes?
利用220个改革项目的新数据库，分析调整项目成败的原因，发现成败取决于国内政治经济力量，而捐助方努力变量在考虑内生性后与成败无关。
This paper analyses the causes of success or failure of adjustment programmes, using a new database on 220 reform programmes. We find that the success or failure of reform depends on domestic political‐economy forces. A few donor‐effort variables are also highly correlated with the probability of success. However, once these effort variables are treated as endogenous, there is no relationship between any of them and the success or failure of reform. These results have clear implications for how the international community should approach policy‐based aid.