Journal of Business and Economic Development

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Towards a New Understanding of the Economic Liberalization Philosophy

Received: 03 February 2017    Accepted: 04 March 2017    Published: 22 March 2017
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Abstract

The liberalized regime in any economy aims to perform three functions: the mobilization of saving (the pooling effect), the allocation of saving to the investment projects (the allocation effects) and the facilitation of payment system operations (operational effect). These functions impact tremendously the developmental trend of the economy and impact its consequences both at short and long terms. In this context, the issue of which channels allow the bank to perform best their allocation mechanisms of the saving towards the profitable investment is a controversial one as the question is currently asked about whether the state or the market oriented perspective is more able to adjust rationally between the allocation costs and its revenues. This paper tries to highlight the steps of the market oriented perspectives on the efficiency system and their impact on the economic prosperity.

DOI 10.11648/j.jbed.20170203.13
Published in Journal of Business and Economic Development (Volume 2, Issue 3, August 2017)
Page(s) 156-160
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Liberalization, Efficiency, Development

References
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[2] Abdul Abiad and Ashoka Mody. (2005), Financial Reform: What Shakes It? What Shapes It? The American Economic Review 95 (1): 66-88.
[3] Akira Koshsaka. (2004), New Development Strategies beyond Washington Consensus, Palgrave Macmillan.
[4] Alex Fernandez Jilberto and André Mommen. (1996), Liberalization in the Developing World: Institutional and Economic Changes in Latin America, African and Asia, Taylor & Francis Group.
[5] Bruce R. Bolnick. (1987), Financial Liberalization with Imperfect Markets: Indonesia during the 1970s, Economic Development and Cultural Change 35 (3): 581-599.
[6] Barbara Fritz. (2007), Boom-Bust Cycles and Financial Liberalization by a Tornell: F. Westermann, Journal of Economics 92 (1): 92-97.
[7] C. P. Chandrasekhar. (2005), Financial Liberalization, Fragility and the Socialization of Risk: Can Capital Controls Work? Social Scientist 33 (3/4): 3-39.
[8] Daniel Lian Choon Beng. (1994), Gradual Financial Reform in Action: The Case of Thailand, 1979-92, Asean Economic Bulletin 10 (3): 297-315.
[9] Delano Villanueva and Abbas Mirakhor. (1990), Strategies for Financial Reforms: Interest Rate Policies, Stabilization, and Bank Supervision in Developing Countries, Staff Papers International Monetary Fund 37 (3): 509-536.
[10] Emil-Maria Claassen. (1992), Financial Liberalization and its Impact on Domestic Stabilization Policies: Singapore and Malaysia, Weltwirtschaftliches Archiv 128 (1): 136-167.
[11] Giovanni Andrea Cornia. (2004), Inequality, Growth, and Poverty in an Era of Liberalization and Globalization, Oxford University Press.
[12] Harry G. Broadman, Tiiu Paas, Paul J. J. Welfens. (2006), Economic Liberalization and Integration Policy, World Bank Washington DC, USA.
[13] Kanhaya L. Gupta and Robert Lensink. (2003), Financial Liberalization and Investment, Taylor & Francis Group.
[14] Oriana Bandiera, Gerard Caprio, Patrick Honohan and Fabio Schiantarelli. (2000), Does Financial Reform Raise or Reduce Saving, The Review of Economics and Statistics 82 (2): 239-263.
[15] Philippe Bacchetta. (1992), Liberalization of Capital Movements and of the Domestic Financial System, Economics New Series 59 (236): 465-474.
[16] Quan Li and Dale L. Smith. (2002), The Dilemma of Financial Liberalization: State Autonomy and Societal Demand, The Journal of Politics 64 (3): 764-790.
[17] Sérgio Pereira Leite and V. Sundararajan. (1990), Issues in Interest Rate Management and Liberalization, Staff Papers International Monetary Fund 37 (4): 735-752.
[18] Sofia A. Perez. (1998), Systemic Explanations, Divergent Outcomes: the Politics of Financial Liberalization in France and Spain, International Studies Quarterly 42 (2): 755-784.
[19] V. B. J. Tolentino. (1989), The Political Economy of Credit Availability and Financial Liberalization: Notes on the Philippine Experience, Savings and Development 13 (4): 321-335.
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Author Information
  • Department of Management Sciences, University of Adrar, Adrar, Algeria

  • Department of Management Sciences, University of Adrar, Adrar, Algeria

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  • APA Style

    Mostéfaoui Sofiane, Yousfat Ali. (2017). Towards a New Understanding of the Economic Liberalization Philosophy. Journal of Business and Economic Development, 2(3), 156-160. https://doi.org/10.11648/j.jbed.20170203.13

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    ACS Style

    Mostéfaoui Sofiane; Yousfat Ali. Towards a New Understanding of the Economic Liberalization Philosophy. J. Bus. Econ. Dev. 2017, 2(3), 156-160. doi: 10.11648/j.jbed.20170203.13

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    AMA Style

    Mostéfaoui Sofiane, Yousfat Ali. Towards a New Understanding of the Economic Liberalization Philosophy. J Bus Econ Dev. 2017;2(3):156-160. doi: 10.11648/j.jbed.20170203.13

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  • @article{10.11648/j.jbed.20170203.13,
      author = {Mostéfaoui Sofiane and Yousfat Ali},
      title = {Towards a New Understanding of the Economic Liberalization Philosophy},
      journal = {Journal of Business and Economic Development},
      volume = {2},
      number = {3},
      pages = {156-160},
      doi = {10.11648/j.jbed.20170203.13},
      url = {https://doi.org/10.11648/j.jbed.20170203.13},
      eprint = {https://download.sciencepg.com/pdf/10.11648.j.jbed.20170203.13},
      abstract = {The liberalized regime in any economy aims to perform three functions: the mobilization of saving (the pooling effect), the allocation of saving to the investment projects (the allocation effects) and the facilitation of payment system operations (operational effect). These functions impact tremendously the developmental trend of the economy and impact its consequences both at short and long terms. In this context, the issue of which channels allow the bank to perform best their allocation mechanisms of the saving towards the profitable investment is a controversial one as the question is currently asked about whether the state or the market oriented perspective is more able to adjust rationally between the allocation costs and its revenues. This paper tries to highlight the steps of the market oriented perspectives on the efficiency system and their impact on the economic prosperity.},
     year = {2017}
    }
    

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