Exchange-rate strategies may be used to pursue the most varied objectives as instruments of development policy or of structural adjustment. The following article will examine the advantages and disadvantages of a number of exchange-rate policy options.

The priority previously given to urban areas by development programmes was replaced in the 1980s by efforts to implement deliberately targeted rural development. These often relatively complex projects showed less sustainable success than had been expected, however. What are the requirements for...

The classical approach towards adjustment has proved to have considerable shortcomings, particularly in connection with supply response issues and the conditions for re-establishing sustainable growth. The following article concludes that sustainable stabilisation and adjustment require a...

Given that the developing countries today present a highly differentiated picture, is it appropriate to continue to speak of a "Third World"? If so, how does this group of countries appear to the present-day observer? What is their position within the world economy? What problems and challenges...

Stagnating development aid and continued reluctance on the part of western commercial banks to grant new loans to problem debtor countries have led many developing countries to pay greater attention to the mobilisation of their own resources. This article outlines a strategy for increasing the...

The relationship between taxation, savings and growth is a complex one, which economists to date have only partially been able to explain. The following paper reviews empirical evidence on differences in tax systems and their operation between developed and less developed countries and the role...

The traditional focus of development cooperation on economic growth and the transfer of technology having proved insufficient, it would seem that an international consensus on the objectives and essence of development is now emerging which places strong emphasis on participation of the people...

Despite decades of efforts, it has not yet been possible to integrate the developing countries satisfactorily into the world economy. Professor Glastetter examines the reasons for the failure of the integration strategies pursued hitherto and discusses the prospects of success with alternative...

A long road to substantive levels of industrialization still lies ahead of most developing countries. The challenges facing policy-makers and industrialists in these countries are enormous. What role should the international community play in the second half of the '90s to support these...

The urbanisation experience of the less developed countries shows distinct differences to that of the industrialised countries. What are the reasons for this and what are the implications for development policy?