What is liberalization policy

liberalization, the loosening of government controls. Although sometimes associated with the relaxation of laws relating to social matters such as abortion and divorce, liberalization is most often used as an economic term. In particular, it refers to reductions in restrictions on international trade and capital.

What is the liberalisation policy?

Liberalisation in economics means minimising the government's restrictions and regulations in an economy, in return for higher involvement of private organisations. In short, liberalisation means the removal of restrictions in order to promote economic development.

What is liberalization in simple words?

Liberalization or liberalisation (British English) is a broad term that refers to the practice of making laws, systems, or opinions less severe, usually in the sense of eliminating certain government regulations or restrictions.

What is economic liberalization policy?

Economic liberalization encompasses the processes, including government policies, that promote free trade, deregulation, elimination of subsidies, price controls and rationing systems, and, often, the downsizing or privatization of public services (Woodward, 1992).

What is liberalization with example?

Liberalisation is the process of relaxation of trade rules and regulations of a country by the government which paves the way for economic growth and development. Example: Economic liberalisation in India during 1991. Also see: MCQs on Liberalisation.