Books

Editors: William Easterly, Carlos Alfredo Rodríguez and Klaus Schmidt-Hebbel
Oxford University Press and The World Bank, 1994

In the 1980s chronic public sector deficits forced countries to undertake fiscal adjustment. The need to face hard choices continues in the 1990s. But the problem is not a simple and easily diagnosed one with an obvious solution. Rather, public sector deficits have had widely differing consequences; high inflation in some...