• Summary
  • Contents
  • Subject index

Economic Reforms in SAARC Countries presents a cross-country comparison of development indicators in the SAARC countries with respect to the recent Liberalization, Privatization and Globalization (LPG). Presenting an empirical analysis, the book brings in the theoretical background relating to the growth of public expenditure as articulated by Adolf Wagner and other researchers in the 19th and early 20th centuries along with the Displacement Effect Hypothesis as advanced by Peacock and Wiseman in the mid-20th century. This book re-examines these theories and the views of researchers with respect to the changes in economic policies and studies the relevance of these in the present context. The book re-interprets the theories in the light of the impact of policy changes with time series analysis highlighting the changes in the structure of the estimated equation using dummy variables. The book discusses the differential growth of a few macro-economic variables in the SAARC countries with respect to time in the pre- and post-LPG period. It examines the determinants of development indicators in the post-LPG period identifying the most important determinants.

Summary and Conclusions
Summary and conclusions

During the latter part of the 20th century, developing countries adopted the policy of LPG. The planned development adopted earlier was considered to be ineffective to accelerate the desired economic growth. The adoption of LPG in many developing countries was a turning point which was a phenomenon in the 1970s and 1980s. In the liberalized economies, ‘deregulation’ encourages ‘free play’ of the players in the market/economy. This scenario has been experienced by many developing economies in the world, and the SAARC countries are of no exception. However, the adoption of the policy of liberalization and opening the market by removing barriers was in different times in the SAARC countries.

Researchers have studied the recent phenomenon of LPG and have opined ...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles