Abstract

Part 1 The nature of current account deficits and macroeconomic external adjustment policies for developing countries: structural current account deficits and the case for external finance macroeconomic adjustment policies for developing countries. Part 2 Macroeconomic adjustment policies in Brazil 1973-1986: the Brazilian economy and the first oil shock structural and external financing policies structural policy effects - a sectoral analysis expenditure-reducing and expenditure-switching policies the transfer of real resources as a restriction to growth - recent trends in the Brazilian economy.

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