Friday, November 21, 2008
No correlation between liberalisation of financial markets and growth
This article looks at developing countries and their economic performance. It does not find a link between the liberalisation of financial markets and the economic growth in these countries - contrary to the claims of free market ideologues.
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And further, this article (http://journals.cambridge.org/action/displayAbstract;jsessionid=EB6E6126EA99E8AED010507C66B24355.tomcat1?fromPage=online&aid=293072), and others by Colin Hay provides the best evidence I've seen that there is no cause-effect relationship between low taxation/low welfare economies and economic openness and competitiveness, but rather that neoliberal dogma has imposed this as a self-fulilling prophecy as countries 'race to the bottom'
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