Managing Development in a Globalized World

Chapter 7Development Policy Making

A policy is a temporary creed liable to be changed, but while it holds good it has got to be pursued with apostolic zeal.

Mahatma Gandhi

Introduction

In the contemporary era of globalization, state intervention in economic matters is perhaps gradually declining vis-à-vis the growing influence of the market, yet to a significant degree, control of the economy and its management remains both the state’s prerogative and obligation. Despite the increasing sways of the neoliberal approach to development, the pressures ...