ABSTRACT
Several challenges identified from historical experience of emerging economies reforms and policies deserve closer discussion. It includes generating enough domestic savings to finance the investment required to reach gross domestic product per capita growth of at least 3% per year, to invest in human capital and to enable the adoption of the most advanced available technologies in all areas of production. To create the conditions that will enable foreign savings to complement domestic savings in providing financing for investment, to facilitate the external expansion of local firms in order to reassure the creation of global networks that will enrich the integration of the national economy into the global markets, to find efficient ways to reach private-public partnerships in building the economic infrastructure required to improve competitiveness through increased productivity. To offer a safety net to population marginalized by the process of modernization, to avoid damaging reversals in the process of opening up to foreign trade and investment.
