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Rethinking the state-market relations in the New Age of development

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  • Dobrescu Paul

    (National University for Political Studies and Public Administration, Bucharest, Romania)

  • Durach Flavia

    (National University for Political Studies and Public Administration, Bucharest, Romania)

Abstract

This paper discusses, from a conceptual and theoretical perspective, the recent debates on the relation between the state and the market as drivers of national development. Since the end of the Cold War, three periods are distinguishable according to the way in which development is discussed, envisaged, and designed through state policies. The first one starts from the end of the Cold War and leads to the 2008-2009 crisis, the second includes the ten years of recovery, while the last is unfolding at the moment. The argument takes globalization into account as the background for development, during the three decades observed. The paper analyses the way in which the state-market relationship was envisaged during each period, both in the developed and emerging economies. The paper identifies the factors that ensure steady development, with an emphasis on current challenges. Lastly, the paper presents the particular experience of Central and Eastern Europe during its transition from the communist regime to democracy. The conclusion is that the better understanding of the relationship between globalization and development, the faster their evolution for a given country.

Suggested Citation

  • Dobrescu Paul & Durach Flavia, 2018. "Rethinking the state-market relations in the New Age of development," Management & Marketing, Sciendo, vol. 13(4), pages 1276-1288, December.
    • Handle: RePEc:vrs:manmar:v:13:y:2018:i:4:p:1276-1288:n:8
    DOI: 10.2478/mmcks-2018-0036
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    References listed on IDEAS

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    3. World Bank, 2005. "Economic Growth in the 1990s : Learning from a Decade of Reform," World Bank Publications - Books, The World Bank Group, number 7370.
    4. Rodrik, Dani, 2012. "The Globalization Paradox: Why Global Markets, States, and Democracy Can't Coexist," OUP Catalogue, Oxford University Press, number 9780199652525.
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