In the 1980s and 1990s, during my long career at the International Monetary Fund, I visited many emerging market economies
throughout Asia, Eastern Europe, and Latin America.
After a period of dramatic economic decline in the 1990s, the emerging market economies
in Central and Eastern Europe experienced strong economic growth and a steady catch-up began with average welfare levels in the EU.
History has shown us that market economies
around the world have succeeded and socialist economies have not.
The IMF has been discussing a plan to reform its governance in a move that will give more power to emerging market economies
in Asia and elsewhere.
Intellectuals in the Western tradition came to think of the idea of non-discrimination as the foundation of economic theory and a source of the efficiency of market economies
The Department of Commerce (Commerce) classifies China as a nonmarket economy (NME) and uses a special methodology that is commonly believed to produce AD duty rates that are higher than those applied to market economies
Thomas Connors will continue to oversee the Advanced Foreign Economies and Emerging Market Economies
sections, as well as the Administrative Office.
However, market economies
are not without inequities and failures.
The lessons of history are clear: market economies
, not command-and-control economies with the heavy hand of government, are the best way to promote prosperity and reduce poverty.
Where once the focus of comparative economic studies was on a comparison between centrally-planned economies and market economies
, the transformation of the former centrally-planned economies into market economies
makes such studies less relevant.
As bastions of market economies
and cooperative business ventures, industrialized nations promote a stronger ethic of fairness than do many of the traditional societies studied so far, Henrich notes.
The original decision was taken to reflect the progress China and Russia were making to becoming market economies