"The world has learned about the perils of free market finance — global financial liberalization just does not work as advertised," said Dani Rodrik, a political economy professor at the John F. Kennedy School of Government at Harvard.
Executives say their business has grown because new financing methods and economic liberalization have made it easier for them to raise money.
Mr. Li, the prime minister, has praised market competition and the private sector, and Lou Jiwei, the finance minister, has advocated financial liberalization.
In fact, he notes, Latin America came closest to following the precepts of the "Washington consensus," which includes budget discipline, deregulation and the liberalization of trade and finance, but the record has mostly been dismal.
The moon-faced Gaidar, as Boris Yeltsin's former deputy prime minister and finance minister, was responsible for price liberalization and other economic reforms that caused widespread misery in the 1990's.
Republican and Democratic platforms now support policies that oppose trade liberalization - a return to finance regulation by Glass-Steagle, the closing of tax loopholes that allow corporations to shelter profits overseas, and a clamping down on tax inversions.
Referring to the World Bank, she states that '[e]conomists seem to have succeeded in reaching more or less a commonly accepted definition of globalization, namely as international economic integration that can be pursued through policies of 'openness', the liberalization of trade, investment and finance, leading to an 'open economy" [ 91].
IRAQ'S new finance minister, Kamel al-Gailani, announced a sweeping liberalization of his country's economy at the annual meeting of the World Bank and International Monetary Fund in Dubai early last week.
Therefore, computable general equilibrium (CGE 3 models based on the SAM database are applied as a useful tool for the evaluation of all sectors in the regional economy for economic policy, like regulation and interposition, relaxation of regulations, liberalization of trade, labor market, public finance, banking, transportation, and environment.
I believe the finance minister will have to present another round of liberalization and reforms to attract foreign investment.
In 1991, when Manmohan Singh, then the finance minister and now the prime minister, began the liberalization program that underpins the country's transformation, India's 854 million citizens had an average annual per capita income of only $1,300.
