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Economic liberalization, which is itself a vague term, occurs in various forms and in many countries. ____ . With a few notable exceptions, however, almost every country in the world has been affected by this trend. In the industrialized world, it was epitomized in the goals and policies of the Thatcher and Reagan governments. Also, encouraged by the World Bank and IMF, most less developed countries including India, Brazil, Argentina, and Mexico have made some movements towards economic liberalization.
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In fact, the movement towards liberalization relates to the change in thinking in the economics profession in the 1950s and 1960s |
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Even Vietnam has taken some small steps towards opening up its economy to the outside world |
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This policy recognizes the role of the state in the stabilization of a country's economy |
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Next, however, is the question of the relation of these trends to the overall global processes of economic development and social modernization |
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It is, therefore, difficult, if not impossible, to produce a list of countries that can be said to have fully liberalized |