structural adjustment

  

Definition

Change effected in the basic framework of an economy by the impact of policy reforms, such as liberalization of the economy by reducing protectionism and state intervention.

Use this term in a sentence

  • The company's new president and CEO decided to make a structural adjustment when he came on board because he noticed there were a lot of redundancies in several departments of the company.

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  • The policy reform caused them to make an unplanned structural adjustment, which the workers were not used to at all.

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  • You should be able to plan for a sound structural adjustment when you want to find a new way to do things.

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