Globalisation, Nationalism and Economic

Policy Reform Baldev Raj Nayar The recent wave of economic policy reform in the developing world has been seen as a necessary consequence of a changed world economic system. Though the key feature of the changed world economy is the element of the heightened economic globalisation, it has not led to weakening of economic nationalism. This article argues for arriving at a new balance in the interaction between these two social forces influencing economic policy reform wherein the state and market are not seen as adversaries but as partners in economic development.