Evaluating Economic Liberalization

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Evaluating Economic Liberalization

Author : David Greenaway
Publisher : Springer
ISBN 13 : 1349143073
Total Pages : 251 pages
Book Rating : 4.3/5 (491 download)

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Book Synopsis Evaluating Economic Liberalization by : David Greenaway

Download or read book Evaluating Economic Liberalization written by David Greenaway and published by Springer. This book was released on 1999-07-23 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Liberalization - economic policy reforms to render economies more market-orientated - is a central issue in most countries of the world. This important contribution to the literature of liberalization analyzes theoretical issues and experiences of reform. Existing approaches to evaluating the effects of reform are reviewed, difficulties of measuring liberalization are discussed, the complex ways in which reforms can impact on individuals and groups are illustrated, and the importance of political concerns are addressed. The final four chapters offer detailed case studies of Pakistan, Mozambique, Vietnam and Sri Lanka.

Evaluating Economic Liberalization

Author : Mark McGillivray
Publisher : Palgrave Macmillan
ISBN 13 : 9780312225698
Total Pages : 240 pages
Book Rating : 4.2/5 (256 download)

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Book Synopsis Evaluating Economic Liberalization by : Mark McGillivray

Download or read book Evaluating Economic Liberalization written by Mark McGillivray and published by Palgrave Macmillan. This book was released on 1999 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Liberalization, economics policy reforms to render economies more market-oriented, is a central issue in most countries of the world. This volume contributes to the literature on liberalization. The first five chapters are concerned with general issues. Existing approaches to evaluating the effects of reform are reviewed, difficulties of measuring liberalization are discussed, the complex ways in which reforms can impact on individuals and groups are illustrated, and the importance of political concerns are addressed. The final four chapters offer case studies.

Evaluation of Financial Liberalization

Author : Robert Townsend
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4./5 ( download)

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Book Synopsis Evaluation of Financial Liberalization by : Robert Townsend

Download or read book Evaluation of Financial Liberalization written by Robert Townsend and published by World Bank Publications. This book was released on 2003 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to assess both the aggregate growth effects and the distributional consequences of financial liberalization as observed in Thailand from 1976 to 1996. A general equilibrium occupational choice model with two sectors, one without intermediation, and the other with borrowing and lending, is taken to Thai data. Key parameters of the production technology and the distribution of entrepreneurial talent are estimated by maximizing the likelihood of transition into business given initial wealth as observed in two distinct datasets. Other parameters of the model are calibrated to try to match the two decades of growth as well as observed changes in inequality, labor share, savings, and the number of entrepreneurs. Without an expansion in the size of the intermediated sector, Thailand would have evolved very differently, namely, with a drastically lower growth rate, high residual subsistence sector, non-increasing wages, but lower inequality. The financial liberalization brings welfare gains and losses to different subsets of the population. Primary winners are talented would-be entrepreneurs who lack credit and cannot otherwise go into business (or invest little capital). Mean gains for these winners range from 17 to 34 percent of observed overall average household income. But liberalization also induces greater demand by entrepreneurs for workers resulting in increases in the wage and lower profits of relatively rich entrepreneurs of the same order of magnitude as the observed overall average income of firm owners. Foreign capital has no significant impact on growth or the distribution of observed income. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to understand financial liberalization and its impact on growth.

Washington Consensus, The: A Critical Evaluation Of The Principles And Implications For Economic Development

Author : Imad A Moosa
Publisher : World Scientific
ISBN 13 : 9811236798
Total Pages : 371 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Washington Consensus, The: A Critical Evaluation Of The Principles And Implications For Economic Development by : Imad A Moosa

Download or read book Washington Consensus, The: A Critical Evaluation Of The Principles And Implications For Economic Development written by Imad A Moosa and published by World Scientific. This book was released on 2021-07-02 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of the book is to evaluate critically the ten principles of the Washington Consensus, which govern the conditionality provisions of the IMF and World Bank, and guide the so-called economic reform in developing countries. The book starts with an overview of the Consensus, followed by a chapter on IMF conditionality and how they are related. Since the Consensus is inherently neoliberal, a chapter is devoted to a critique of the free market doctrine and the concept of economic freedom as seen by free marketeers. The ten principles of the Washington Consensus (referred to as the 'ten commandments') are divided into four groups: fiscal reform, interest and exchange rate policies, liberalization of trade and foreign direct investment, and privatization and deregulation (including property rights).The book is written in the normative tradition of what ought to be, as opposed to the positive tradition of what is. While it may be tempting to describe the work as 'polemic', the underlying issues contain such a significant moral component that pretending to be neutral would be a betrayal of justice and morality. In essence, the arguments put forward in the book are intended to dismantle, discredit and debunk a set of principles that are effectively used to loot developing countries.

Foreign Economic Liberalization

Author : Andras Koves
Publisher : Westview Press
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.:/5 (43 download)

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Book Synopsis Foreign Economic Liberalization by : Andras Koves

Download or read book Foreign Economic Liberalization written by Andras Koves and published by Westview Press. This book was released on 1991-04-28 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume combines theories of economic liberalization with a wide variety of case studies from market and socialist economies. Internationally regarded scholars and Eastern European policymakers have collaborated to evaluate the dramatic economic changes taking place throughout the world.

Growth and Structural Reforms

Author : Lone Engbo Christiansen
Publisher : International Monetary Fund
ISBN 13 : 1451918453
Total Pages : 55 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Growth and Structural Reforms by : Lone Engbo Christiansen

Download or read book Growth and Structural Reforms written by Lone Engbo Christiansen and published by International Monetary Fund. This book was released on 2009-12-01 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simultaneous assessment of the relationship between economic performance and three groups of economic reforms: domestic finance, trade, and the capital account. Among these, domestic financial reforms, and trade reforms, are robustly associated with economic growth, but only in middle-income countries. In contrast, we do not find any systematic positive relationship between capital account liberalization and economic growth. Moreover, the effect of domestic financial reforms on economic growth in middle-income countries is explained by improvements in measured aggregate TFP growth, not by higher aggregate investment. We present evidence that variation in the quality of property rights helps explain the heterogeneity of the effectiveness of financial and trade reforms in developing countries. The evidence suggests that sufficiently developed property rights are a precondition for reaping the benefits of economic reform. Our results are robust to endogeneity bias and a number of alternative specifications.

Financial Liberalization and Economic Performance

Author : Luiz Fernando de Paula
Publisher : Taylor & Francis
ISBN 13 : 1136854908
Total Pages : 273 pages
Book Rating : 4.1/5 (368 download)

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Book Synopsis Financial Liberalization and Economic Performance by : Luiz Fernando de Paula

Download or read book Financial Liberalization and Economic Performance written by Luiz Fernando de Paula and published by Taylor & Francis. This book was released on 2012-07-26 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the beginning of the 1990s, Brazil has followed a pattern of economic development inspired by Washington Consensus. This framework includes a set of liberalising and market friendly policies such as privatisation, trade liberalization, stimulus to foreign direct investment, tax reform, and social security reforms. This book assesses the determinants and impacts of financial liberalisation in Brazil considering its two dimensions: the opening up of the balance of payments capital account, and the penetration by foreign bank of the domestic banking sector. The author combines theoretical and empirical analyses. Some make use of mathematical models and/or statistical techniques; however, they are only used when they are strictly necessary to the analysis.

Trade Liberalization and Endogenous Growth in a Small Open Economy

Author : Thomas Fox Rutherford
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4./5 ( download)

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Book Synopsis Trade Liberalization and Endogenous Growth in a Small Open Economy by : Thomas Fox Rutherford

Download or read book Trade Liberalization and Endogenous Growth in a Small Open Economy written by Thomas Fox Rutherford and published by World Bank Publications. This book was released on 1998 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: September 1998 Although trade liberalization has been linked econometrically and through casual empiricism to large income increases, attempts to quantify its impact in static simulation models have shown estimated gains. This paper shows that when the endogenous dynamic effects of trade liberalization are built into simulation models, the estimated gains are indeed very large. But complementary regulatory, financial market, and macroeconomic reforms are important to realize the largest gains. Rutherford and Tarr develop a numerical endogenous growth model approximating an infinite horizon, which allows them to investigate the relationship between trade liberalization and economic growth. Economic theory generally implies that trade liberalization will improve economic growth, and the two phenomena are positively correlated in empirical tests, but the connection is not well-substantiated in numerical general equilibrium models. In the authors' model, an intermediate input affects aggregate output through a Dixit-Stiglitz function. Additional varieties provide the engine of growth in this framework and the existence of this mechanism magnifies the welfare costs. In this model with lump sum revenue replacement, reducing a tariff from 20 percent to 10 percent produces a welfare increase (in terms of Hicksian equivalent variation over the infinite horizon) of 10.7 percent of the present value of consumption in their central model, where the economy is assumed to be unable to borrow on international financial markets. If macroeconomic and financial reforms are in place that would allow international borrowing, however, the same tariff cut is estimated to result in a 37 percent increase in Hicksian equivalent variation. On the other hand, if inefficient replacement taxes must be used in an economy without the capacity to borrow internationally, the gains would be reduced to 4.7 percent. Larger tariff cuts-typical of those in many developing countries over the past 30 years-produce larger estimated welfare gains at least proportionate to the size of the cut. The authors apply the model to five developing countries and estimate the impact of the tariff changes those countries plan to undertake as part of Uruguay Round commitments. Because of the dynamic effects, estimated gains are considerably larger than those found in the literature on the impact of the Uruguay Round. This paper-a product of Trade, Development Research Group-is part of a larger effort in the group to assess the impact of trade and investment on economic growth. The study was funded by the Bank's Research Support Budget under the research project The Dynamic Impact of Trade Liberalization in Developing Countries (RPO 681-40). David Tarr may be contacted at [email protected].

Economic Liberalization in India

Author : Deepak Nayyar
Publisher :
ISBN 13 :
Total Pages : 86 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Economic Liberalization in India by : Deepak Nayyar

Download or read book Economic Liberalization in India written by Deepak Nayyar and published by . This book was released on 1996 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The object of this essay is to provide an analysis and an assessment of economic liberalization in India. It begins with a discussion of the crisis in the economy which surfaced in 1991. It examines the logic and the assumptions of the strategy adopted by the government in response, and sets out a critique based on economic theory and experience elsewhere. It assesses the impact of stabilization on inflation, balance of payments, output, employment and poverty.

Evaluation of Financial Liberalization

Author : Xavier Giné
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Evaluation of Financial Liberalization by : Xavier Giné

Download or read book Evaluation of Financial Liberalization written by Xavier Giné and published by . This book was released on 2016 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to assess both the aggregate growth effects and the distributional consequences of financial liberalization as observed in Thailand from 1976 to 1996. A general equilibrium occupational choice model with two sectors, one without intermediation, and the other with borrowing and lending, is taken to Thai data. Key parameters of the production technology and the distribution of entrepreneurial talent are estimated by maximizing the likelihood of transition into business given initial wealth as observed in two distinct datasets. Other parameters of the model are calibrated to try to match the two decades of growth as well as observed changes in inequality, labor share, savings, and the number of entrepreneurs. Without an expansion in the size of the intermediated sector, Thailand would have evolved very differently, namely, with a drastically lower growth rate, high residual subsistence sector, non-increasing wages, but lower inequality. The financial liberalization brings welfare gains and losses to different subsets of the population. Primary winners are talented would-be entrepreneurs who lack credit and cannot otherwise go into business (or invest little capital). Mean gains for these winners range from 17 to 34 percent of observed overall average household income. But liberalization also induces greater demand by entrepreneurs for workers resulting in increases in the wage and lower profits of relatively rich entrepreneurs of the same order of magnitude as the observed overall average income of firm owners. Foreign capital has no significant impact on growth or the distribution of observed income.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to understand financial liberalization and its impact on growth.

Structural Reforms and Economic Performance in Advanced and Developing Countries

Author : Mr.Jonathan David Ostry
Publisher : International Monetary Fund
ISBN 13 : 1589068181
Total Pages : 62 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Structural Reforms and Economic Performance in Advanced and Developing Countries by : Mr.Jonathan David Ostry

Download or read book Structural Reforms and Economic Performance in Advanced and Developing Countries written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2009-10-15 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.

Liberalization in the Process of Economic Development

Author : Lawrence B. Krause
Publisher : Univ of California Press
ISBN 13 : 0520376226
Total Pages : 440 pages
Book Rating : 4.5/5 (23 download)

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Book Synopsis Liberalization in the Process of Economic Development by : Lawrence B. Krause

Download or read book Liberalization in the Process of Economic Development written by Lawrence B. Krause and published by Univ of California Press. This book was released on 2022-09-23 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth in all developing countries is guided, and often accelerated, by generally intrusive policies implemented by governments intent on playing an active role in furthering development. As economies have grown and become more complex, however, even small market distortions are magnified, and the tendency is to rely more heavily on the market for continued growth. In this volume, leading experts in economic development examine the variety of issues that arise as governments in some of the newly industrializing countries of Southeast Asia, such as South Korea, Taiwan, and Singapore, grapple with this difficult process of liberalization. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1991.

Economic Evaluation of Sustainable Development

Author : Vinod Thomas
Publisher : Springer
ISBN 13 : 9811363897
Total Pages : 145 pages
Book Rating : 4.8/5 (113 download)

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Book Synopsis Economic Evaluation of Sustainable Development by : Vinod Thomas

Download or read book Economic Evaluation of Sustainable Development written by Vinod Thomas and published by Springer. This book was released on 2019-04-16 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is open access under a CC BY 4.0 license. This book presents methods to evaluate sustainable development using economic tools. The focus on sustainable development takes the reader beyond economic growth to encompass inclusion, environmental stewardship and good governance. Sustainable Development Goals (SDGs) provide a framework for outcomes. In illustrating the SDGs, the book employs three evaluation approaches: impact evaluation, cost-benefit analysis and objectives-based evaluation. The innovation lies in connecting evaluation tools with economics. Inclusion, environmental care and good governance, thought of as “wicked problems”, are given centre stage. The book uses case studies to show the application of evaluation tools. It offers guidance to evaluation practitioners, students of development and policymakers. The basic message is that evaluation comes to life when its links with socio-economic, environmental, and governance policies are capitalized on.

The Washington Consensus

Author : Imad A. Moosa
Publisher :
ISBN 13 : 9789811236785
Total Pages : 371 pages
Book Rating : 4.2/5 (367 download)

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Book Synopsis The Washington Consensus by : Imad A. Moosa

Download or read book The Washington Consensus written by Imad A. Moosa and published by . This book was released on 2021 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The objective of the book is to evaluate critically the ten principles of the Washington Consensus, which govern the conditionality provisions of the IMF and World Bank, and guide the so-called economic reform in developing countries. The book starts with an overview of the Consensus, followed by a chapter on IMF conditionality and how they are related. Since the Consensus is inherently neoliberal, a chapter is devoted to a critique of the free market doctrine and the concept of economic freedom as seen by free marketeers. The ten principles of the Washington Consensus (referred to as the "ten commandments") are divided into four groups: fiscal reform, interest and exchange rate policies, liberalization of trade and foreign direct investment, and privatization and deregulation (including property rights). The book is written in the normative tradition of what ought to be, as opposed to the positive tradition of what is. While it may be tempting to describe the work as "polemic", the underlying issues contain such a significant moral component that pretending to be neutral would be a betrayal of justice and morality. In essence, the arguments put forward in the book are intended to dismantle, discredit and debunk a set of principles that are effectively used to loot developing countries"--

The Dynamic Effects of Trade Liberalization

Author : United States International Trade Commission
Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The Dynamic Effects of Trade Liberalization by : United States International Trade Commission

Download or read book The Dynamic Effects of Trade Liberalization written by United States International Trade Commission and published by . This book was released on 1997 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Synthetic Biology and Morality

Author : Gregory E. Kaebnick
Publisher : MIT Press
ISBN 13 : 0262519593
Total Pages : 223 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis Synthetic Biology and Morality by : Gregory E. Kaebnick

Download or read book Synthetic Biology and Morality written by Gregory E. Kaebnick and published by MIT Press. This book was released on 2013-07-26 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: A range of views on the morality of synthetic biology and its place in public policy and political discourse. Synthetic biology, which aims to design and build organisms that serve human needs, has potential applications that range from producing biofuels to programming human behavior. The emergence of this new form of biotechnology, however, raises a variety of ethical questions—first and foremost, whether synthetic biology is intrinsically troubling in moral terms. Is it an egregious example of scientists “playing God”? Synthetic Biology and Morality takes on this threshold ethical question, as well as others that follow, offering a range of philosophical and political perspectives on the power of synthetic biology. The contributors consider the basic question of the ethics of making new organisms, with essays that lay out the conceptual terrain and offer opposing views of the intrinsic moral concerns; discuss the possibility that synthetic organisms are inherently valuable; and address whether, and how, moral objections to synthetic biology could be relevant to policy making and political discourse. Variations of these questions have been raised before, in debates over other biotechnologies, but, as this book shows, they take on novel and illuminating form when considered in the context of synthetic biology. Contributors John Basl, Mark A. Bedau, Joachim Boldt, John H. Evans, Bruce Jennings, Gregory E. Kaebnick, Ben Larson, Andrew Lustig, Jon Mandle, Thomas H. Murray, Christopher J. Preston, Ronald Sandler

India's Globalization

Author : Baldev Raj Nayar
Publisher : Sage
ISBN 13 :
Total Pages : 124 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis India's Globalization by : Baldev Raj Nayar

Download or read book India's Globalization written by Baldev Raj Nayar and published by Sage. This book was released on 2006 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Instead of denationalization, business in India is now more competitive and is venturing forth into the global market; increased imports and the entry of foreign multinationals have not swamped it; essentially, India is master of its own destiny. Instead of economic destabilization, there has been since the paradigm shift in economic policy in 1991 a marked absence of economic crisis in India. And, instead of impoverishment, India has seen a long and unprecedented period of welfare enhancement since it began its reintegration into the world economy in 1975; there has been a secular decline in poverty since then, while inequality has not increased much. The policy conclusion that flows from this experience is that India ought to be, in general, more open to globalization in the interest of sustaining the acceleration in economic growth and enhancing the welfare of its people. To this end it should push forward with the reform agenda.