Since the 1980s, decentralization has improved local development adaption in a number of sub-Saharan African nations. However, in recent decades, this approach of autonomous local administration has encountered challenges, such as a decline in funding. However, Côte d'Ivoire's Law No. 2003-208 of July 7, 2003, on the transfer and distribution of state competencies to local authorities, permits local elected officials to mobilise funds locally by establishing revenue-generating ventures in a number of industries, including tourism. How can local tourism support local development in Côte d'Ivoire's decentralized villages given the country's diminishing financial resources? The goal is to demonstrate how local tourist marketing may serve as a lever for funding local development in the dynamic of enhancing living standards. 200 household heads in neighbourhoods chosen by reasoned choice participated in a questionnaire survey, field observation, direct and semi-direct interviews, and documentary research as part of an empirical method. The municipality of Seguela seems to be brimming with a variety of tourism opportunities. To highlight these potentialities, local officials have undertaken to boost local tourism through the opening of roads, the improvement of potable water supply and electrification, the creation of public spaces for tourist attraction, the cleaning of gutters and street sweeping, and especially the establishment of the "Worodougou Lôgôba" festival, etc. These municipal investments have resulted in: the commercialisation of agricultural products and local cultural craftworks, the emergence of various means of mobility, the attraction of customers to restaurants, maquis, and hotels; thus creating direct and indirect jobs. Due to the increased foreign cash earned by tourist taxes, this has made it easier to optimise local budgetary resources.
This article examines the interaction between small and medium enterprises (SMEs) and territorial development in Akbou, Algeria, within the context of economic decentralization. Through a mixed-method approach, combining questionnaires, interviews, document analysis, and field observations, the study explores the role of SMEs in the local economy, as well as the challenges they face, such as access to financing and administrative complexity. Although rooted in local dynamics, Akbou's SMEs actively contribute to job creation, innovation, and strengthening social bonds. Cooperation between SMEs, local authorities, and support institutions is essential for overcoming obstacles and improving competitiveness. Recommendations include facilitating access to financing, promoting training, and modernizing infrastructure. These strategies could optimize the contribution of SMEs to territorial development, creating a resilient and inclusive economic ecosystem for the region.
Special Session Introduction China's Rise in Asia:China-Host Country Interactions and Transformations Alvin Camba (bio), Guanie Lim (bio), and Victoria Chonn Ching (bio) Chinese capital exports are at the front and center of China's globalization (Hung 2015), actualizing US$3.8 trillion of foreign direct investment (FDI) stock in 2018 (UNCTAD 2019) and around US$843 billion in Chinese concessionary and non-concessionary financing between 2000 and 2019 (Bluhm et al. 2018). Against this backdrop, China has emerged as an alternative capital exporter as Western firms and international institutions have increasingly shifted their development finance from hard to soft infrastructure, in addition to concentrating their FDI in key sectors not easily participated by countries in the Global South (Camba 2022). For those in the Global South, China has also become a provider of military aid, an ally in the international arena, and a model to emulate. These changes are expected to exert enormous consequences on executive power competition among political elites, socio-ethnic fissures within countries, and geopolitical strategies of individual countries and/or regions. These domestic transformations better inform the ongoing debates on China's rise both within and across the Global South. The current literature on China's globalization can be divided into three different dimensions. First, there is a question of how China's interests, state-business relations, and state-society structures figure into China's mode of exporting capital. This literature has debated the question of China's global economic position, the issue of centralization or decentralization, and the recent emergence of party-state capitalism (Pearson et al. 2021, 2022). A parallel group of scholarship analyzes how China's Communist Party (CCP) and its institutions prefigure into the country's capital export strategy and China's geopolitical ambitions and gains (Benabdallah 2020; Doshi 2021; Repnikova 2022). Second, another group of works has examined China's impact on host regions and countries. From an economic lens, this scholarship examines how Chinese development finance or direct investments have catalyzed gross [End Page 543] domestic production, industrial policy, supply chain linkages, or capital restructuring (Camba et al. 2022; Lin 2012; Wise and Chonn Ching 2018). Politically, some debate how much China has inspired or exported models of autocracy (see, for example, Bader 2015; Camba 2022). These works also discuss China's role as a global environmental actor (Gallagher and Qi 2021; Kong and Gallagher 2019; Saha 2020). Finally, more recent literature has examined how the host country has responded to China's overtures. This body of work varies from analyzing national government institutions, elite politics, bureaucracies, and civil society. Some have examined host country positioning amidst geopolitical tensions, while others analyze hedging strategies (Liao and Katada 2021; Stallings 2020). Others have looked at how elites have taken advantage of China to increase their political power (Liu and Lim 2019). Despite all these advancements, what is relatively less scrutinized is the kind of host country politics that has emerged in response to—or alongside—Chinese capital exports and the degree to which these changing dynamics address underlying socio-economic or historical cleavages (Camba 2021a; Liu and Lim 2023). Our special session further interrogates how China's rise has spurred innovative bureaucratic strategies, social cleavages, and ethnic tensions in South, Southeast, and Central Asia. These sub-regions are rich for empirical investigation and theory building because democratization and development processes have differed not only from the Global North or Western countries but also among themselves. Adopting a macroscale perspective, Southeast Asian countries have generally pursued labor-intensive industrialization and illustrated distinct development patterns (Higgott and Robinson 2013), South Asian countries are fraught with nationalist movements and inter-state rivalries (Bhattacharyya 2020), and Central Asian countries are transitioning from their communist past into newly emerging democracies (Cummings 2012). However, these regions have—in varying ways—managed disillusionment with the West, increasing income inequalities, and intensified geopolitical tensions. Special Session Overview The first article focuses on Singapore. Xianbai Ji (2023) discusses how this quintessential city-state sought to engage the Belt and Road Initiative (BRI), China's signature global infrastructure strategy, since 2013. Compared to other economies, the Singaporean approach to the BRI shifted away from engaging with China...
Bernard Aritua, Hei Chiu, Cheng Lü, Sheila Farrell · 5 authors
Draws important lessons from the development of China’s ports, each accompanied by reflections on its relevance for developing countries. A holistic approach to macroeconomic and regional development cautions that port development should not stop at the port gate but rather seek to align logistics, trade, and transport policies with broader economic development strategies while considering how to balance decentralization, central coordination, and local initiative. Port-hinterland connectivity to port cities necessitates an understanding that long-term competitiveness depends on strong networks and corridors linking ports with hinterlands which requires deploying land-use strategies to maximize the economic benefits of ports. Human resources and innovation entails investing in human capital and innovation as drivers of productivity and efficiency. And finally, port governance and finance entail defining the role of government in combining financial, economic, social, and environmental objectives and broadening access to the finance and public support needed to develop a competitive port ecosystem, all while testing the waters before scaling up.
The close but unclear relationship between the government and business undermines the honesty and fair competition in the government-business ecology. This research makes a field survey on the business environment of the representative private enterprises in Beijing, Tianjin and Hebei by in-depth interview. The survey reveals some problems, for example the efficiency of government service has not been greatly improved after the "Decentralization-Control-Service" reform, the three-door phenomenon of private enterprises still exists, the financing difficulties are serious, the structure of talent policy is unreasonable, and some policies have not been well promoted and so on. These problems suppress the vitality of the private economy. It is suggested to carry out inventory assessment including positive list and negative list, to construct the probusiness, pro-people public organization culture, to strengthen the performance appraisal of civil servants, to improve the sharing of credit system and property rights pledge system, to play the financing guarantee of chambers of Commerce and associations, to establish the service policy for small and micro enterprises, and to implement special support policies for hightech talent in private enterprises.
Ghana’s industrial sector has evolved with the various stages of political and economic reforms since independence in 1957. Efforts to decentralize its key institutions to enhance economic growth has seen very little success especially in the area of linking industries to local institutions. Recently, the economy has been dampened by worsening macroeconomic environment, huge regional disparities and power crises. A number of policy and programme initiatives by the government have been undertaken especially in the area of revamping the local economies through the existing decentralized systems. This paper presents a critical review of the role of decentralized institutions in industrialisation in Ghana. The paper utilises annual data from the Ministry of Finance and Ghana Statistical Service from 1981 to date to show trends in growth patterns in the selected indicators.Despite key interventions, some regions in Ghana have failed to develop. The envisioned industrial geographical dispersion has not been realised as we find many Ghanaian industries concentrated in a few regions. The paper highlights the challenges facing Ghana’s decentralized institutions and identifies the opportunities that can catalyse the growth of Ghana’s industrial sector if key policy strategic reforms are undertaken. An industrial-led growth will ensure that the manufacturing sub-sector will be boosted to improve production and provide jobs. Industrialisation has been projected at the forefront of government’s development agenda. The paper provides a review that highlights the need to support decentralised institutions to enable them stimulate investment in industrial sector.
By comparing the development of some typical nation's intergovernmental financial relationship,the decentralized states are on the way to centralization,while the centralized states are going to the opposite.The factors include the political system,the process of industrialization and the growth of market.China's intergovernmental financial relationship should be based on our political system,modest centralization and modest decentralization and asymmetric allocation of powers and responsibilities,to ensure the dominance status of the central finance and full exercise of the local governments.
Reviewed by: Assessing the Extent of China's Marketization, and: The Revival of Private Enterprise in China, and: Entrepreneurship in China Kun-Chin Lin (bio) Xiaoxi Li , editor. Assessing the Extent of China's Marketization. The Chinese Trade and Industry Series. Aldershot, UK: Ashgate, 2006. xix, 330 pp. Hardcover $114.95, ISBN 978-0-7546-4878-9. Shuanglin Lin and Shunfeng Song, editors. The Revival of Private Enterprise in China. China Trade and Industry Series. Aldershot, UK: Ashgate, 2007. Hardcover $114.95, ISBN 978-0-7546-4892-5. Keming Yang . Entrepreneurship in China. Aldershot, UK: Ashgate, 2007. Hardcover $114.95, ISBN 978-0-7546-4668-6. These three volumes signal the sustained commitment of Ashgate Publishing to contemporary Chinese political economy—the first two titles belong to a handful of edited volumes published in the past three years under the Chinese Trade and Industry Series; the latter is a monograph not classified under any Ashgate series.1 Series editors for the said series—Aimin Chen (Sichuan University) and Shunfeng Song (University of Nevada, Reno)—are well-respected economists with decades of experience in research and teaching in the United States and in China. Most volumes appear to be collections of conference papers by scholars from both sides of the Pacific, presented at symposiums supported by international funding agencies, corporate donations, and Chinese academic institutions. Previous volumes in the series have received scant attention in major journals of economics and China studies.2 I suspect this neglect reflects the relative abundance of edited volumes on various aspects of the Chinese economy as well as inconsistencies within the series. Reviewers of earlier volumes have voiced concerns with the following problems: numerous editorial errors; outdated data, in particular pertaining to "post-WTO" discussions; context-insensitive applications of econometrics models; and inconsistent efforts at theory building and comparative analysis across sectors and countries.3 To varying degrees, these problems resurfaced in the two edited volumes under consideration here. All three books address head-on the two most fundamental structural changes in the Chinese economy since the mid 1990s—the historic shift from a socialist economy of chronic shortage to one of overall oversupply, and the diminishing importance of the state and collective forms of ownership in face of various property right reforms and the surging private sector. These trends have fairly overtaken and made unfashionable earlier scholarly attention on the reform of state-owned enterprises and debates over soft-budget constraints. However, a close reading of these volumes strongly suggests that the evolving [End Page 330] complexities in state-nonstate relationships remain the central institutional variables for economic growth and system transformation. The earlier debate over whether ownership form and corporate governance or market competition and the overall external environment (including financing options and regulatory risks) matter more for improving the performance and governance of state-owned enterprise finds new relevance in application to the analysis of private enterprises. In addition, central and local governmental relations over the process of decentralization enter into discussion but do not receive systematic attention and theorization in these volumes. It is almost as if, after lavishing praises for the entrepreneurial local state in the 1990s, scholars have decided that the private firms and entrepreneurs are the central, autonomous agents for China's present dynamism. There is certainly a need to rethink the research agenda in light of structural changes in favor of the private sector, but one should keep in mind necessary continuities and comparisons with the earlier scholarship. Assessing the Extent of China's Marketization, edited by Xiaoxi Li of Beijing Normal University and with twenty-eight of twenty-nine chapter contributors sourced from that university, is best read as issue-specific summaries of regulatory and institutional changes since 2000. Whether these changes actually translate into the development of robust political and institutional foundations for the market economy is largely implied through correlations to aggregate economic outcomes rather than through rigorous analyses. Anthropologists, sociologists, and political scientists would look in vain for relevant qualitative research such as in-depth case studies, contextualized narratives, or historical-institutional analysis of long-term trends. The underlying perspective of this volume assumes a congruence of state-building and market-building projects...
Unbalanced distribution of regional openness is a factor causing regional divergence. This paper analyzes the mechanism on foreign trade from financial aspecl and discusses financial development framework under fiscal decentralization. It is found that:(1) financial improvement is beneficial to regional openness; (2) regional government intervention on financial system does harm to foreign trade; and (3) informal finance in some regions is beneficial to export development.
This note presents the methodology and \n findings of a field study on the financing needs of \n Madagascar's communes-the country's lowest but \n most institutionally advanced level of subnational \n government. Following a first round of municipal elections \n in 1995, more than 1,500 communes are now formally \n responsible for maintaining basic administrative services \n and social and economic infrastructure, including local \n waste disposal and sanitation. In addition, communes are \n responsible for identifying and coordinating local \n investments and for supporting implementation of the \n national Poverty Reduction Strategy at the local level. To \n finance these activities, communes receive population-based \n transfers and small conditional transfers, and can collect \n revenue from property, market, and consumption taxes as well \n as user charges. Yet little is known about how much these \n fiscal assignments satisfy local needs. As part of its \n policy dialogue with the government of Madagascar, the World \n Bank is engaged in extensive research that includes \n geographic mapping of social spending and a review of \n opportunities and obstacles to fiscal and sectoral \n decentralization. This research generated the following \n analysis of local and cross-sectoral service needs and \n available financing.
This paper explains the evolution of the metropolitan organizations that have been established to oversee the development of Metro Manila, provides a survey of their responsibilities, authorities, organizational structure, financing, institutional relationships as well as briefly assess their strengths and weaknesses. It then discusses the major management challenges in Metro Manila at present and how they are being addressed under the current set-up. Under the present decentralized framework, governance of Metro Manila becomes more challenging as cities and municipalities that compose it have political legitimacy and significant powers and authorities relative to the Metropolitan organization. However, the paper has emphasized that with proper allocation of powers, authorities and financing, the metropolitan body can take on a more important role in terms of actual delivery of metro-wide services. While the present metropolitan body appears to have taken on more responsibilities in the delivery of services transcending local boundaries, still a large part of these metro-wide services still remain with the national government agencies. This is primarily explained by the fact that while the national government has continuously provided subsidies to the metropolitan body, it still allocates a sizeable portion of the budget for metro-wide services to the national government agencies. These agencies, being line departments, are inherently concerned with their own sectoral priorites rather than serving the needs of the metropolis per se. Consequently, the metropolitan body is left with very difficult task of having to orchestrate the sectoral programs of various national government agencies, including metro-wide services. This situation not only makes government effort almost intractable but also increases costs in terms of both manpower and financial costs. The advantage of metropolitan governance under a decentralized framework is that it allows the local government units within the metropolis to respond directly to the priority needs of their respective constituents by seeking creative means to deliver urban services. This is attested to by the innovative programs and projects some cities in Metro Manila have implemented which have been included in this paper under the discussion of models of good city governance.
No AccessPolicy Research Working Papers21 Jun 2013Privatization and Regulation of the Seaport IndustryAuthors/Editors: Lourdes Trujillo, Gustavo NombelaLourdes Trujillo, Gustavo Nombelahttps://doi.org/10.1596/1813-9450-2181SectionsAboutPDF (0.3 MB) ToolsAdd to favoritesDownload CitationsTrack Citations ShareFacebookTwitterLinked In Abstract:September 1999 Containerized shipping has brought profound changes to maritime transport, including a shift from labor-intensive to more capital-intensive activities. Revising the traditional organization of seaports everywhere will prepare ports for a more competitive market and less financial dependence on governments. With containerized shipping, maritime transport has changed profoundly. Among other things, it has shifted from labor-intensive to more capital-intensive activities, including larger specialized ships that require substantial investments in port infrastructure and equipment. Integrated transport chains have reduced transport costs so much that a shipper may find a distant port cheaper than a closer one. Modern ports must be competitive on times and prices for their services. Seaports must be integrated within logistical chains to serve their many functions. An efficient seaport requires infrastructure, superstructure, equipment, adequate connections to other modes of transport, a well-motivated management, and qualified employees. The public sector has been an important port organizer in the past, but private participation in port operations and infrastructure could make ports significantly more competitive. Trujillo and Nombela provide an overview of changes in maritime activity, discuss concession contracts (a key instrument of privatization), and analyze how regulatory mechanisms affect such factors as seaport tariffs, port congestion, port safety, the quality of cargo handling, and relevant indicators of performance, finances, and factor productivity. They describe how an optimal seaport system should allocate tasks between the various institutions involved, including the port authority. The degree of a seaport's decentralization, they conclude, depends on a country's size, the number of ports it has, and its legal tradition. Among several national governments in Latin America - Argentina, Brazil, Colombia, Mexico, and Venezuela - there is an evident trend toward decentralization and greater autonomy for port authorities. This paper - a product of Governance, Regulation, and Finance, World Bank Institute - is part of a larger effort in the institute to increase understanding of infrastructure regulation. Gustavo Nombela may be contacted at [email protected] Previous bookNext book FiguresReferencesRecommendedDetailsCited ByPort Efficiency and the Financial Performance of Greek Public Ports Before and During the Economic CrisisMaritime Policy & Management, Vol.48, No.523 February 2021Port Performance Indicators: An Exploratory Study in the Moroccan ContextStakeholder collaboration as a pathway to climate adaptation at coastal portsMaritime Policy & Management, Vol.47, No.72 March 2020Ports's Performance: The Case of East African Ports15 July 2020Port labour, competitiveness and drivers of change in the Mediterranean Sea: a conceptual frameworkProduction Planning & Control, Vol.30, No.1311 June 2019Port competition in Latin America and the Caribbean: the role of concessions and competition policyMaritime Policy & Management, Vol.45, No.527 December 2017Tariff protection and port privatization: An import-competing approachMaritime Economics & Logistics, Vol.20, No.215 July 2016Incorporating AHP and Evidential Reasoning for Quantitative Evaluation of Inland Port Performance25 October 2017An empirical test of the balanced theory of port competitivenessThe International Journal of Logistics Management, Vol.28, No.2The drivers of port competitiveness: a critical reviewTransport Reviews, Vol.37, No.120 September 2016Maritime Policy & Management, Vol.44, No.6Port reform in Nigeria: efficiency gains and challengesGeoJournal, Vol.81, No.517 June 2015Quasi-landlord port financing in China: Features, practice and a contract theory analysisTransportation Research Part A: Policy and Practice, Vol.89The Balanced Theory of Port CompetitivenessTransportation Journal, Vol.55, No.2Enabling Better Port Governance in Developing Countries: The Role of Information TechnologyPort privatization in an international oligopolyTransportation Research Part B: Methodological, Vol.67Supply chain interfaces between a port utilizing organisation and port operatorSupply Chain Management: An International Journal, Vol.19, No.1Port of Havana: The Gateway of Cuba, 1850–1920A study on the efficiency of financial support for Marine economy based on DEA modelDeterminants of Port Infrastructure PricingThe Asian Journal of Shipping and Logistics, Vol.29, No.2A Study of Import/Export Trade Originating from Nanjangud and Kannur to New Mangalore Port TrustSSRN Electronic JournalPort Privatization in an International OligopolySSRN Electronic JournalRegulation and price setting of pilotage services in BrazilMaritime Economics & Logistics, Vol.12, No.419 November 2010Private–Public Partnerships as Strategic AlliancesTransportation Research Record: Journal of the Transportation Research Board, Vol.2062, No.122 May 2018Defending Dock Workers?Globalization and Labor Relations in the World's PortsIndustrial Relations, Vol.46, No.3Determinants of Competitiveness in Logistics: Implications for the ASEAN RegionMaritime Economics & Logistics, Vol.9, No.130 April 2007The Missing Point in CAFTASSRN Electronic JournalPort privatization, efficiency and competitiveness: Some empirical evidence from container ports (terminals)Transportation Research Part A: Policy and Practice, Vol.39, No.5Privatisation in Developing Countries: A Review of the Evidence and the Policy LessonsJournal of Development Studies, Vol.41, No.4Determinants of Maritime Transport CostsSSRN Electronic JournalInstitutional reform in ports of developing countries: the case of Lebanon−part I: the planMaritime Policy & Management, Vol.28, No.43 December 2010 View Published: November 1999 Copyright & Permissions Related RegionsLatin America & CaribbeanRelated CountriesHondurasCzech RepublicPuerto RicoPeruArgentinaRelated TopicsTransportInfrastructure Economics and Finance KeywordsAIRAIR TRANSPORTALTERNATIVE TRANSPORTALTERNATIVE TRANSPORT MODESCOSTSECONOMIES OF SCALEINFRASTRUCTUREMARITIME TRANSPORTMODES OF TRANSPORTPASSENGERSPORT AUTHORITIESPORT INFRASTRUCTUREPORT SERVICESRAILWAYSROADROUTESSAFETYTRAFFICTRANS TRANSPORT SYSTEM PDF DownloadLoading ...
ASIANPERSPECTIVE, Vol. 16, No. 2, Fall-Winter 1992, pp. 109-140 THE NEW WORLD ORDER AND KOREAN MUNICIPAL FINANCE Robert C. Rickards and Yi Seung-Cheoul How stable are Korean municipal revenue and expenditure patterns? What accounts for observed differences across cities in the level of stability in those patterns? Over time, has the pro cess of democratization begun to have an impact on the stability of municipal budgetary priorities? How does the stability of Korean cities' fiscal priorities compare with that of municipali ties in other systems? The answers to these key questions have important implications for policymakers locally, nationally, and internationally. At present, a New World Order is replacing the Yalta sys tem of international arrangements. As explained below, the three processes shaping this Order are changing the socioeco nomic and political environment of most national and local gov ernments. In its efforts to maintain rapid economic growth, the Republic of Korea finds itself increasingly exposed to such change (Clifford, 1988: 80-81). Shifting budgetary priorities constitute one indicator of a government's response to environ mental change. That makes investigation of the level of stability in Korean cities' taxing and spending patterns especially interesting. The study undertaken here begins by describing the three processes behind the emerging New World Order. Next, it con siders factors affecting municipal governments' ability to 109 110 Robert C. Rickards and Yi Seung-Cheoul respond to changes caused by those processes. After discussing how municipalities formulate their budgets, the study then looks for evidence of systematic shifts in Korean cities' fiscal priorities. In analyzing the evidence discovered, it compares Korean budgetary behavior with that observed in Germany, Japan, and Switzerland. Finally, the study concludes with sever al policy recommendations likely to improve cities' responsive ness to environmental change. The recommendations apply not only to Korean cities specifically, but also to municipalities throughout the developing world in general. The New World Order Beginning with the breaching of the Berlin Wall in 1989, the system of international arrangements in place since World War II has been collapsing. Subsequent years have seen the dissolu tion of the Warsaw Pact, the Soviet Union, and Yugoslavia. They also have witnessed: the successful campaign against Iraq undertaken by the United States, together with its European and Arab allies; a tentative settlement in the Cambodian civil war; the initiation of Middle East peace talks, and the first meet ings that eventually may lead to reunification of the Korean nation. In the resultant, radically transformed international environment, three powerful processes are shaping a New World Order. These processes are globalization, localization, and democratization (Suzuki, 1991:1-2; Wun'Gaeo, 1991: 3-5). In the 1950's and 1960's, many newly independent coun tries accepted foreign capital to finance ambitious industrializa tion programs. Often, social dislocation, poverty, pollution, and other unanticipated consequences resulted. Nevertheless, at least along Asia's Pacific Rim, some industrialization programs were quite successful. Accordingly, mutual economic interde pendence deepened, both among countries in that region and with the North American and European regions. This deep, mutual interdependence is a product of the glob alization process. Globalization thus involves the free flow of goods, capital, people, and information. In practical terms, it means opening domestic economies ever wider to the interna tional free-trade system. The New World Order and Korean Municipal Finance 111 Having moved to globalization, the Asian Pacific Rim region came under the influence of another process of environ mental change: localization. In earlier periods of development, almost all the region's nations relied on state control of capital formation and prices, domestic economic management by vari ous government agencies, and the concentration of wealth and decisionmaking in a few urban areas. State control of concen trated capital and production, though, led to corruption and maldevelopment. Today, many countries no longer regard state-led develop ment as a desirable model for economic progress. Instead, they prefer a more decentralized approach based on competition among private businessmen. Hence, governments are starting to sell off state-owned corporations, thereby separating them selves from capital. In addition, they are allowing more room for the interplay of market forces in managing the economy. As entrepreneurs search out economic...