Definition: Structural Adjustment

Structural Adjustment - related to adjustment, "policies of privatization, deregulation, wage and price decontrol, trade and financial liberalization and reforms in agriculture, industry, energy, and education intended to increase the economy’s efficiency, macroeconomic balance, and growth. In context, “adjustment” may be shorthand for stabilization and adjustment programs, especially those under the auspices of the International Monetary Fund and World Bank." - source: Economic Development 4th Edition by E. Wayne Nafziger