Economies have markedly different firm size distributions. At the same time, firms of different size grow differently after identical financial- and product-market liberalization reforms. Thus, identical reforms can produce different growth outcomes across countries. This result is reached after...

This book offers an extensive review of market-oriented economic reforms since 1970, and considers the question of whether more liberal economic policy yields greater social welfare. The author demonstrates that, despite the widespread uniformity of economic policy across countries over the past...