Lionel Demery|Lyn Squire
MACROECONOMIC ADJUSTMENT AND POVERTY IN AFRICA: AN EMERGING PICTURE
view macroeconomic adjustment disproportionately hurts poor africa become commonplace popular media nongovernmental aid community frequently express view critiques bankfunded economic reform programs yet evidence claim based flimsy anecdotal emergence convincing data detailed household surveys africa provides opportunity set record straight evidence six african countries reviewed article demonstrates poverty likely decline improved macroeconomic balances critical factor economic growth economy grew rapidly poverty declined faster countries improved macroeconomic balances depreciating real effective exchange rate changes real exchange rate also immediately favorably affected rural incomes benefiting poor directly indirectly findings also highlighted three causes policy concern first many african governments yet display real commitment macroeconomic reform second poorest poor benefited recent growth countries third prospects poor rosy unless investment human capital better targeting social spending