A Critical Evaluation of Economic Liberalization and Poverty Reduction
VerifiedAdded on 2023/07/11
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This report critically evaluates the growth, employment, and poverty impacts of economic liberalization, focusing on trade liberalization, financial liberalization, and privatization. It introduces the concept of economic liberalization as the removal of controls to encourage economic development, contrasting it with government intervention and public choice theory. The report examines trade liberalization's theoretical benefits and empirical evidence, highlighting potential gains and limitations for developing countries. It also explores financial liberalization, discussing its merits and demerits, including potential over-borrowing and adverse effects on rural banking and small enterprises. Furthermore, the report analyzes privatization's role in poverty reduction, discussing how it can improve efficiency and spur economic growth, while also noting potential disadvantages like reduced employment and uncertain investment returns. The conclusion suggests that GDP growth, driven by these factors, can lead to increased production, employment, and ultimately, poverty reduction. Desklib offers a platform to access this and similar solved assignments for students.
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