ABSTRACT
India has only marginally modified that strategy; Egypt has talked a great deal about a major strategy overhaul, but so far has done little to implement it; Mexico has begun a process of austerity and the promotion of exports; and Turkey has been one of the star performers among the LDCs converted to an export-led growth strategy. The state enterprise sectors of all four are relatively old: in the case of Turkey, the public sector enterpises date from the late 1920s and the 1930s; in Mexico, from the 1930s; in India, from the late 1940s and 1950s; and in Egypt from about 1954 on. In all four countries, but to a much greater extent in Turkey and Mexico than in India and Egypt, austerity, reduced public outlays, and structural adjustment have taken a heavy social toll, with absolute declines in the standard of living for large segments of the population and with rising rates of unemployment.
