Hung Tran Van

Vietnam National University of Forestry, Southern Campus,

Ho Chi Minh city, Vietnam

tranhungln2@gmail.com

Liberal reforms & economic growth: Current issues and interrelations 

Ai Tran Huu

Van Hien University,

Ho Chi Minh city, Vietnam

aihuutran@gmail.com 

Denis Ushakov

International College Suan Sunandha Rajabhat University,

Bangkok, Thailand

fintaliano@yandex.ru

Abstract. Economic liberalization in today’s conditions is not so much an effective tool of national economy stimulation but is rather a precondition for its connection to the world markets and global economic space overall. The paper investigates economic effectiveness of liberalization that is determined by a variety of conditions and features in its implementation. Basing on the analysis of correlation between economic liberalization dynamics and macroeconomic indicators of the selected countries of the world, the magnitude of liberal reforms’ stimulating effect in the early 21st century is estimated, and theoretical conclusions regarding liberal economic reforms potential in our time are offered along with the recommendations on strategic priorities and tactical tools to improve national business environment and increase global economic attractiveness.

Received: May, 2017

1st Revision: August, 2017

Accepted: November, 2017

DOI: 10.14254/2071-8330.2017/10-4/8

JEL Classification: F01, F29, H10

Keywords: business liberalization, government regulation, reform, modernization, global economy