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This thesis analyzes the People's Republic of China's modernization strategy in order to test the hypothesis according to which the "open-door" policy might represent a shift from Marxism to a Neoclassical economy model. To do so, the author compares the performance realized by the Special Economic Zones (SEZs) and by the newly established Shanghai-Pudong New Area (1990). Although it benefits from the fourteen year old SEZs experience, it is argued, Pudong duplicates the flaws inherent to the SEZs and fails to offer advancement over their development. The author then suggests that China's initial objective to build a strong modern socialist country has apparently been gradually displaced by an evolutionary process of change similar to that in the Asian New Industrialized Countries (NICs), namely South Korea, Taiwan, Hong Kong and Singapore.

Under what conditions did conservative governments of the major industrial countries commit themselves to building domestic institutional frameworks for embedded liberalism as an international economic subsystem? As a way of answering the question, this study looks into informal and formal institutional arrangements for domestic compromise among classes and sectors. During the 1950s, governments in the United States, Britain, France, and West Germany sought to accommodate working-class demands and achieve a stable domestic economy within the institutional limits set by the prior experiences dating back to the interwar years. At the informal level, organized labor and business community in each country interacted with each other to produce varying forms of labor-management conflict resolution mechanism. At the formal level, political parties became more centrist in the domestic economic policy areas in order to maximize votes in an era of catch-all party politics. National outcomes varied from the semi-privatized welfare state in the United States to the liberal Keynesian welfare state in Britain to the dirigiste interventionist state in France to the social market economy in West Germany. Although those nationally distinct institutional arrangements reduced international policy coordination, embedded liberalism could work as long as participating countries shared the social purpose that domestic stability and international liberalization should not be incompatible.

This is a study about the political economy of redemocratization in less developed countries (LDCs). It investigates the politics and economics of restructuring government corporations, as the Philippines returned to representative democracy in 1986. It does so by adopting an expanded version of theories of rent-seeking to explain choices and implementation of privatization policies. The study challenges most works on privatization which primarily attribute slow progress to economic constraints. Instead, it argues that reformist pressures and implementation barriers obtain from explicit calculations of material and political gain by rent-seeking groups. Private and state-based rentiers significantly determine the substantive content as well as the timing and direction of policy reforms, when they are politically valued by fledgling and beleaguered democratic regimes. But rentierism also multiplies under a democratic regime that seeks to end the economic excesses of one-man rule by re-establishing the primacy of business enterprise. The study suggests that the greater challenge to LDCs is to widen public access to state resources and enhance competitive prowess.

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The challenge of the South African government and economic policy is to achieve sustainable growth. Sufficient jobs are not being created after the political change that occurred in 1994. To address these challenges economic policy of government are analysed relative to theory, to lessons learned from East Asia (international best practice) and to recommendations of international economic organizations. This study is divided into 8 chapters. Chapter 1 comprises a general introduction to economic policy which addresses a particular economic phenomenon and explains the nature of the relationships between different economic variables, the research problem and the objectives of the study. Chapter 2 an overview of the theories of growth is described. The theories of economic policy are also described as well as a chronological outlay of all economic policies that influenced growth since the new political dispensation in 1994. In chapter 3 the first article analyses all the macroeconomic policies and reasons are sought why sufficient jobs are not being created after the 1994 political change that occurred. In chapter 4 the second article focuses on monetary policy. Against price stability as the primary objective of inflation targeting, the role of COSATU is analysed regarding the relation between inflation and growth. In chapter 5 the third article analyses the reasons for volatility and the macro prudential measures available to monetary authorities. The consequence of the 2008 financial crisis was reduced growth in the world and currency volatility. In chapter 6 the fourth article analyses the limitations in applying existing instruments to achieve financial stability. A new perspective is debated to reduce inflation to counter the negative impact of a volatile exchange rate towards economic growth. In chapter 7 the fifth article analyses the causes and challenges of high government debt created by counter cyclical fiscal policy. This high government debt neutralizes the sustainability of a stimulatory stance of fiscal policy which is needed in South Africa. In chapter 8 the conclusions and recommendations are presented about important policy aspects to ensure financial stability and sustained growth. Unemployment has always been a concern in less developed countries and the concern increased after the USA financial crisis of 2008. Probable reasons for unemployment in less developed countries are a lack of resources, a lack of capital and a lack of skills. The peculiar economic scenario of South Africa is analysed. South Africa possesses very high unemployment rates according to international standards. The probable solution is high sustainable growth. Before 1994 South Africa could not attract foreign capital to finance growth because of the prevailing political dispensation. After 1994 South Africa attracted substantial foreign capital (however volatile in nature) which did not create sustainable growth. Regardless of this bigger volatile capital inflow, national saving as a percentage of GDP continued to deteriorate. There exist numerous structural problems in the South African economy. A new and fresh viewpoint regarding the application of policies is debated to address imbalances in the economy and to create sustainable growth. The unacceptable low levels of growth and low levels of employment have to be addressed in a new manner to create long term solutions. The answer to these problems cannot be found in short term economic- and short term political activities of the authorities. The cornerstones for development are anchored in the new strategic plan of the Department of Planning. Elements of various theories, for example the Neoclassical growth model and elements of policy theories are addressed. The developments in East Asia are addressed as well as recommendations of international economic organizations. Answers are sought to create sustainable growth in South Africa. / Thesis (PhD (Economics))--North-West University, Vaal Triangle Campus, 2013

Bibliography: leaves 256-319. / v, 319 leaves ; 30 cm. / Title page, contents and abstract only. The complete thesis in print form is available from the University Library. / Thesis (Ph.D.)--University of Adelaide, Dept. of Politics, 1999

Bibliography: p. 257-268. / x, 268 p. : ill. ; 30 cm. / Title page, contents and abstract only. The complete thesis in print form is available from the University Library. / Thesis (Ph.D.)--University of Adelaide, Dept. of Social Inquiry, 2000

Thesis (Ph.D.) -- University of Adelaide, Dept. of Social Inquiry, 2000. / Bibliography: p. 257-268.