This large empirical study of corporate profitability in emerging markets during the 1980s and 1990s measures the intensity of competition. Data on corporate rates of return, profit margins, and output-capital ratios reveal that the recent liberalization has been associated with reduced...

Abstract During the 1980s and 1990s, many developing countries (DCs) have been engaged in far-reaching reforms of their financial systems, liberalising them and making them more market-oriented. This liberalisation, involving inter alia ‘financial de-repression’ has been inspired partly by...

India began its participation in financial and trade globalisation in an orderly and limited way under Dr. Singh’s stewardship in the 1990s. The record of slow and gradual economic reform indicates that Dr. Singh sought strategic rather than close integration with the world economy, that is...

This paper provides a briefing for developing countries to apprise them of the main issues which are relevant for development and social welfare in relation to the present and prospective discussions on competition policy in the WTO, UNCTAD, OECD and other fora. Although this is the immediate...

This book to which the present paper provides a foreword, investigates the interactions between globalization and economic nationalism in Asian countries. In this foreword, for South Asian countries the question of economic nationalism is considered through the lens of economic openness. Full...

Abstract The micro-economic behaviour of economic agents in the crisis-affected Asian economies, together with the private sector’s expanding role in developing countries in general have focused attention on issues of competition, corporate governance and finance. The paper explores the...

Abstract This paper provides a critical analysis of the World Bank’s new thinking on industrial policy. After outlining the changing perspectives on industrial policy put forward by the World Bank over the last three decades, we argue that the bank’s economists have taken one step forward...

Summary This paper reviews the policy debate on development issues and examines the economic prospects for developing countries at the beginning of the twenty-first century. It is specifically concerned with the question of whether developing countries will be able to meet the employment and...

When comparisons in terms of industrial policy lessons to be learned have taken place, it has tended to be solely vis-a-vis the 'development state' East Asian experience. This paper broadens the analysis and considers lessons which African countries can learn fro other so-called 'tiger'...

This paper explores the question of whether the institution of the stock market is likely to be helpful to developing countries in promoting their real economy and ensuring fast industrial growth. The case for and against the stock market inevitably involves a discussion of the important related...