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What Small Countries Can Teach the World

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  • Frankel, Jeffrey A.

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.

Suggested Citation

  • Frankel, Jeffrey A., 2012. "What Small Countries Can Teach the World," Scholarly Articles 8694935, Harvard Kennedy School of Government.
  • Handle: RePEc:hrv:hksfac:8694935
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    References listed on IDEAS

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    1. 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.
    2. Jeffrey Frankel, 2011. "Over-optimism in forecasts by official budget agencies and its implications," Oxford Review of Economic Policy, Oxford University Press, vol. 27(4), pages 536-562.
    3. Kuznets, Paul W, 1988. "An East Asian Model of Economic Development: Japan, Taiwan, and South Korea," Economic Development and Cultural Change, University of Chicago Press, vol. 36(3), pages 11-43, Supplemen.
    4. Edwards, Sebastian & Edwards, Alejandra Cox, 1991. "Monetarism and Liberalization," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226184890, June.
    5. Gordon H. Hanson, 2010. "Why Isn't Mexico Rich?," Journal of Economic Literature, American Economic Association, vol. 48(4), pages 987-1004, December.
    6. Roger H. Gordon, 2010. "Report of the Editor: Journal of Economic Literature," American Economic Review, American Economic Association, vol. 100(2), pages 678-679, May.
    7. Nagel, Jack H., 1998. "Social Choice in a Pluralitarian Democracy: The Politics of Market Liberalization in New Zealand," British Journal of Political Science, Cambridge University Press, vol. 28(02), pages 223-267, April.
    8. 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, April.
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    Cited by:

    1. George Gerapetritis, 2014. "Europe’s new deal: a new version of an expiring deal," European Journal of Law and Economics, Springer, vol. 38(1), pages 91-115, August.

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