scholarly journals The Privatization Process: A Natural Order Or Shock Therapy?

2011 ◽  
Vol 14 (1) ◽  
pp. 7
Author(s):  
Mary M. Cutler
Keyword(s):  
Empirical Evidence ◽  
Shock Therapy ◽  
Economic Liberalization ◽  
Natural Order ◽  
Order Case ◽  
Privatization Process ◽  
Simultaneous Change

<span>McKinnon (1991) argues that there is a natural order of economic liberalization and privatization. Sachs (1990) and Becker (1995) argue that the value of speed is so important it outweighs the value of waiting to discover the optional sequence. This paper investigates the question of order as it specifically applies to privatization of the industrial and financial sectors. Empirical evidence indicates that, while order is important, simultaneous change provides the necessary order. In this case, there is, in fact, no conflict between the natural order case and the shock therapy argument. A quick leap, the simultaneous privatization of the industrial and financial sectors, provides the necessary order.</span>

Concatenation of Circumstances or Historical Regularity?

2009 ◽  
pp. 75-84
Author(s):  
V. Popov
Keyword(s):  
Transition Economies ◽  
Government Expenditure ◽  
Previous History ◽  
Shock Therapy ◽  
Economic Liberalization ◽  
Institutional Capacity ◽  
Government Failure ◽  
Stage Of Development ◽  
Optimal Policies ◽  
Cis Countries

Why have many transition economies succeeded by pursuing policies which are so different from the radical economic liberalization (shock therapy) that is normally credited for the economic success of countries of Central Europe? First, optimal policies are context dependent, they are specific for each stage of development and what worked in Slovenia cannot be expected to work in Mongolia. Second, even for the countries with the same level of development reforms that are necessary to stimulate growth are different; they depend on the previous history and on the path chosen. The reduction of government expenditure as a share of GDP did not undermine significantly the institutional capacity of the state in China, but in Russia and other CIS countries it turned out to be ruinous. The art of the policymaker is to create markets without causing government failure, as happened in many CIS countries.

MILTON FRIEDMAN IN CHILE: SHOCK THERAPY, ECONOMIC FREEDOM, AND EXCHANGE RATES

2020 ◽  
Vol 42 (1) ◽  
pp. 105-132 ◽  
Author(s):  
Sebastian Edwards ◽  
Leonidas Montes
Keyword(s):  
At Risk ◽  
Exchange Rate ◽  
Exchange Rates ◽  
Economic Freedom ◽  
Shock Therapy ◽  
Economic Liberalization ◽  
Political Freedom ◽  
The Political ◽  
Milton Friedman ◽  
The World

We analyze Milton Friedman’s two visits to Chile, in March 1975 and November 1981. We rely on a number of sources, including Friedman’s archives, press archives in Chile and the rest of the world, interviews, and the papers and recollections of some of those who accompanied Friedman during his meeting with Pinochet. Although Friedman’s 1975 visit has been widely discussed, his 1981 visit has been largely neglected. However, this visit was particularly important as it preceded a severe currency and banking crisis, stemming from an overvalued fixed exchange rate. The crisis put at risk the influence of the “Chicago Boys” and the political and economic liberalization process. We analyze Friedman’s views regarding Chile’s pegged exchange rate strategy followed between 1979 and 1982, and his position on economic and political freedom.

scholarly journals Economic Liberalization And Its Link To Convergence: Empirical Evidence From RCEP and TPPA Countries

2021 ◽  
Vol 18 (3) ◽  
pp. 439-460
Author(s):  
Sonia Kumari Selvarajan ◽  
Rossazana Ab-Rahim
Keyword(s):  
Economic Growth ◽  
Empirical Evidence ◽  
Financial Liberalization ◽  
Lao Pdr ◽  
Economic Liberalization ◽  
Annual Data ◽  
Pooled Mean Group ◽  
Convergence Clubs ◽  
Convergence Club ◽  
Asean Countries

Economic liberalization has been the emphasisof adjustment policies in developing countries; ASEAN countries jumped on the bandwagon and espousedeconomic reforms by liberalizingits international trade andfinancial policies. Through the development of free tradeagreement policies such as AEC and RCEP,regional economic integration is accelerating in South East Asia; not leaving behind the less developed member countries such as Cambodia, Lao PDR, Myanmar and Vietnam (CLMV). Hence, the objectives ofthis paper are to examine the dynamic impact of economic liberalization (financial and trade liberalization) on ASEAN’seconomic growth and to assess the possibility of the existence of convergence club between ASEAN and its RCEPcounterparts. Using the annual data covering the period of 1994to 2014, the analysis is based on the Pooled Mean Group (PMG) estimations for liberalization analysis while the Phillips and Sul (2007) methodology is used to assess the economic convergence clubs. The empirical evidence suggests that both trade and financial liberalization play a significant role in ASEAN’seconomic growth. For convergencein RCEP,full sample find an absence of homogenous convergence;as a result, four club convergencesare formed.The result highlights the importance of trade and financial liberalization in enhancing economic growth of ASEANandimpliesthat strong commitments in continuation of liberalization and integration policies arerecommended to promote a sustained economic growth.

scholarly journals ECONOMIC LIBERALIZATION AND THE ENVIRONMENTAL KUZNETS CURVE: SOME EMPIRICAL EVIDENCE

2017 ◽  
Vol 42 (1) ◽  
pp. 1-15 ◽  
Author(s):  
YAGHOOB JAFARI ◽  
ANDREA ZIMMERMANN ◽  
MASOUD YAHOO ◽  
MARYAM FARHADI
Keyword(s):  
Empirical Evidence ◽  
Environmental Kuznets Curve ◽  
Economic Liberalization ◽  
Kuznets Curve

Democratization and Economic Liberalization in the Postcommunist World

2007 ◽  
Vol 40 (3) ◽  
pp. 254-282 ◽  
Author(s):  
M. Steven Fish ◽  
Omar Choudhry
Keyword(s):  
Social Science ◽  
Shock Therapy ◽  
Economic Liberalization ◽  
Living Standards ◽  
Washington Consensus ◽  
Political Regime ◽  
Short Term ◽  
Neoliberal Economics ◽  
The Relationship

How does economic liberalization affect political regime? Economic liberalization is widely regarded as inimical to democratization. The “Washington Consensus,” which generally endorses “shock therapy” and envisions a basic compatibility between economic liberalization and democratization, is widely disdained in social science. Many scholars hold that neoliberal economics depresses popular living standards and exacerbates socioeconomic inequalities, thereby compromising democratization. Focusing on the postcommunist region, this article tests this hypothesis. It examines the data that have been used to assess the relationship between economic liberalization and political democratization and presents analyses using more appropriate and differentiated techniques. The authors find that economic liberalization advances rather than undermines democratization. Using Engle-Granger analysis, they find that although economic liberalization has no discernible impact on democratization in the short term, democratization adjusts in the direction of a long-term equilibrium to which economic liberalization contributes substantially.

Challenges to the social motivation theory of autism: The dangers of counteracting an imprecise theory with even more imprecision

2019 ◽  
Vol 42 ◽  
Author(s):  
Mirko Uljarević ◽  
Giacomo Vivanti ◽  
Susan R. Leekam ◽  
Antonio Y. Hardan
Keyword(s):  
Empirical Evidence ◽  
Social Motivation ◽  
Motivation Theory ◽  
The Social

Abstract The arguments offered by Jaswal & Akhtar to counter the social motivation theory (SMT) do not appear to be directly related to the SMT tenets and predictions, seem to not be empirically testable, and are inconsistent with empirical evidence. To evaluate the merits and shortcomings of the SMT and identify scientifically testable alternatives, advances are needed on the conceptualization and operationalization of social motivation across diagnostic boundaries.

Integrating perspectives: How the development of second-personal competence lays the foundation for a second-personal morality

2020 ◽  
Vol 43 ◽  
Author(s):  
John Corbit ◽  
Chris Moore
Keyword(s):  
Empirical Evidence ◽  
Developmental Process ◽  
Focal Point ◽  
Personal Information ◽  
Personal Competence ◽  
Triadic Interactions ◽  
Personal Morality ◽  
Integrative Process

Abstract The integration of first-, second-, and third-personal information within joint intentional collaboration provides the foundation for broad-based second-personal morality. We offer two additions to this framework: a description of the developmental process through which second-personal competence emerges from early triadic interactions, and empirical evidence that collaboration with a concrete goal may provide an essential focal point for this integrative process.

Men Are Hierarchical, Women Are Egalitarian: An Implicit Gender Stereotype

2004 ◽  
Vol 63 (2) ◽  
pp. 107-111 ◽  
Author(s):  
Marianne Schmid Mast
Keyword(s):  
Empirical Evidence ◽  
Implicit Association Test ◽  
Gender Stereotype ◽  
Association Test ◽  
Implicit Association ◽  
Two Samples

The goal of the present study was to provide empirical evidence for the existence of an implicit hierarchy gender stereotype indicating that men are more readily associated with hierarchies and women are more readily associated with egalitarian structures. To measure the implicit hierarchy gender stereotype, the Implicit Association Test (IAT, Greenwald et al., 1998) was used. Two samples of undergraduates (Sample 1: 41 females, 22 males; Sample 2: 35 females, 37 males) completed a newly developed paper-based hierarchy-gender IAT. Results showed that there was an implicit hierarchy gender stereotype: the association between male and hierarchical and between female and egalitarian was stronger than the association between female and hierarchical and between male and egalitarian. Additionally, men had a more pronounced implicit hierarchy gender stereotype than women.

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