Is “Liberalization” a Scrabble word?

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Yes
LIBERALIZATION
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Valid

Meaning of Liberalization

noun
  1. 1.The process or act of making more liberal.

  2. 2.The lessening of government regulations and restrictions in an economy in exchange for greater participation by private entitiesWp