Article Type

Article

Description

The formulation and implementation of economic reforms generate winners and losers. The former are normally silent, the latter critically vociferous because the trickle-down benefits of growth come too late. The leader who ignores populist sentiments places himself in political peril and, at times, is tempted to adopt statist policies built upon nationalisation. The consequence is economic stagnation. To minimise the zero sum effect of economic reform a policy mix that ensures political stability through growth and social welfare has to be crafted. This entails: (i) an effective communications strategy that informs the public about the rationale and possible fallout of the reform; (ii) eliminates bureaucratic turf wars that impede reform implementation, (iii) ensures that policy objectives are responsive to domestic and external changes and; (iv)avoids over centralisation which can be counterproductive.

Publication Source

Criterion quarterly

Publication Date

10-2007

Pages

1-13

Notes

Published in "Criterion, Oct-Dec, 2007".

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