Why The Apparent Rush to Market Reform?

Abstract

This paper examines the increasing tendency toward the implementation of market-oriented economic reforms in many developing countries since the 1980s. Various analytical approaches to explaining economic reforms, including the public choice, class -analytic, and policy elites approaches are examined in this context. It is argued that country-specific influences are 1ikely to differ. Nevertheless, it is clear that over the years, there emerges a consensus of what constitutes an appropriate development strategy. This strategy will be pursued until it is perceived not to work anymore and will then be replaced by a new consensus. (010, Pl l, 055)