The Repressed Economy: Causes, Consequences, Reform

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Overview

In this outstanding collection of essays on economic liberalization Deepak Lal, one of the world's leading development economists, questions why many developing countries have followed policies which have retarded both growth and equity, before discussing why and how these policies have come to be reversed. The Repressed Economy brings together Professor Lal's most important work on economies that function unsatisfactorily because of government policies that distort the working of the free market. He explains both why governments create these distortions and when, if at all, they are likely to heed the technocratic advice of the economist to eliminate or reduce them. The theme of the repressed economy is explored throughout these essays, which include applied studies of developing economies in Latin America, the Philippines, Kenya, Brazil, India and China. The role of ideas, interests and ideology are explored, as is the importance of differences in initial resources. Simple political economy models are developed to explain the actions of the governments concerned. An intellectual biography is included which outlines how Professor Lal's practical experience in the Third World led him to become a neo-liberal development economist.
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Product Details

Table of Contents

Acknowledgements
Introduction
1 Political Economy and Public Policy 3
2 Nationalism, Socialism and Planning: Influential ideas in the South 29
3 The Political Economy of Industrialisation in Primary Product Exporting Economies: Some Cautionary Tales 40
4 After the Debt Crisis: Modes of Development for the Longer Run in Latin America 76
5 The Political Economy of Economic Liberalization 97
6 A Liberal International Economic Order: The International Monetary System and Economic Development 127
7 Foreign Trade Regimes and Economic Growth in Developing Countries 169
8 International Capital Flows and Economic Development 198
9 Industrialization Strategies and Long-Term Resource Allocation 241
10 Distribution and Development: A Review Article 271
11 Public Enterprises 285
12 Shadow Prices and Political Economy (Comment on Harberger) 309
13 A Simple Framework for Analysing Various Real Aspects of Stabilisation and Structural Adjustment Policies 319
14 Why Growth Rates Differ: The Political Economy of Social Capability in 21 Developing Countries 345
15 Government Deficits, the Real Interest Rate and LDC Debt: On Global Crowding Out 363
16 World Savings and Growth in Developing Countries 398
17 The Real Exchange Rate, Capital Inflows and Inflation: Sri Lanka 1970-1982 425
18 Stolper-Samuelson-Rybczynski in the Pacific: Real Wages and Real Exchange Rates in the Philippines, 1956-1978 445
19 Why Poor People Get Rich: Kenya 1960-79 469
20 The Political Economy of Stabilization in Brazil 481
21 Economic Growth in India 515
22 The Fable of the Three Envelopes: The Analytics and Political Economy of the Reform of Chinese State Owned Enterprises 566
Name Index 585
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