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External Liberalization in Asia, Post-Socialist Europe, and Brazil (Hardcover, New)
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External Liberalization in Asia, Post-Socialist Europe, and Brazil (Hardcover, New)
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Total price: R2,937
Discovery Miles: 29 370
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This book reviews the experience of 14 countries with external
liberalization and related policies, based on papers written by
national authors following a common 0000oeconomic methodology. The
methodology, the papers' main results, and policy implications are
summarized in the introductory chapter.
The book reports on a follow-on project to the country studies
presented in Lance Taylor (ed.), External Liberalization, Economic
Performance, and Social Policy, OUP, 2001. The new project
represents a significant extension of the earlier work in that it
focuses principally on formerly socialist European economies
(Hungary, Poland, Russia), Asian economies (consistently growing
China, India, Singapore, and Vietnam; the 1997-98 crisis victims
Indonesia, Korea, Malaysia, and Thailand; and cyclically stagnant
Philippines and Turkey). Brazil is also included as an important
comparator. Macroeconomics has traditionally been less actively
pursued in Asia and the transition economies than, say, in Latin
America. The 1997-98 crisis awoke the Asians to the importance of
macro, and the present book is in part a response to the
development.
A distinguishing feature of the book is the common methodology,
which focuses on the mechanisms via which effective demand is
generated and the interactions of labor productivity, employment
growth, and income distribution. The country papers show clearly
how trade and capital account liberalization along with changes in
the real exchange rate affected demand, productivity, and
employment at the country level. They also trace through shifts in
the overall income distribution and the incidence of poverty. The
authors of the papers bring a wealth of insightinto their thick
descriptions a la Clifford Geertz's famous Balinese cockfight about
how diverse economies responded to rather similar reform packages
and offer lessons about ongoing institutional change. They also
suggest policy shifts that may help make economic performance
better in the future than it has been in the past.
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