The Repressed Economy
Causes, Consequences, Reform. Economists of the Twentieth Century Series
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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What Reviewers Are Saying
`The book should be read by people who are interested in knowing the reasons for the unilateral policy reforms that a large number of developing countries are now in the process of carry out.' -- Sajal Lahiri, Economic Journal `The nearly 600 pages, containing 22 essays, in this volume, all of them written in the past 15 years, are a monument to the industry, erudition, analytical skills, and persuasiveness of Deepak Lal.' -- H.W. Arndt, Economic Development and Cultural Change