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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

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.

Suggested Citation

  • Pm, Abdul Sameer, 2011. "Can we relate economic performance to policy unambiguously?: Lessons from the experiences of Latin America, East Asia, China and India," MPRA Paper 49627, University Library of Munich, Germany, revised 27 Sep 2013.
  • Handle: RePEc:pra:mprapa:49627
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    File URL: https://mpra.ub.uni-muenchen.de/49627/1/MPRA_paper_49627.pdf
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    References listed on IDEAS

    as
    1. Easterly, William & Kremer, Michael & Pritchett, Lant & Summers, Lawrence H., 1993. "Good policy or good luck?: Country growth performance and temporary shocks," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 459-483, December.
    2. Eduardo Lora, 2001. "Structural Reforms in Latin America: What Has Been Reformed and How to Measure It," IDB Publications (Working Papers) 3338, Inter-American Development Bank.
    3. Abhijit Banerjee & Lakshmi Iyer, 2005. "History, Institutions, and Economic Performance: The Legacy of Colonial Land Tenure Systems in India," American Economic Review, American Economic Association, vol. 95(4), pages 1190-1213, September.
    4. 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.
    5. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Economic Policy; Economic Performance. Ambiguity. Institutions;

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform
    • P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects

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