Download or read book Structural Adjustment, Employment and Workers written by Masihur Rahman and published by University Press. This book was released on 1994 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: The soft budget constraint allowed the public enterprises to hire more workers than was necessary, with the result that losses increased and productivity remained low. For the private sector, lax credit discipline was the analogue of the soft budget constraint, with similar result in respect of productivity. As the reforms progress, particularly as fiscal and credit disciplines are strengthened, it is no longer possible to sustain the surrogate social security system. The author argues that efficiency improvements are necessary for industries in an open and outward looking economy. He also places the issue of industrial workers in the overall context of unemployment and poverty.