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During the last three decades, several countries have moved towards liberalization of their financial systems. This trend towards financial liberalization is part of a broader trend towards reduced direct intervention of the state in the economy. In several LDCs financial liberalization is also a deliberate attempt to move away from "financial repression" as a policy to fund government fiscal imbalances and also subsidized the priority sectors. Moreover ...
Transnationalization of economic life is one of the major developments in the late twentieth century. Globalization is centred on the integration of international markets for goods, services, technology, finance and labour. Greater integration has had several effects on the production in national economies, on the role of MNCs and FDI, product differentiation and other aspects of production and consumption. The current scenario can be called global economic ...
In Latin America, sudden collapse of the socialist states was interpreted as a ‘victory of the market economy’ discrediting various forms of social democratic concepts. Moreover, as a result of high growth rates from 1986 onwards and substantial increase in exports, the Chilean model became increasingly attractive as evidence of the viability of new liberal theories. Since early 1990s, the Latin America showed indications of slow recovery from generalised ...