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The analysis of this paper indicates that the unsatisfactory overall economic performance of sub-Saharan African countries during 1986–93 was due to inappropriate policies pursued by a number of countries. The countries that have pursued broadly appropriate adjustment policies have performed much better, achieving positive per capita GDP growth. The analysis is supported with an econometric investigation of the effects of macroeconomic policies, structural reforms, and exogenous factors on economic performance. The results indicate that progress in achieving macroeconomic stability and implementing structural reforms have been conducive to better growth, savings, and private investment.

Exports and Imports --- Foreign Exchange --- Investments: General --- Public Finance --- Macroeconomics --- Estimation --- Investment --- Capital --- Intangible Capital --- Capacity --- Foreign Aid --- Empirical Studies of Trade --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Macroeconomics: Consumption --- Saving --- Wealth --- International economics --- Public finance & taxation --- Currency --- Foreign exchange --- Private investment --- Foreign aid --- Terms of trade --- Public investment spending --- Real effective exchange rates --- National accounts --- International trade --- Expenditure --- Private savings --- Saving and investment --- International relief --- Economic policy --- nternational cooperation --- Public investments --- South Africa --- Nternational cooperation

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This paper examines the effects of three "shocks" - the disintegration of the U.S.S.R., domestic economic reform, and changing relations with other countries- on Russia's balance of payments position. The importance of consistent economic reform and a liberal trade regime is stressed, together with the role of financial assistance.

Economic policy and planning (general) --- Economic relations. Trade --- Russian Federation --- Soviet Union --- Former Soviet republics --- Russia (Federation) --- Foreign economic relations --- Economic policy --- 338.24 <47> --- 339 <47> --- 338 (47) --- 338 --- 339.5 --- (470+571) --- $?$95/03 --- politique economique --- relations economiques internationales --- russie --- RU / Russia - Rusland - Russie --- 382.242.0 --- 339.113 --- 331.30 --- 382.50 --- 331.33 --- 331.32 --- 330.05 --- 337.47 --- Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Rusland. Sovjet-Unie --- Handel. Internationale economische betrekkingen. Wereldeconomie --binnenlandse als buitenlandse handel; zie ook {339.3} en {339.5}--Rusland. Sovjet-Unie --- Economische situatie. Economische structuur van bepaalde landen en gebieden. Economische geografie. Economische produktie.economische produkten. Economische diensten--Rusland. Sovjet-Unie --- economisch beleid --- internationale economische betrekkingen --- rusland --- Balans van het kapitaalverkeer: algemeenheden. --- Buitenlandse investeringen. --- Economische toestand. --- Internationale handelsbetrekkingen: algemeenheden. --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik. --- Structuur van de economie. --- -Former Soviet republics --- -Russia (Federation) --- -Soviet Union --- -CIS countries --- Commonwealth of Independent States countries --- Ex-Soviet republics --- Ex-Soviet states --- Former Soviet states --- New Independent States (Former Soviet republics) --- Newly Independent States (Former Soviet republics) --- NIS (Former Soviet republics) --- -Economic policy --- -Foreign economic relations --- Working papers --- Foreign economic relations. --- Economic policy. --- 338 (47) Economische situatie. Economische structuur van bepaalde landen en gebieden. Economische geografie. Economische produktie.economische produkten. Economische diensten--Rusland. Sovjet-Unie --- 339 <47> Handel. Internationale economische betrekkingen. Wereldeconomie --binnenlandse als buitenlandse handel; zie ook {339.3} en {339.5}--Rusland. Sovjet-Unie --- 338.24 <47> Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Rusland. Sovjet-Unie --- Russia --- Economische toestand --- Structuur van de economie --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik --- Buitenlandse investeringen --- Balans van het kapitaalverkeer: algemeenheden --- Internationale handelsbetrekkingen: algemeenheden --- CIS countries --- Soviet Union - Foreign economic relations --- Former Soviet republics - Foreign economic relations --- Russia (Federation) - Foreign economic relations --- Soviet Union - Economic policy - 1986-1991 --- Former Soviet republics - Economic policy --- Russia (Federation) - Economic policy - 1991 --- Investments: Commodities --- Investments: Energy --- Exports and Imports --- Foreign Exchange --- Money and Monetary Policy --- Trade: General --- International Lending and Debt Problems --- Trade Policy --- International Trade Organizations --- Empirical Studies of Trade --- International Investment --- Long-term Capital Movements --- International economics --- Currency --- Foreign exchange --- Investment & securities --- Monetary economics --- Public finance & taxation --- Finance --- Exports --- Imports --- External debt --- Terms of trade --- International trade --- Trade barriers --- Debts, External --- nternational cooperation --- Commercial policy --- Nternational cooperation