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Macro
economic adjustment policies have been adopted by many developing
countries during the last two decades or so. The main objectives
of these macro economic policies are long-term change in
economic structure and rapid growth in the economy. Most
of the countries that adopted this strategy have achieved
structural changes in the economy from agriculture to industry
and service orientation and rapid economic growth. Impact
of these macro economic policy changes on low-income households
were not considered as a main issue. However, the majority
of households in all developing countries belong to low
income groups. Generally, policy makers stated or assumed
that these low-income groups would benefit gradually after
trickle-down of the fruits of economic development over
time. But most of the country experiences are unable to
prove this Kuznets’ “inverted U” hypothesis.
In the short and medium term, adjustment policies are double
edged: favourably affecting growth but unfavourably affecting
poverty, inequality, marginalization and social exclusion.
The concept of Micro Impact of Macro Adjustment
Policy (MIMAP) project is built around this dilemma on multi-disciplinary
perspective. MIMAP approaches this issue from an information
providing and knowledge enhancing angle, focussing on the
impact of macro adjustment policies on the well being of
low income households and small-scale firms. This type of
project is necessary for policy makers to understand the
links between macro adjustment policies and their micro
impact and transmission mechanism of growth among the different
income and social groups.
Table of Contents:
- Introduction
- Main Objectives of the Study
- Organization of the Study
- Macro Econometric Models in Developing Countries
- Macro Econometric Models Developed in Sri Lanka during
the Last 20 Years
- Computable General Equilibrium Models in Sri Lanka
- Computable General Equilibrium Models in MIMAP Regions
- Concluding Remarks and Policy Implications
- References
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