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Can we relate economic performance to policy unambiguously?: Lessons from the experiences of Latin America, East Asia, China and India

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  • PM, ABDUL SAMEER
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    Abstract

    Economic policies influence the economic performance of a country. Policymakers are often trying to form the types of policies which countries should adopt in order to develop. But what types of policies is a question arises always. What is the role of policy in economic performance? This paper is an attempt to check whether we can infer about policy on the basis of economic performance. By analyzing the experiences of Latin America, East Asia, China and India we found that there is no unique universal policy which is consistent in all situations. Success of a particular policy not only lies on the policy taken but also on the characteristics of the country and its institutional background. The study reaches the conclusion that economic performance cannot be unambiguously related to Policies.

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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 49627.

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    Date of creation: 06 Apr 2011
    Date of revision: 27 Sep 2013
    Handle: RePEc:pra:mprapa:49627

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    Keywords: Economic Policy; Economic Performance. Ambiguity. Institutions;

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    1. Easterly, William, 2005. "National Policies and Economic Growth: A Reappraisal," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 15, pages 1015-1059 Elsevier.
    2. Abhijit Banerjee & Lakshmi Iyer, 2010. "History Institutions and Economic Performance: The Legacy of Colonial Land Tenure Systems in India," Working Papers id:2811, eSocialSciences.
    3. Eduardo Lora, 2001. "Structural Reforms in Latin America: What Has Been Reformed and How to Measure It," IDB Publications 39858, Inter-American Development Bank.
    4. William Easterly & Michael Kremer & Lant Pritchett & Lawrence H. Summers, 1993. "Good Policy or Good Luck? Country Growth Performance and Temporary Shocks," NBER Working Papers 4474, National Bureau of Economic Research, Inc.
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