Government Failures in Development
This paper takes as a given the proposition that, in many developing countries, governmental policies have been highly distortive and harmful to economic growth. These policies have included omissions, such as neglect of infrastructure, and commission such as highly restrictive trade regimes and credit rationing. The issues arising from recognition that governments, like markets, are imperfect are discussed.
Published: Journal of Economic Perspectives, Vol. 4, No. 3, pp. 9-23, (Summer 1990).