Palma, Pedro A. and Rodriguez, Cristina (1997) Sustainability of Adjustment Plans and Economic Reforms: The Venezuelan Case. New York: Americas Society. October
The multiple adjustment plans and economic reforms implemented in Latin America in the 1980s and 1990s are highly instructive, providing the basis for a series of hypotheses on basic conditions required to ensure the sustainability of adjustment plans aimed not only at correcting macroeconomic disequilibria, but also at implementing structural reforms and at stabilizing prices over a substantial period of time.
In this paper we analyze the two adjustment plans implemented in Venezuela in 1989 and 1996 in line with those hypotheses and basic conditions, in order to judge their sustainability and possibilities of success.