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Abstract

In the past, various great powers have taken the stage as models of economic and social development. Examples such as Great Britain, the Soviet Union, Japan, and the United States have had their time in the spotlight that has come and gone as flaws were exposed; and other countries have learned what they did well and what they did poorly. The great powers are not the only models, however. Much can be learned from small countries which are often free to experiment with new institutions and new policies. This paper describes lessons that can be learned from such countries though no one size fits all.

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal Business Economics.

Volume (Year): 47 (2012)
Issue (Month): 2 (April)
Pages: 97-103

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Handle: RePEc:pal:buseco:v:47:y:2012:i:2:p:97-103

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1. Jeffrey A. Frankel & Carlos A. Végh & Guillermo Vuletin, 2011. "On Graduation from Fiscal Procyclicality," NBER Working Papers 17619, National Bureau of Economic Research, Inc.
   
   • Frankel, Jeffrey A. & Vegh, Carlos A. & Vuletin, Guillermo, 2013. "On graduation from fiscal procyclicality," Journal of Development Economics, Elsevier, vol. 100(1), pages 32-47.
   • Frankel, Jeffrey A. & Vegh, Carlos A. & Vuletin, Guillermo, 2012. "On Graduation from Fiscal Procyclicality," Working Paper Series rwp12-011, Harvard University, John F. Kennedy School of Government.
2. Edwards, Sebastian, 1991. "Monetarism and Liberalization," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226184890, March.
3. repec:imf:imfeci:20 is not listed on IDEAS
4. Roger Gordon, 2008. "Report of the Editor: Journal of Economic Literature," American Economic Review, American Economic Association, vol. 98(2), pages 591-93, May.
   
   • Roger H. Gordon, 2010. "Report of the Editor: Journal of Economic Literature," American Economic Review, American Economic Association, vol. 100(2), pages 678-79, May.
5. Sebastian Edwards & Alejandra Cox Edwards, 2000. "Economic Reforms and Labor Markets: Policy Issues and Lessons from Chile," NBER Working Papers 7646, National Bureau of Economic Research, Inc.
   
   • Sebastian Edwards & Alejandra Cox Edwards, 2000. "Economic reforms and labour markets: policy issues and lessons from Chile," Economic Policy, CEPR & CES & MSH, vol. 15(30), pages 181-230, 04.

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:

1. Why we need small countries: they experiment with policies
   by Economic Logician in Economic Logic on 2012-05-17 14:57:00
2. What Georgia Can Teach the World
   by Michael Fuenfzig in The ISET Economist on 2012-05-17 14:35:19

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