Publication: Democracy, Market Economics and Development : An Asian Perspective
Date
2001-05
ISSN
Published
2001-05
Author(s)
Igbal, Farrukh
You, Jong-Il
Abstract
The book contains a selection of papers
presented at the Conference on Democracy, Market Economy,
and Development, whose objective was to examine the extent
of which democracy is important to the achievement of
sustainable development. While it is widely accepted that
economic freedom, as ensured broadly by the operation of the
economy according to market, or laissez-faire principles, is
a critical determinant of development, the role of political
freedom, as ensured broadly by the practice of democracy, is
less well understood. The papers focus largely on the
experience of East Asia in recent years, featuring:
democracy and the market economy, emphasizing both politics,
and economics as essential to improve the lives of citizens;
democracy and social justice, as intrinsic to development,
arguing that rights and liberties are best conveyed by the
democratic system of governance; participation, as
fundamental to democracy and development, for it is the
practice of democracy that is most critical to the long-term
sustainability of development; liberal participatory
democracy, as instrumental to prod sustainable economic
reforms, by ensuring the legitimacy of reform efforts.
Notably, the preconditions that participatory democracy
requires in order to fully support reforms, are discussed,
with supporting evidence from experiences in Latin America,
and Asia; and, political and economic institutions of Asia,
and the West, as set to converge, despite inconclusive
debates on Asian values.
Citation
“Igbal, Farrukh; You, Jong-Il. 2001. Democracy, Market Economics and Development : An Asian Perspective. © Washington, DC: World Bank. http://openknowledge.worldbank.org/entities/publication/e589ee84-67cc-58d8-8c08-41c0b3fc4d85 License: CC BY 3.0 IGO.”