The Need for a New Theory of Economic Reform
UTS Working Paper No. 131
15 Pages Posted: 27 Jan 2006
Date Written: October 2003
The recent debate between Dabrowski, Gomulka and Rostowski, (2001) and Stiglitz and Ellerman (2001) as to key fators determining the success or failure of policies of liberalisation and privatization, illustrates the need for a concise theoretical foundation as to how, when and where policies that change underlying economic structures can be applied. This paper outlines such a model, which is based on the perception of gradations in the process of development, and that the introduction of new ownership structures, market mechanisms and financing techniques are not necessarily solutions without providing for changes in economic, societal and legal infrastructures.
Keywords: privatizations, public private partnerships, economic reform
JEL Classification: G34, L33, P11, P52
Suggested Citation: Suggested Citation