Global Rules and Markets: Constraints over policy autonomy in developing countries Yilmaz Akyüz

The Recent years of rapid opening up and integration of developing countries into the world economy have placed a growing demand on policy makers and called for greater flexibility in the policy-making process but have simultaneously made many of the traditional instruments of development and macroeconomic policy ineffective or simply unavailable because of proliferation of international rules, obligations and practices. Consequently questions have been raised about whether such constraints over national economic policy are compatible with development, including the capacity to foster conditions for steady quality employment growth. This is the question this paper explores in detail.

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