The Order of Economic Liberalization

The Order of Economic Liberalization PDF

Author: Ronald I. Mckinnon

Publisher: JHU Press

Published: 1993-10

Total Pages: 260

ISBN-13: 9780801847431

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Can knowledge of financial policies in developing countries over four decades help the socialist economies of Asia and Eastern Europe become open market economies in the 1990s? In all these countries the loss of fiscal and monetary control has often resulted in high inflation that undermines the liberalization process itself. In the second edition of The Order of Economic Liberalization, Ronald McKinnon builds on his influential work on the liberalization of financial markets in less developed countries and outlines the progression necessary to move from a "repressed" to an open economy. New to this edition are chapters that contrast the gradual Chinese approach to liberalizing domestic and foreign trade with the "big bang" approach followed by some Eastern European countries and republics of the former Soviet Union. Financial control and macroeconomic stability, McKinnon argues, are more critical to a successful transition than is any crash program to privatize state-owned industrial assets and the banking system.

The Politics of Economic Liberalization

The Politics of Economic Liberalization PDF

Author: Bruno Wueest

Publisher: Springer

Published: 2017-10-12

Total Pages: 176

ISBN-13: 3319623222

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This book analyses the discourses of economic liberalization reform in six Western European countries – Germany, France, the United Kingdom, the Netherlands, Switzerland and Austria. It provides systematic empirical evidence that policy-related discourses are much more than noise; rather, they are detailed expressions of institutional complementarities and political struggles. The author posits that the more open a discourse, the broader the range of perceived interests, which, in turn, increases the intensity of conflicts. Similarly, the more public discourse centres on coordination, the more intense actors need to engage with opposite interests, which most probably intensifies political disputes as well. Moreover, Wueest argues that the formation of a consensus within the political mainstream has left a vacuum for outsider parties such as Syriza in Greece and Podemos in Spain to feed on the contentiousness of economic liberalization policies.

Financial Liberalization and Economic Development in Korea, 1980-2020

Financial Liberalization and Economic Development in Korea, 1980-2020 PDF

Author: Yung Chul Park

Publisher: Harvard University Press

Published: 2021-03-30

Total Pages: 375

ISBN-13: 9780674251281

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Korea's financial development has been a tale of liberalization and opening but the new system has failed to steer the country away from financial crises. This study analyzes the changes in the financial system and finds that financial liberalization has contributed little to grow and stabilize the Korean economy.

The Implications of China-Taiwan Economic Liberalization

The Implications of China-Taiwan Economic Liberalization PDF

Author: Daniel H. Rosen

Publisher: Peterson Institute

Published: 2011

Total Pages: 217

ISBN-13: 0881325015

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China and Taiwan have built one of the most intertwined and important economic relationships in the world, and yet that relationship is not mutually open, compliant with World Trade Organization norms, or even fully institutionalized. What's more, despite massive trade and investment flows, the boundary between the two is a serious flashpoint for potential conflict. But leaders in Beijing and Taipei have committed to normalize and deepen their economic intercourse and open a new post-Cold War era in their relationship. While the political significance of this gambit has captured attention worldwide, the scope of opening intended and the bilateral, regional, and global effects likely to ensue are as yet poorly understood. This volume attempts to remedy that uncertainty with careful modeling combined with a qualitative assessment of the implications of the cross-strait economic opening now agreed in an Economic Cooperation Framework Agreement (ECFA). The study explores the implications for Taiwan and China, for their neighbors, and for the United States if this undertaking is fully implemented by 2020.

The Politics of Economic Liberalization in Indonesia

The Politics of Economic Liberalization in Indonesia PDF

Author: Andrew Rosser

Publisher: Routledge

Published: 2013-07-04

Total Pages: 256

ISBN-13: 1136855793

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This book examines the dynamics shaping the economic process of economic liberalisation in Indonesia since the mid-1980's. Much writing on the process of economic liberalisation in developing countries views economic liberalisation as the victory of economic rationality over political and social interests. In contrast, this book argues that economic liberalisation should not be understood in these terms, but rather in the way that political social interests shape processes of economic reform in both a positive and negative sense. Specifically, Rosser argues that economic liberalisation needs to be understood in terms of the extent to which economic crises shift the balance of power and influence within society away from coalitions opposed to reform and towards those in favour of reform. In the Indonesian context, the main coalitions that need to be examined in this respect are the politico-bureaucrats and the conglomerates who have generally opposed reform and mobile capitalists who have generally supported reform. Based on extensive original research, and providing much new material, the book considers the politics of economic policy-making in Indonesia in a range of sectors including the capital market, intellectual property law, the banking industry, and the trade and investment sectors. Analysing why the nature of economic policy in Indonesia has varied over time, this study argues that there is nothing inevitable about a transition to a fully-fledged liberal market order in Indonesia, and outlines possible future scenarios for the country's political economy.

Liberalization Against Democracy

Liberalization Against Democracy PDF

Author: Stephen J. King

Publisher: Indiana University Press

Published: 2003-06-18

Total Pages: 182

ISBN-13: 9780253215833

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Annotation Local-level study of a rural Tunisian town that illustrates why market-oriented economic reforms have not necessarily led to politicl liberalization. Indiana Series in Middle East Studies Mark Tessler, general editor.

Economic Freedom and Prosperity

Economic Freedom and Prosperity PDF

Author: Benjamin Powell

Publisher: Routledge

Published: 2018-10-03

Total Pages: 266

ISBN-13: 0429813201

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Economic theory and a growing body of empirical research support the idea that economic freedom is an important ingredient to long-run economic prosperity. However, the determinants of economic freedom are much less understood than the benefits that freedom provides. Economic Freedom and Prosperity addresses this major gap in our knowledge. If private property and economic freedom are essential for achieving and maintaining a high standard of living, it is crucial to understand how improvements in these areas have been achieved and whether there are lessons that can be replicated in less free areas of the world today. In this edited collection, contributors investigate this research question through multiple methodologies. Beginning with three chapters that theoretically explore ways in which economic freedom might be better achieved, it then moves on to a series of empirical chapters that examine questions including the speed and permanence of reform, the deep long-run determinants of economic freedom, the relationship between voice and exit in impacting freedom, the role of crises in generating change, and immigration. Finally, the book considers the evolution of freedom in China, development economics, and international trade, and it concludes with a consideration of what is necessary to promote a humane liberalism consistent with economic freedom. Economic Freedom and Prosperity will be of great interest to all social scientists concerned with issues of institutional change. It will particularly appeal to those concerned with economic development and the determinants of an environment of economic freedom.

Liberalization and Economic Performance of the Informal Sector

Liberalization and Economic Performance of the Informal Sector PDF

Author: Indrajit Bairagya

Publisher: Routledge

Published: 2014-10-03

Total Pages: 206

ISBN-13: 1317631773

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Impact of liberalization on informality has been a subject of intense debate for many years and the major issue that has come up is whether liberalization helps to grow informal sector and informality in the economy or it is an obstruction for informal sector’s growth. Thus, in the light of the recent liberalization measure, this book sets to examine general presumptions of the development of informal sector in the context of the Indian economy. The book begins with a broad framework for analysis of output contribution and growth of the informal sector. Liberalization is measured by openness indices and inter-sectoral linkages. Impact of liberalization on growth contributions of informal sector is captured by openness indices (i.e. degree of openness to trade and principal component scores), technical efficiency (measured by Data Envelope Analysis and estimated by Tobit Censored Regression model) and components of productivity (computed by Malmquist total factor productivity index) of the informal enterprises by inter-sectoral linkages. The linkages are modeled theoretically in a neo-classical growth theory and empirically measured by sub-contracting arrangements between formal and informal enterprises. In addition, the book also provides implications on promotion of informal sector from the viewpoint of employment generation. The description and analyses of the book will help with policy implications and enlighten the readers on the development of informal sector.

Economic Liberalization and Integration Policy

Economic Liberalization and Integration Policy PDF

Author: Harry G. Broadman

Publisher: Springer Science & Business Media

Published: 2006-02-23

Total Pages: 356

ISBN-13: 3540311831

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After the 1998 Russian economic crisis, there are new opportunities for sustained growth in many countries of the former Soviet Union. Against this backdrop, the authors of this book analyze the dynamics of macroeconomic and structural developments in Eastern Europe and Russia, with special attention paid to problems of international and national integration, "Dutch disease" and natural resource dependency, and distortions in institutional reforms. The analysis also sheds light on how these problems have implications for cooperation among OECD-countries. A critical focus is on institutional adjustment and learning, human capital formation, trade and foreign investment. The political economy challenges of stability and growth in the region are highlighted. New empirical findings and comparative policy analysis - including in the field of natural resource policy - are major elements in this publication.

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