1. Structural adjustmen programs
With some notable exceptions - for example Botswana, Mauritius, Thailand, Indonesia and of course the East Asian "tigers" - growth was negligible or even negative in many cases. Overall, between 1965 and 1990, the average annual rate of growth of GNP per capita was negative in many African countries, and also in Jamaica, Bolivia, Peru and Venezuela. ... (Africa) Shrinking of the domestic market exacerbates the worsening socio-economic conditions. ... Until recently, there was a growing consensus that neoliberal policies were the key for economic growth of Africa and South America. ...
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- Grade Level: Graduate