Confidence and the Liberal Economic Imperative

S. H. Hanke, and A. A. Walters, Capital Markets and Development. San Francisco: Institute for Contemporary Studies Press, 1991

8 Pages Posted: 29 Jan 2013

See all articles by Steve H. Hanke

Steve H. Hanke

Johns Hopkins University - Department of Economics

A. A. Walters

Independent

Date Written: 1991

Abstract

Chapter 9 from Steve Hanke and Alan Walters' "Capital Markets and Development:"

In developing countries, there is considerable debate about the desirability of moving away from a controlled economic order and toward a more liberal one. This debate represents a major change in thinking. Several developments have motivated this change. An accumulation of unambiguous scholarly evidence has shown that central control and interventionism retard economic progress (Scully 1988). Today’s observations provide a booming echo of yesterday’s scholarship. Interventionist developing countries have registered substandard performances, and their leaders have witnessed the collapse of the socialist economies of Eastern Europe. In addition, the deregulation and globalization of markets, as well as the accompanying innovations that have exploded during the past decade, have altered the international economic setting. In this new economic environment, even the most ardent dirigistes have been forced, as a matter of survival, to embrace some aspects of the liberal economic order.

Keywords: Hanke Walters Capital Markets Development Confidence Liberal Economic Imperative

Suggested Citation

Hanke, Steve H. and Walters, A. A., Confidence and the Liberal Economic Imperative (1991). S. H. Hanke, and A. A. Walters, Capital Markets and Development. San Francisco: Institute for Contemporary Studies Press, 1991. Available at SSRN: https://ssrn.com/abstract=2206420

Steve H. Hanke (Contact Author)

Johns Hopkins University - Department of Economics ( email )

3400 Charles Street
Baltimore, MD 21218-2685
United States
410-516-7183 (Phone)
410-516-8996 (Fax)

A. A. Walters

Independent

No Address Available

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