logo

Critically Assessing the Impact of Economic Liberalization: Trade, Finance, and Privatization

   

Added on  2023-07-11

17 Pages990 Words180 ViewsType: 180
Finance
 | 
 | 
 | 
ECONOMIC LIBERALIZATION
POVERTY REDUCTION

GROUP A

M. Ali Bin Qasim

Mateen Rizvi

Jahanzeb Khokhar

Faryal Sha
hid
Critically Assessing the Impact of Economic Liberalization: Trade, Finance, and Privatization_1

OVER VIEW
The present chapter critically evaluates the growth, employment and poverty impacts
of
three major elements of recent economic liberalizationtrade liberalization,
financial
liberalization and privatization.
Critically Assessing the Impact of Economic Liberalization: Trade, Finance, and Privatization_2

INTRODUCTION TO ECONOMIC LIBERALIZATION
liberalisation in short is "the removal of controls" in order to encourage
economic
development. Most first world and developing countries have
pursued
the path of economic liberalization in recent decades with the
stated
goal of maintaining or increasing their competitiveness as business
environment
.
Basically it refers to reduction of government regulations and restrictions in
an
economy in order to encourage greater participation by private entities
Liberalization policies include partial or full privatisation of government
institutions
and assets, greater labour market flexibility, lower tax rates for
businesses,
less restriction on both domestic and foreign capital, open
markets
etc.
Critically Assessing the Impact of Economic Liberalization: Trade, Finance, and Privatization_3

GOVERNMENT INTERVENTION
Government intervention is regulatory action taken by government that seek
to change the decisions made by individuals, groups and organisations about

social and economic matters.

From this liberalization perspective, government intervention in markets is
seen as both inefficient and distortionary.
Even if an interventionist State acts
with good intentions, it does not have that competence to manage the

economy well.
Critically Assessing the Impact of Economic Liberalization: Trade, Finance, and Privatization_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Concept of Neoliberalism and Democracy
|5
|1454
|83

Introduction to Politics and Policy Standards
|6
|1062
|18

Impact of Structural Adjustment Program on Poverty in India and Africa
|9
|2549
|44

SOCIOLOGY. 3. 3. : SOCIOLOGY. SOCIOLOGY.
|9
|2197
|36

Business and Government in a Global Assignment
|4
|735
|19

Effectiveness of Critical Social Work Approach for Joy in the Context of Neoliberal Policies
|8
|2286
|112