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Liberalization or liberalisation (British English) is a broad term that refers to the practice of making laws, systems, or opinions less severe, [1] usually in the sense of eliminating certain government regulations or restrictions. The term is used most often in relation to economics, where it refers to economic liberalization, the removal or ...
t. e. Economic liberalization, or economic liberalisation, is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities. In politics, the doctrine is associated with classical liberalism and neoliberalism. Liberalization in short is "the removal of controls" to encourage ...
Economic liberalism is a political and economic ideology that supports a market economy based on individualism and private property in the means of production. [1] Adam Smith is considered one of the primary initial writers on economic liberalism, and his writing is generally regarded as representing the economic expression of 19th-century ...
The liberalization of trade, privatization, and the reduction of barriers to foreign capital would allow for increased investment, production, and trade, boosting the recipient country's economy. [4] [5] Countries that fail to enact these programmes may be subject to severe fiscal discipline. [3]
The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption -driven. The goal was to expand the role of private and foreign investment, which was seen as a means of achieving economic growth and ...
Capitalism. Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated.
The Washington Consensus is a set of ten economic policy prescriptions considered to constitute the "standard" reform package promoted for crisis-wracked developing countries by Washington, D.C. -based institutions such as the International Monetary Fund (IMF), World Bank and United States Department of the Treasury. [ 1 ]
v. t. e. A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy. [1] Transition economies undergo a set of structural transformations intended to develop market-based institutions. These include economic liberalization, where prices are set by market forces rather than ...