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What Small Countries Can Teach the World

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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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. Roger Gordon, 2009. "Report of the Editor: Journal of Economic Literature," American Economic Review, American Economic Association, vol. 99(2), pages 671-73, May.
  2. 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.
  3. Edwards, Sebastian & Edwards, Alejandra Cox, 1991. "Monetarism and Liberalization," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226184890, July.
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  5. Frankel, Jeffrey A., 2011. "Over-optimism in Forecasts by Official Budget Agencies and its Implications," Scholarly Articles 8705906, Harvard Kennedy School of Government.
  6. Gordon H. Hanson, 2010. "Why Isn't Mexico Rich?," Journal of Economic Literature, American Economic Association, vol. 48(4), pages 987-1004, December.
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