This paper explores the trends in globalization especially financial sectors liberalization as promoted by international donor agencies and its impact on developing world with special emphasis on Pakistan. The paper highlights the shortcomings in policy implications of promoting financial liberalization. It discusses the self propagating ideas of international financial institutions having narrowly defined globalization. The view is based on few established economic theories whose assumptions are somewhat unrealistic from the perspective of the developing world lacking flexibility and adaptability. It also emphasizes the consequences of these policy flaws on East Asian economies and Pakistan.
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Copyright (c) 2008 DANISH AHMED SIDDIQUI