Models of Economic Liberalization
Models of Economic Liberalization

Author: Sebastián Etchemendy

Publisher: Cambridge University Press

Published: 2014-03-27

Total Pages: 0

ISBN-13: 9781107630321

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This book provides the first general theory, grounded in comparative historical analysis, that aims to explain the variation in the models of economic liberalization across Ibero-America in the last quarter of the 20th century, and the legacies they produced for the current organization of the political economies. Although the macroeconomics of effective market adjustment evolved in a similar way, the patterns of compensation delivered by neoliberal governments, and the type of actors in business and the working class that benefited from them, were remarkably different. Based on the policy-making styles and the compensatory measures employed to make market transitions politically viable, the book distinguishes three alternative models: Statist, Corporatist, and Market. Sebastián Etchemendy argues that the most decisive factors that shape adjustment paths are the type of regime and the economic and organizational power with which business and labor emerged from the inward-oriented model. The analysis spans from the origins of state, business and labor industrial actors in the 1930s and 1940s to the politics of compensation under neoliberalism across the Ibero-American world, combined with extensive field work material on Spain, Argentina, and Chile.

The Order of Economic Liberalization
The Order of Economic Liberalization

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.

Trade Liberalization
Trade Liberalization

Author: Romain Wacziarg

Publisher: Edward Elgar Publishing

Published: 2018

Total Pages: 0

ISBN-13: 9781788111492

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This compelling two-volume collection presents the major literary contributions to the economic analysis of the consequences of trade liberalization on growth, productivity, labor market outcomes and economic inequality. Examining the classical theories that stress gains from trade stemming from comparative advantage, the selection also comprises more recent theories of imperfect competition, where any potential gains from trade can stem from competitive effects or the international transmission of knowledge. Empirical contributions provide evidence regarding the explanatory power of these various theories, including work on the effects of trade openness on economic growth, wages, and income inequality, as well as evidence on the effects of trade on firm productivity, entry and exit. Prefaced by an original introduction from the editor, the collection will to be an invaluable research resource for academics, practitioners and those drawn to this fascinating topic.

Economic Models for Policy Making
Economic Models for Policy Making

Author: Solomon Cohen

Publisher: Routledge

Published: 2013-05-02

Total Pages: 419

ISBN-13: 1136220879

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Over the past decades, many different kinds of models have been developed that have been of use to policy makers, but until now the different approaches have not been brought together with a view to enhancing the systematic unification and evaluation of these models. This new volume aims to fill this gap by bringing together four decades’ worth of work by S. I. Cohen on economic modelling for policy making. Work on older models has been rewritten and brought fully up to date, and these older models have therefore been brought back to the fore, both to assess how they influenced more recent models and to see how they could be used today. The focus of the book is on models for development policies in developing economies, but there are some chapters that relate to economic policies in transition and developed economies. The policy areas covered are of typical interest in developing and transition economies. They include those relating to trade liberalization reforms, sustainable development, industrial development, agrarian reform, growth and distribution, human resource development and education, public goods and income transfers. Each chapter contains a brief assessment of the empirical literature on the economic effects of the policy measures discussed in the chapter. The book presents a platform of economic modelling that can serve as a refresher for practising professionals, as well as a reference companion for graduates engaging in economic modelling and policy preparations.

Models of Economic Liberalization
Models of Economic Liberalization

Author: Sebastián Etchemendy

Publisher: Cambridge University Press

Published: 2011-09-26

Total Pages: 375

ISBN-13: 1139498479

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This book aims to explain the variation in the models of economic liberalization across Ibero-America in the last quarter of the twentieth century, and the legacies they produced for the current organization of the political economies. Although the macroeconomics of effective market adjustment evolved in a similar way, the patterns of compensation delivered by neoliberal governments and the type of actors in business and the working class that benefited from them were remarkably different. Etchemendy argues that the most decisive factors that shape adjustment paths are the type of regime and the economic and organizational power with which business and labor emerged from the inward-oriented model. The analysis spans from the origins of state, business and labor industrial actors in the 1930s and 1940s to the politics of compensation under neoliberalism across the Ibero-American world, combined with extensive field work material on Spain, Argentina and Chile.

Capital Account Liberalization
Capital Account Liberalization

Author: Peter Blair Henry

Publisher:

Published: 2006

Total Pages: 82

ISBN-13: 9780979037634

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"Writings on the macroeconomic impact of capital account liberalization find few, if any, robust effects of liberalization on real variables. In contrast to the prevailing wisdom, I argue that the textbook theory of liberalization holds up quite well to a critical reading of this literature. The lion's share of papers that find no effect of liberalization on real variables tell us nothing about the empirical validity of the theory, because they do not really test it. This paper explains why it is that most studies do not really address the theory they set out to test. It also discusses what is necessary to test the theory and examines papers that have done so. Studies that actually test the theory show that liberalization has significant effects on the cost of capital, investment, and economic growth"--National Bureau of Economic Research web site.

Varieties of Liberalization and the New Politics of Social Solidarity
Varieties of Liberalization and the New Politics of Social Solidarity

Author: Kathleen Thelen

Publisher: Cambridge University Press

Published: 2014-03-31

Total Pages: 281

ISBN-13: 1107053161

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This book examines contemporary changes in labor market institutions in the United States, Germany, Denmark, Sweden, and the Netherlands, focusing on developments in three arenas - industrial relations, vocational education and training, and labor market policy. While confirming a broad, shared liberalizing trend, it finds that there are in fact distinct varieties of liberalization associated with very different distributive outcomes. Most scholarship equates liberal capitalism with inequality and coordinated capitalism with higher levels of social solidarity. However, this study explains why the institutions of coordinated capitalism and egalitarian capitalism coincided and complemented one another in the "Golden Era" of postwar development in the 1950s and 1960s, and why they no longer do so. Contrary to the conventional wisdom, this study reveals that the successful defense of the institutions traditionally associated with coordinated capitalism has often been a recipe for increased inequality due to declining coverage and dualization. Conversely, it argues that some forms of labor market liberalization are perfectly compatible with continued high levels of social solidarity and indeed may be necessary to sustain it.

The Implications of China-Taiwan Economic Liberalization
The Implications of China-Taiwan Economic Liberalization

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.

Democracy and the Market
Democracy and the Market

Author: Adam Przeworski

Publisher: Cambridge University Press

Published: 1991-07-26

Total Pages: 230

ISBN-13: 9780521423359

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The quest for freedom from hunger and repression has triggered in recent years a dramatic, worldwide reform of political and economic systems. Never have so many people enjoyed, or at least experimented with democratic institutions. However, many strategies for economic development in Eastern Europe and Latin America have failed with the result that entire economic systems on both continents are being transformed. This major book analyzes recent transitions to democracy and market-oriented economic reforms in Eastern Europe and Latin America. Drawing in a quite distinctive way on models derived from political philosophy, economics, and game theory, Professor Przeworski also considers specific data on individual countries. Among the questions raised by the book are: What should we expect from these experiments in democracy and market economy? What new economic systems will emerge? Will these transitions result in new democracies or old dictatorships?