Development Success: Historical Accounts from More Advanced by Augustin K. Fosu

By Augustin K. Fosu

What classes could be realized from "developed" nations that will be worthwhile for constructing and rising economies? With an emphasis on long term progress and improvement, this e-book presents historic debts of the advance suggestions of a decide upon set of complex international locations. every one case learn regularly provides the country's "successes" and the foundation reasons of these successes. equipped into 3 elements, it covers The Nordics (Finland, Norway, Sweden, and Denmark), different Industrially complicated nations (Japan, eire, and Switzerland), and Transition Economies (Czech, Hungary, and Poland). even if the booklet stresses that improvement concepts are, commonly, kingdom and context-specific, the old money owed are packed with recurrent subject matters, which should still offer necessary classes for constructing international locations and rising economies.

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The assurance of some standard-of-living ‘floor’ also facilitates the process of reform, as that minimizes the risk of citizens falling below daily subsistence, thus reasonably bounding the downside risk associated with reforms. For example, the Czech Republic established under transition a social safety net of unemployment compensation and social security benefits. This scheme 9 Introduction helped to galvanize support for the post-cold war reform (Svejnar and Uvalic, Chapter 11). Egalitarianism may also serve to insure against political disorder by minimizing polarization.

4. Consequently, throughout the post-war period, Finland was keen to enter free trade agreements. With the exception of the agriculture sector, protectionism never had strong political support. 7) may have enhanced this trend. In many countries, powerful lobbies of domestic industries or domestic unions have tried to obstruct foreign firms from penetrating the domestic market. Instead, in the case of Finland, the main political parties and main societal actors, such as business organizations and unions, were concerned with the need to open up the economy in all directions as a condition for the country’s political survival.

5 per cent and 25 per cent on trading and non-trading incomes, respectively). Some observers may, of course, see such obdurateness as foolhardy given the country’s apparently dire economic circumstances. Nevertheless, this stance is further testimony to Ireland’s commitment to maintaining intertemporal policy consistency. In the long run, such a consistent position should prove attractive not only to FDI, but also to domestic business. In the short run, however, the country might be losing potentially substantial revenues.

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