Economic Liberalization: Impact, Insight and Issues

Piya Mahtaney ()
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Piya Mahtaney: St. Xavier’s College

Chapter Chapter 5 in Structural Transformation, 2021, pp 85-106 from Springer

Abstract: Abstract This puts into perspective the empirical literature and economic experience in space sofar as in globalization and trade liberalization is concerned. It begins by explaining that despite the tirade against globalization, reversing it is an untenable proposition. The chapter will conclude with an enumeration of the main insights and lessons as it were that emanates from empirical evidence spanning 50 years in the context of liberalization. One of the main insights elucidated by this chapter is that globalization is a deeply embedded feature, and it is clearly an outcome of economic evolution over the preceding century and a half. What we are currently witnessing is the end of a finance led globalization and the beginning of another phase, one that is sometimes described as development led globalization.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-33-4662-8_5

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DOI: 10.1007/978-981-33-4662-8_5

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