chapter
Introduction to Part IV
ByDONALD CLARKE
Pages 7

How and how much to regulate commercial activity has always been controversial in developed countries, and the financial crisis of 2008 has brought new urgency to the debate. Policymakers in developing countries – particularly in those moving away from traditional socialism 1 – can therefore be forgiven for their reluctance to adopt developed-country prescriptions wholesale. Even if we ignore the question of whether what is good for developed economies is good for developing economies, the fact is that we are less sure than ever – at least in some realms – about what actually works for developed economies.