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File2-page26 - tivity State seen as benevolent –...

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Role of State Regulation and Development Representative Countries (countries with more open access to polit- ical power, constraints on the executive, and greater political rights) have less burdensome regulation of entry . . . even controlling for per capita income . . . relates to views about the role of the state Paper’s Limitation: main source of identification is cross-sectional 2.2 Role of State We can identify three key phases in the history of policy making: 1. Era of the developmental state (1950-1980): – emphasis on social & industrial planning a) emphasis on state-led industrialization often behind trade and other barriers b) state plays key role in directing and coordinating economic ac-
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Unformatted text preview: tivity State seen as benevolent – questioned by some – for e.g Robert Bates (Harvard) & Peter Bauer (LSE) Mixed outcomes, i.e., successes in East Asia but failures in Africa and Latin America 2. Washington Consensus Era (1988 – onwards): ... change begin in 1980s, .e.g., with Thatcher and Reagan a) benevolence of big government b) focus on providing “level playing Feld” and “getting prices right” c) emphasis on macro-economic stability and Fscal discipline d) emphasis on openness e) emphasis on privatisation Development Economics, LSE Summer School 2007 23...
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