Democracy, market economics, and development : As Asian perspective

Democracy, Market Economics and Development : an Asian Perspective examines the extent to which democracy is important to the achievement of sustainable development in Asia. Drawing on recent conference papers by distinguished contributors, including Amartya Sen, Joseph Stiglitz, and Francis Fukuyama, the book argues that : Democracy and markets are complementary: both democratic politics and free markets are needed to improve the lives of citizens in a sustainable manner;Democracy is intrinsic to development: development by definition should include a component of civil and human liberties, and these are best conveyed by the democratic system of governance.;Liberal participatory democracy promotes development by providing legitimacy to reform efforts. Without such legitimacy, reforms are often blocked and sometimes reversed. ;Notwithstanding the debate about "Asian values," the political and economic institutions of Asia and the West are converging.