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Second Generation Reform

 Reform Generations
    The 1990s reforms focused on decontrol and liberalization of external trade, finance and exchange rates, decontrol of domestic industry and financial markets and tax & tariff reforms.  Towards the end of the 1990s there was a feeling that most of the important reforms in these areas had been completed and there was a need for a new thrust on policy reform of sectors and areas that had not been reformed for various reasons. Some of us thought that a comprehensive paper should be prepared on the next phase of reforms, which one of us termed "Second generation reforms". The outcome was a paper reviewing the first generation reforms, identifying and proposing further reforms to fill the gaps in these sectors/areas and then focusing on untouched areas. These 2nd generation reforms therefore covered neglected sectors like Agriculture and Infrastructure, Factor markets for Land/Real estate, Labor and Natural Resource, and Institutional reforms of Administration, police, judiciary and legal systems.  The paper also identified new areas of policy reform such as Education and skills and Urban and Municipal policy. Among the specific proposals were, a) A Fiscal Responsibility Act, b) Public Debt Management Act, c) Freedom of Information Act, d) A Statistical Authority, e) This was printed as a monograph titled, "From Poverty To Middle Income: Reforms for accelerating Growth in the 21st Century." [ChinPP7Reform99apr13.doc ]
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