Avoid Hubris and Other Lessons for Reformers

Working Papers

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CDDRL Working Papers, page(s): 10

August 2004

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The past two decades have seen a worldwide shift to markets. Globalization has opened domestic markets to international competition. The ex-communist countries have converted themselves, to varying degrees, into market economies. In the low-income countries, privatization has shrunk state production. The results of this expansion of markets have been mixed. What lessons does the experience with reform, in both ex-communist and developing countries, hold for future developing-country reformers?

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