Economic Policy – State versus Market Controversy

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

There was wide ranging debate in the 1950s and 1960s in the developing countries about the role of the state in their economy when these countries attained independence, with developing their economies and eradicating poverty and backwardness being seen as their key priority. In the post-World War II period, the all-pervasive ‘laissez-faire’ model of development was rejected, because during the pre-war period such policies had failed to resolve the economic crisis. Therefore, Keynesian interventionist economic policies were adopted in most of these countries.
This is a theoretical paper, which is based on review of published papers in the field of economic policies, especially about the debate of the role of the state and market. In this study a wide range of sources of data are presented, which includes statistics generated by a number of organisations that are not agencies of a particular government. This is useful since data are compiled by a wide range of organisation such as IMF, World Bank and WTO. Secondary data would help our study to answer the research questions. There seems to be greater potential for examining statistical data produced by various organisations that are relatively independent of the national government.
The study finds that more than two decades of pursuing neo-liberal policies has reduced the progressive aspects of the state sector. The on-going crisis in terms of high unemployment, poverty and inequality provides an opportunity to critically reflect on past performance and on the desirability of reviving the role of the state sector in a way that will contribute to human development.
Original languageEnglish
Title of host publicationProceedings of the 8th International Conference on Applied Economics
Subtitle of host publicationContemporary Issues in Economy under the title 'Market or Government?'
EditorsAdam P. Balcerzak
PublisherInstitute of Economic Research and Polish Economic Society
Pages26-50
Number of pages25
ISBN (Print)978-83-937843-7-0
DOIs
Publication statusPublished - Jun 2015
Event8th International Conference on Applied Economics: Contemporary Issues in Economy "Market or Government?" - Torun, Poland
Duration: 18 Jun 201519 Jun 2015
Conference number: 8

Conference

Conference8th International Conference on Applied Economics
CountryPoland
CityTorun
Period18/06/1519/06/15

Fingerprint

Economic policy
Role of the state
Poverty
Government
Laissez-faire
Economic crisis
Second World War
Unemployment
Human development
World Bank
Keynesian economics
Developing economies
Statistics
Secondary data
Developing countries

Cite this

Siddiqui, K. (2015). Economic Policy – State versus Market Controversy. In A. P. Balcerzak (Ed.), Proceedings of the 8th International Conference on Applied Economics: Contemporary Issues in Economy under the title 'Market or Government?' (pp. 26-50). Institute of Economic Research and Polish Economic Society. https://doi.org/10.24136/eep.proc.2015.1
Siddiqui, Kalim. / Economic Policy – State versus Market Controversy. Proceedings of the 8th International Conference on Applied Economics: Contemporary Issues in Economy under the title 'Market or Government?'. editor / Adam P. Balcerzak. Institute of Economic Research and Polish Economic Society, 2015. pp. 26-50
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Siddiqui, K 2015, Economic Policy – State versus Market Controversy. in AP Balcerzak (ed.), Proceedings of the 8th International Conference on Applied Economics: Contemporary Issues in Economy under the title 'Market or Government?'. Institute of Economic Research and Polish Economic Society, pp. 26-50, 8th International Conference on Applied Economics, Torun, Poland, 18/06/15. https://doi.org/10.24136/eep.proc.2015.1

Economic Policy – State versus Market Controversy. / Siddiqui, Kalim.

Proceedings of the 8th International Conference on Applied Economics: Contemporary Issues in Economy under the title 'Market or Government?'. ed. / Adam P. Balcerzak. Institute of Economic Research and Polish Economic Society, 2015. p. 26-50.

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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Siddiqui K. Economic Policy – State versus Market Controversy. In Balcerzak AP, editor, Proceedings of the 8th International Conference on Applied Economics: Contemporary Issues in Economy under the title 'Market or Government?'. Institute of Economic Research and Polish Economic Society. 2015. p. 26-50 https://doi.org/10.24136/eep.proc.2015.1