Modern development strategy relies heavily on uncompromising orthodoxeconomic theory and a dogmatic faith in market efficiency. In contrast,the essays in this volume aim to emphasize the importance of historicexperience to evolve a more realistic and dynamic view of how suchdevelopment could be formalized. The volume goes on to evaluatefinancial reform in emerging economies and the importance of financialregulation in market-based economies.

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Kobil Ruziev

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