The Effects of Economic Liberalization on Income Distribution: A Panel-Data Analysis
Chapter 7 in Wages, Employment, Distribution and Growth, 2006, pp 151-180 from Palgrave Macmillan
Abstract The economic liberalization process, undertaken on a global scale since the early 1980s, has induced support for a set of market-oriented policies that can be summarized as deregulation, privatization, liberalization of markets and macroeconomic discipline. This prescription creates the preconditions for the expansion of trade and the flow of investments across countries. The theoretical support for this development model is standard neoclassical theory (Jones 1988: 30–3; Corden 1993), which argues that trade, investment, and in general the market mechanisms boost growth and facilitate development. This view also holds that an important factor affecting growth and the effectiveness of the market system is the efficient organization of the domestic economy itself (Gilpin 1987: 265–6).
Keywords: Income Inequality; Income Distribution; Trade Volume; Unskilled Labour; Economic Liberalization (search for similar items in EconPapers)
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