May 2024
Intermediate to advanced
688 pages
51h 31m
English
Content preview from Business Environment, 1st Edition by Pearson
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Chapter 18: Role of the State in Economic Development | 217 |
The promotional role of the state also encompasses the provision
of various fi scal, monetary and other incentives including measures
to cover certain risks for the development of certain priority sectors
and activities.
Entrepreneur
The growing importance of the entrepreneurial or participative role
of the state was evident from the fast expansion of the public sector
enterprises in most countries in the second half of the 20
th
century.
Public ownership in free societies and their growth in recent
times are justifi ed for the following reasons:
(i) War efforts require direct state participation: In a democracy,
the national emergency of war inevitably causes an expansion ...
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