Monday, October 15, 2007

The new tiger…

High growth rate, booming international trade, tame inflation, high employment rate, manageable The new tiger…budget deficit…Phew! Mystified by all these economic indicators, then look to east Europe, a small country- Lithuania. This quiet and latent economy slowly crawled towards development and astonishingly emerged as brightest of all the Baltic States.

After the market crash of 1998, this Baltic Tiger revamped its economic policy and embarked on a developmental drive. Privatisation on large scale was adopted. This was followed by an effective tax collection procedure clubbed with reduction in administrative spending, which not only benefited them in short run but also in long run.
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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative