Advertisement Israel M. kirzner’s theory of Adjustment: Kirzner, the noted economist, has coined the theory of adjustment of price. According to him, the essential entrepreneurial element is the alertness to information rather than its possession alone. He contends that those entrepreneurs who have the superior telescopic...
Structural Adjustment Facility (SAF) : In order to reduce their balance of payments deficit and maintaining or regaining the economic growth of member countries, the World Bank has introduced SAF in 1985. These funds are released in two parts and in a series of up to five SAFs...
Enhanced Structural Adjustment Facility (ESAF): In order to increase the availability of concessional resources to the low income member countries,ESAF was established in December 1987. It provides new concessional resources of SDR 6 billion which will be financed by special loans and contributions from developed and OPEC countries....
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