Acknowledging the important role the government plays in enterprise building, this pocketbook outlines specific areas in which the function of the government seem necessary. It delves into the components of the role of government and also presents international experience on the evolution of the role.
“Many countries over the past two centuries have tried to achieve economic growth using various models which define varying roles for the government to play in an economy. Experiments have ranged from total control of the economy to mixed model whereby government is also one of the key players in the economy along side the private sector. The role of government in an economy is largely determined by popular political ideologies of the time.
Empirical studies concentrated on evidences collected from several growing transition economies also point out the importance of policies of economic liberalization in achieving high economic growth (de Mello et. all, 2001). At the same time, there are studies which also examine the role of size of government upon the economic growth of the country. However, government expenditure in human capital development and infrastructure development often aid economic growth (Gray, Lane and Varoudakis, 2007; Gupta et. all, 2003; Hanushek and Dennis, 2000).” – An excerpt
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