This paper arose out of the desire to review the quantitative relationships between external shocks, economic policies and performance across a sample of developing countries, as background to the World Development Report 1984. Initially, it was proposed to attempt to confront comparably modeled economies with similar shocks or shocks characteristic of the early 1980s. But such a data- and model-intensive effort proved to be impractical given time and other constraints. The paper thus reviews two types of existing studies. The first consists of cross-country comparative studies of the shock-policy-adjustment relationship, the second of eight exercises in quantitative modeling of individual economies. (Copyright (c) 1985, The International Bank for Reconstruction and Development/The World Bank.)
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