2006-03-01, English, Article, Journal or magazine article edition: Learning and economic policy choices. Meseguer, Covadonga

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Physical Description
  • Magazine/​Journal article
Published
  • Elsevier B.V., 2006 March
Language
  • English

Edition details

Title
  • Learning and economic policy choices.
Appears In
  • European Journal of Political Economy, v.22, no.1, 2006 March, p.156(23) (ISSN: 0176-2680)
Author
  • Meseguer, Covadonga
Published
  • Elsevier B.V., 2006 March
Physical Description
  • Magazine/​Journal article
Subjects
Target Audience
  • Academic
Summary
  • To link to full-text access for this article, visit this link: http:/​/​dx.doi.org/​10.1016/​j.ejpoleco.2005.06.002 Byline: Covadonga Meseguer Keywords: Economic policy reform; Learning; Emulation; Coercion; Policy convergence Abstract: This paper investigates whether governments embark on market-oriented reforms as a result of learning. I assume that governments are rational learners who update initial beliefs about the effectiveness of different policies and choose policies on the basis of the updated beliefs. The model of learning is applied to four policy choices: the decision to grant independence to central banks, the decision to liberalize trade, the decision to privatize, and the decision to enter into agreements with the IMF. I also explore whether convergence toward neo-liberal economic policies results from external imposition or simple imitation. I find that learning, in isolation from or in combination with the other mechanisms, explains the decision to liberalize trade, to privatize, and to enter into agreements with the IMF, while none of the mechanisms of convergence explains why governments grant independence to central banks. Author Affiliation: Department of International Studies, CIDE, 3655 Carretera de Mexico-Toluca, 01210 Mexico City, Mexico Article History: Received 29 September 2003; Revised 26 November 2004; Accepted 14 June 2005
Terms of Use
  • COPYRIGHT 2006 Elsevier B.V.
Language
  • English
Database
  • Gale Academic OneFile
Identifier
  • 197790912

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