28 March 2017
Venue: The People's Palace, Queen MaryUniversity of London, Mile End Road, London E1 4NS
How did the ‘open door policy’ help in catching-up? The Great Liberalisation of the 1990s
The Inaugural Lecture of Professor Sushanta Mallick
In this talk Sushanta Mallick examines how far the developing countries have come in their process of growth following the rapid pace of policy reforms in the 1990s which he calls the “great liberalisation” of the 1990s. He makes a key distinction between trade and financial liberalisation, finding that many low-income countries have benefitted from trade openness in improving their pricing power in the global market place but there is a long way to go in order to achieve the degree of financial deepening or openness that exists in high-income countries. He uses this international comparison as a backdrop to explore the prospects for further openness in the light of the recent financial crisis and the challenges facing developing countries.