The efficacy of regulation in developing countries / Seema Hafeez

The receding role of direct state intervention coupled with a consensus on private sector-led growth and development has led to a reduction in economic regulation of industries. Most developing countries have undertaken liberalization and privatization as a first step toward free market regimes, though progress has been uneven. Although the benefits, in terms of economic growth, have been considerable, these have been limited to a few countries. Why has deregulation not worked for all? Using data from recently conducted surveys about regulatory constraints on the private sector firms in thirty countries, this paper presents the argument that for economic de-regulation to be effective it must be set within a holistic regulatory framework, which supports the efficient functioning of free market enterprise.

14 p. : graphs, tables

Bibliography: p. 14.