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1. Introduction Pradeep Mitra 2. Shocks and adjustment: a comparative analysis Pradeep Mitra 3. Towards policy-based analysis Pradeep Mitra and Alan Roe 4. The structure of the country models Henrik Dahl and Pradeep Mitra 5. Country studies Pradeep Mitra 6. Adjustment with growth or stagnation: India 1973-74 to 1983-84 Pradeep Mitra and Suresh Tendulkar 7. Growth without adjustment: Thailand 1973-82 Shanta Devarajan and Hector Sierra 8. 'Overshooting' adjustment in a primary producing country: Kenya 1973-1982 Alan Roe and Shyamalendu Pal 9. Adjustment in an inward-oriented economy: Turkey 1973-1981 10. Conclusions Pradeep Mitra