Big bang’ opportunity
By Ishrat Husain THE debate on the relative merits of “big bang” economic reforms vis-à-vis “gradual” reforms has preoccupied policymakers in many emerging nations since the collapse of the Soviet Union in the early 1990s. The proponents of “big bang” reforms argue that the latter will bring about a fundamental shift in people’s expectations about the future by altering the existing structure of the economy ...
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