Market distortions and welfare in developing countries: A search for critical levels of reforms (Record no. 528241)
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| 000 -LEADER | |
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| fixed length control field | 02718nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 241121b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Banerjee, Dibyendu, Bhattacharyya, Purbasha and Chatterjee, Susmita |
| 245 ## - TITLE STATEMENT | |
| Title | Market distortions and welfare in developing countries: A search for critical levels of reforms |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | The Indian Journal of Labour Economics |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 67(2), Apr-Jun, 2024: p.501-522 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | This article investigates the relationship between market distortions, welfare outcomes, and reform strategies in developing countries. It argues that while reforms are essential to correct inefficiencies and stimulate growth, their impact on welfare depends on reaching critical thresholds of implementation. Partial or poorly sequenced reforms often exacerbate inequality, weaken social safety nets, and fail to deliver inclusive development. The study highlights how distortions in pricing, subsidies, and trade policies create structural imbalances that hinder welfare improvements, while comprehensive reforms can enhance efficiency and equity. By analyzing case studies from developing economies, the paper underscores the importance of identifying “critical levels” of reform—points at which policy changes begin to yield sustainable welfare gains. The findings emphasize that reform design must balance economic efficiency with social justice, situating welfare as a central objective of development policy rather than a secondary outcome. This work theoretically finds out the welfare implications of different reformatory policies in a small open developing economy using a 2 × 2 full-employment general equilibrium model with distorted factor and product markets. We have found that there exists a trade-off between labour market and credit market reforms, and that there might exist certain critical levels beyond which the implementation of the policies might produce perverse effects on social welfare. Even though our results are interesting and have important policy bearings, their applications in reality in a large democratic country like India, may not be practicable because of political economy reason.- Reproduced https://link.springer.com/article/10.1007/s41027-024-00496-3 |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Economics, Market Distortions, Welfare, Developing Countries, Economic Reforms, Critical Thresholds, Policy Analysis, Structural Adjustment, Poverty Reduction, Governance, Market distortion, Reformatory policy, Developing economy, Pareto optimal solution, Critical level of reform, Political economy consideration, General equilibrium model. |
| 9 (RLIN) | 49012 |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | The Indian Journal of Labour Economics |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) | |
| Subject DIP | WELFARE POLICY |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Institute of Public Administration | Indian Institute of Public Administration | 2024-11-21 | 67(2), Apr-Jun, 2024: p.501-522 | AR133624 | 2024-11-21 | Articles |