Conclusions and recommendations

The underlying assumption of the global economic policy framework has been that reducing State intervention and increasing global competition would result in a more efficient allocation of resources and higher rates of growth. Inflation control through a combination of tight monetary and fiscal policies has been the overriding objective of macroeconomic policy. Structural policies have focused on the reduction of the role of the State, the promotion of private enterprise, the deregulation of labour markets and the removal of capital controls.

Related Subject(s): Economic and Social Development