ABSTRACT

INTRODUCTION Economic liberalism had little influence in development debates after the mid-1970s, when it was statist-nationalism that set the agenda for policy debates. Unlike the early years of the New Order, when the pragmatism of the technocrats had given some currency to market ideas, the increase in national income following the two oil booms led to an expansion of state controls in virtually all areas of social life. For development policy specifically, increasing centrally-allocated resources meant that priority was given to large-scale industrial projects closely regulated by the state. Remarkably few policy-makers publicly advocated liberal economic prescriptions.