2 years
In any analytical paper that deals with the academic and application components, definition of the concepts have always been challenging because of at least two reasons. On the one hand, it has to be easy for reference by policy makers when they want to draw from such references for policymaking and conversely academicians should be able to draw from the existing policies to formulate or refine the concepts. Moreover, the same concept could be applied to have different meanings in different countries as such concepts seldom have universally accepted definitions for the simple reason that they develop based on the unique socio-economic conditions of each country. This is especially true of the developed economies, say, as the US and the UK, where there is a tendency to draw parallels which may lead to erroneous conclusions.
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