market reform
Free trade policies
Market reform refers to changes in economic policy that shift a country's system toward greater reliance on free-market mechanisms rather than government control.
Such reforms typically include reducing regulations, privatizing state-owned enterprises, opening markets to foreign trade and investment, and allowing prices to be set by supply and demand.
The country embarked on market reform after decades of central planning.
The term often appears in discussions of developing economies or formerly communist states transitioning to capitalism.
- liberalizationReducing state economic controls
- antitrust lawsRegulations preventing corporate monopolies
- shock therapyElectric psychiatric treatment
- privatizationState sells public assets
- labor lawsStatutes governing workplace conditions
deregulation · red tape · free trade · financial regulation · consumer protection · trade policy · austerity measures · trickle down · tax codes · fiscal policy · level playing field · monetary policy · social safety nets · environmental standards · Washington Consensus · invisible hand · supply and demand · poverty alleviation
- reformstructural change, overhaul, revision, systemic change, policy change
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
- Emerging MarketsBrazil, China, India, Indonesia, Mexico
- financial reformbanking oversight, bank regulation, Dodd-Frank, Glass-Steagall, Sarbanes-Oxley
- free marketsfree enterprise, free trade, laissez-faire, capitalism, privatization
- reformsderegulation, privatising, labor laws, liberalization
market reformcentral planning
Government directs all production
command economy · state control · nationalization · collectivization · socialism
market reformprotectionism
Shielding local producers
government intervention · trade barriers · price controls · state subsidies · import substitution
market, reform, markets, marketed, marketing, marketer, marketable, marketplace, reforms