Description
After liberalization in the 1990s, growth rates were higher but were more volatile. The countries that did manage to sustain a high rate of growth followed a pragmatic reform path, which was neither a pure market nor a government-led approach. However, such pragmatic reform requires a deep knowledge of the economy derived from careful fact-based research. This volume contributes to the required knowledge on a range of issues such as drivers of growth, domestic reforms compared to external reforms, macroeconomic policy coordination, macroeconomic policy institutions and practices, the effect of openness and of global economic integration, poverty and the degree of inclusion, bottlenecks in infrastructure, and the performance of major sectors such as agriculture, industry and finance. The essays provide a finer understanding of the interaction between domestic strengths, external opportunities and government interventions.