Structural Adjustment and Sustainable Development
Working Paper #47
This paper provides empirical evidence showing that the crowding out phenomenon is indeed relevant for most developing countries and evidence suggesting that under investment in public goods is in many countries a major distortion that at least in part explains the triple curse affecting the vast majority of the developing countries over recent decades: slow growth, massive social inequities and poverty, and environmental destruction.
About the Author
Professor of Economics
Department of Agricultural and Resource Economics
University of Maryland at College Park
Ramón López is Professor of Economics at the Department of Agricultural and Resource Economics, University of Maryland at College Park.