economic reforms
Policy overhaul measures
Economic reforms are deliberate changes to a country's economic policies or systems, typically aimed at improving growth, efficiency, or stability.
The term often implies moving toward market-oriented approaches: The government implemented economic reforms including privatization and deregulation.
Reforms may address taxation, trade barriers, currency controls, or state ownership of industry.
The phrase carries political weight—what counts as "reform" depends on who's proposing it.
- privatizationState sells public assets
- deregulationRemoving governmental business restrictions
- open marketsUnrestricted commercial exchanges
- tariff reductionsDecreased import levies
- fiscal policyState spending and taxation
belt tightening · shock therapy · monetary policy · balanced budget · free trade agreements · Washington Consensus · quantitative easing · trade balance · infrastructure development · markets · supply side · growth · taxation · tax cuts · inflation · trade · fiscal · budget
- economyGDP, money, inflation, inflation rate, GNP
- IndiaDelhi, Ganges, Mumbai, Taj Mahal, Punjab
- economic historystock market crash, Industrial Revolution, trade routes, Great Depression, gold standard
- Soviet EraUSSR, Soviet Union, Soviet rule, CCCP, Eastern Bloc
- European Economiesliberalization, free market, capitalism, restructuring, investment
- Heisei Japanbubble burst, deflation, Fukushima, Shinzo Abe, recession
economic reformsstatus quo
Existing condition of affairs
economic stagnation · no change · business as usual · standing pat · entrenchment
economic reformspolicy reversal
Abandoning a previous position
nationalization · central planning · command economy · state control · protectionism