Economic liberalization in developing countries

Several governments in the developing countries have recently embarked on a liberalization of their foreign trade and financial markets; many have also decontrolled domestic prices and investment decisions. Such a transition from a less to a more liberal economy raises issues of great interest to policy makers and economists alike.
This volume attempts to address the most important of these issues: how quickly should liberalizing policies be implemented, and is there a preferred order or stage for their implementation? For example, should a country liberalize its international capital transactions before it liberalizes its commercial policy? Is a crisis in the balance of payments an ideal condition for embarking on such a policy? Should the expected losers of reforms be compensated for their losses, and how?
The book's contributors employ economic analysis and systematic empirical knowledge to assess these questions and seek solutions. In the final part, Chile's policies of liberalization in the 1970s are considered as a key case study in order to learn from the liberalization experience itself.