Introduction
Economic liberalization is an idea as well as policy prescriptions inherently related to governance. Governance includes all aspects of the society, whereas economic liberalization transforms the economic relations and institutions to achieve some desired goals. According to C. M. Chaudhary, economic liberalization is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities; the doctrine is associated with classical liberalism. Thus, liberalization in short is “the removal of controls” in order to encourage economic development (Chaudhary 2008). As stated in Reference.com, economic liberalization refers to those government policies which promote economic growth by opening up trade to international markets, extending the use of markets, and lessening the restrictions and regulations placed on business (Reference 2017...
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Alauddin, M. (2017). Economic Liberalization and Governance. In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_1745-1
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DOI: https://doi.org/10.1007/978-3-319-31816-5_1745-1
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