Recent literature on private‐sector development emphasises the need to establish a ‘level playing field’ and tends to disregard selective supportive interventions. The most commonly highlighted elements are administrative simplification and effective property rights policies, with business services largely left to private providers ‐ what we call the ‘new minimalist approach’ (NMA). However, the NMA is based on certain unrealistic assumptions and is barely backed by empirical evidence. A range of complementary public policies is needed to create competitive sectors and overcome internal constraints, especially in small‐scale economies.
Abstract:The India-Brazil-South Africa (IBSA) Dialogue Forum, was established in 2003, as a political alliance of three likeminded, democratic, developing countries in order to counterbalance the traditional North-South power asymmetry. The vision of the political leaders, however, goes beyond a lose political union, and aspires South-South cooperation in trade, science and technology. The paper explores what the available evidence suggests regarding the possible depth and outreach of the project.
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