Meaning & Definition of word "Liberalization"

Liberalization

/ˌlɪb.ə.rə.ləˈzeɪ.ʃən/

1. The process of making laws, regulations, or policies less strict or more accommodating, often in terms of economic policies.
- Example: The liberalization of trade tariffs has led to increased competition in the market.
2. The act of loosening restrictions, regulations, or controls in various sectors, including economics, politics, and social issues.
- Example: The government announced a liberalization of foreign investment laws to attract international businesses.
3. The opening up of markets and the encouragement of more freedom in economic and social activities.
- Example: Many countries have undergone significant liberalization to stimulate economic growth and development.
4. The process of reducing state control and promoting private ownership and market mechanisms.
- Example: The liberalization of the telecommunications sector has resulted in enhanced services and lower prices for consumers.

Formed from the word 'liberal' combined with the suffix '-ization', indicating a process or result.

economic liberalization:

The process of reducing government restrictions in an economy.

market liberalization:

The removal of barriers to trade and investment in markets.

political liberalization:

The process of democratization and increasing political freedoms.

liberal:

Relating to or advocating for freedom of choice and political and individual rights.

liberate:

To set free, especially from legal, social, or political restrictions.

Meaning: Going easy on regulations.

Example Sentence: The government is all about liberalization these days, letting businesses breathe easier.

Meaning: Opening the floodgates to new ideas and trades.

Example Sentence: After the liberalization move, it felt like a breath of fresh air in the market.