A Summary of the Developments Regarding The Economic Regime Implemented in the Developed and Developing Countries


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Hiç-Birol F. Ö.

International Conference on Eurasian Economies 2013, ICEE 2013, ISBN: 978-975-6319-21-5, Sankt-Peterburg, Russia, 1 - 04 September 2013, pp.125-132

  • Publication Type: Conference Paper / Full Text
  • City: Sankt-Peterburg
  • Country: Russia
  • Page Numbers: pp.125-132

Abstract

Since the developments regarding the economic regime in developed countries follow a different path as opposed to those in developing countries, in this article, these two groups of countries will be examined separately. Priority will be given to investigating the economic regime in developed countries due to historical and theoretical reasons.

Today, both in developed and developing countries, the economic activities basically are taken up by the private sector; nevertheless the government contributes to these activities through intervention, guidance, protectionism, and investment. Still the level of the government intervention, protection and public investments in developed countries appears to be at the minimum. The role of government in developing countries, on the other hand, seems to be more significant; the gravity of the government’s role depends on the degree of development for the countries in question. In the countries where the level of development is low, the role of the government increases, that is to say, the improvement in development decreases the role of the government.