Liberal reforms & economic growth: Current issues and interrelations

Abstract

Economic liberalization in today’s conditions is not so much an effective tool of national economy stimulation but is rather a precondition for its connection to the world markets and global economic space overall. The paper investigates economic effectiveness of liberalization that is determined by a variety of conditions and features in its implementation. Basing on the analysis of correlation between economic liberalization dynamics and macroeconomic indicators of the selected countries of the world, the magnitude of liberal reforms’ stimulating effect in the early 21st century is estimated, and theoretical conclusions regarding liberal economic reforms potential in our time are offered along with the recommendations on strategic priorities and tactical tools to improve national business environment and increase global economic attractiveness.

Keywords

• business liberalization
• government regulation
• reform
• modernization
• global economy