ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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State, Market and the Economy

While recognising that state and market have separate but interconnected roles to play, the emerging view is that the market must be allowed to work wherever it can function efficiently and the state must step in wherever the market does not succeed. In this paper an attempt is made to provide the broad contours of this debate, derive lessons from international experience and provide a framework for determining the appropriate mix.

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