Liberalization (noun)

1. The act of making something more liberal, open, or less strict.
2. The process of removing or reducing governmental regulations or controls in a particular industry or economy.
3. The removal of restrictions or barriers to trade, investment, or economic activity.

Origin:

Derived from latin 'liber' meaning 'free' and the suffix '-ization', meaning 'to make'. first recorded in english in the mid 20th century.

Examples:

1. The government's liberalization policies helped to stimulate economic growth.
2. The liberalization of the telecommunications industry led to increased competition and lower prices.
3. The recent liberalization measures have made it easier for foreign companies to invest in the country.
4. The liberalization of the banking sector helped to increase access to credit and financial services.
5. The trade liberalization agreement was a major step towards globalization.