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The Washington Consensus Revisited

Grzegorz W. Kolodko

in From Shock to Therapy: The Political Economy of Postsocialist Transformation

Published in print:
2000
Published Online:
October 2011
ISBN:
9780198297437
eISBN:
9780191685354
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198297437.003.0006
Subject:
Economics and Finance, Development, Growth, and Environmental

During the latter part of the 1980s and the start of the 1990s, policymakers formulated the so-called ‘Washington consensus,’ which is derived from ten agreed fields by powerful financial ... More


Failures of the East Asian Development Model: An Overview

Yung Chul Park

in Economic Liberalization and Integration in East Asia: A Post-Crisis Paradigm

Published in print:
2005
Published Online:
February 2006
ISBN:
9780199276776
eISBN:
9780191603051
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199276773.003.0004
Subject:
Economics and Finance, South and East Asia

East Asian countries were showing many structural strains and rigidities prior to the crisis, partly due to cosmetic reform efforts. Four critical failures are identified: benign neglect of the ... More


Introduction: From the Washington Consensus Towards a New Gobal Governance

Narcís Serra, Shari Spiegel, and Joseph E. Stiglitz

in The Washington Consensus Reconsidered: Towards a New Global Governance

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199534081
eISBN:
9780191714658
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199534081.003.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

The point of departure for this book is the Washington Consensus — the set of views about effective development strategies that have come to be associated with the Washington-based institutions: the ... More


Neoliberal Worlds

Jamie Peck

in Constructions of Neoliberal Reason

Published in print:
2010
Published Online:
January 2011
ISBN:
9780199580576
eISBN:
9780191595240
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199580576.003.0001
Subject:
Business and Management, Political Economy

This chapter examines the range of popular and academic meanings of neoliberalism, including its associations with the ‘Washington Consensus’ and with ‘Thatcherism’, as a prelude to proposing a ... More


Stability with Growth: Macroeconomics, Liberalization and Development

Joseph Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar

Published in print:
2006
Published Online:
September 2006
ISBN:
9780199288144
eISBN:
9780191603884
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0199288143.001.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

This book discusses the current debates on macroeconomics, capital market liberalization, and development, and develops a new framework within which one can assess alternative policies. The authors ... More


How can Low-Income Countries Accelerate their Catch-Up with High-Income Countries? The Case for Open-Economy Industrial Policy

Robert H. Wade

in Good Growth and Governance in Africa: Rethinking Development Strategies

Published in print:
2011
Published Online:
May 2012
ISBN:
9780199698561
eISBN:
9780191738142
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199698561.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

A senior British civil servant working on economic issues declared in late 1930 (as the Great Depression ground on), “If I leave the office on Saturday feeling confident that in the past week I have ... More


Market and State

Yujiro Hayami and Yoshihisa Godo

in Development Economics: From the Poverty to the Wealth of Nations

Published in print:
2005
Published Online:
October 2005
ISBN:
9780199272709
eISBN:
9780191602870
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199272700.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

The question of what kind of institutional set-up would be appropriate for promoting economic development is approached in terms of combination between market and state. The traditional debates on ... More


Towards a New Paradigm of Development *

Joseph Stiglitz

in Making Globalization Good: The Moral Challenges of Global Capitalism

Published in print:
2003
Published Online:
November 2003
ISBN:
9780199257010
eISBN:
9780191596223
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199257019.003.0005
Subject:
Economics and Finance, International

Building on his 1998 Prebisch lecture, presented at UNCTAD in Geneva, the author focuses on the form and content of a new (i.e. post Washington Consensus) paradigm of development, the role of ... More


Constructions of Neoliberal Reason

Jamie Peck

Published in print:
2010
Published Online:
January 2011
ISBN:
9780199580576
eISBN:
9780191595240
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199580576.001.0001
Subject:
Business and Management, Political Economy

Amongst intellectuals and activists, neoliberalism has become a potent signifier for the kind of free-market thinking that has dominated politics for the past three decades. Forever associated with ... More


Introduction: Post-Soviet, Post-Social?

Stephen J. Collier

in Post-Soviet Social: Neoliberalism, Social Modernity, Biopolitics

Published in print:
2011
Published Online:
October 2017
ISBN:
9780691148304
eISBN:
9781400840427
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691148304.003.0001
Subject:
Anthropology, Social and Cultural Anthropology

This introductory chapter provides a background of neoliberalism. During the 1990s, the Russian case and the battles over “transition,” the Washington Consensus, shock therapy, and structural ... More


Labour Market Institutions and Income Inequality: What are the New Insights after the Washington Consensus?

Rolph van der Hoeven and Catherine Saget

in Inequality Growth and Poverty in an Era of Liberalization and Globalization

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199271412
eISBN:
9780191601255
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271410.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

Looks at some of the labour market outcomes of recent economic reforms. The extent to which labour market institutions affect the relationship between reform policies and income inequality remains ... More


A Homeownership Consensus?

Nancy H. Kwak

in A World of Homeowners: American Power and the Politics of Housing Aid

Published in print:
2015
Published Online:
May 2016
ISBN:
9780226282350
eISBN:
9780226282497
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226282497.003.0007
Subject:
History, American History: 20th Century

In an era of explosive urban poverty and declining congressional support for American bilateral aid programs in the early 1970s, the World Bank took a more active role, beginning in Senegal and ... More


After the Cold War: The Age of ‘Soft Power’

David Ellwood

in The Shock of America: Europe and the Challenge of the Century

Published in print:
2012
Published Online:
September 2012
ISBN:
9780198228790
eISBN:
9780191741739
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198228790.003.0012
Subject:
History, European Modern History, American History: 20th Century

The chapter provides an overview of European responses to the surging economy, cultural inventiveness, and self-confidence of post Cold War America. It suggests that from this perspective, strong ... More


Introduction and Overview: Economic Transformation and Learning, Industrial, and Technology Policies in Africa

Akbar Noman and Joseph E. Stiglitz

in Industrial Policy and Economic Transformation in Africa

Published in print:
2015
Published Online:
May 2016
ISBN:
9780231175180
eISBN:
9780231540773
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231175180.003.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

Africa's development exeperience and its controversies; the case for industrial policies and an overview of the volume.


Doubts and Conclusions

Grzegorz W. Kolodko

in From Shock to Therapy: The Political Economy of Postsocialist Transformation

Published in print:
2000
Published Online:
October 2011
ISBN:
9780198297437
eISBN:
9780191685354
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198297437.003.0015
Subject:
Economics and Finance, Development, Growth, and Environmental

Subsequent to the conceptualisation of the ‘Washington consensus’, the following general policy conclusions are made. First, organisational structuring and sound income guidelines are essential ... More


Beyond Scandinavia: Washington Consensus to Market Corruption

Avner Offer and Gabriel Söderberg

in The Nobel Factor: The Prize in Economics, Social Democracy, and the Market Turn

Published in print:
2019
Published Online:
May 2020
ISBN:
9780691196312
eISBN:
9781400883417
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691196312.003.0012
Subject:
Economics and Finance, Economic History

This chapter reveals that Scandinavia was but a sideshow in a larger plot in which market-liberal advocates strove to capture the command of policy worldwide with the ‘Washington Consensus’. Their ... More


Growth Diagnostics *

Ricardo Hausmann, Dani Rodrik, and Andrés Velasco

in The Washington Consensus Reconsidered: Towards a New Global Governance

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199534081
eISBN:
9780191714658
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199534081.003.0015
Subject:
Economics and Finance, Development, Growth, and Environmental

Most well-trained economists would agree that the standard policy reforms included in the ‘Washington Consensus’ have the potential to be growth-promoting. What the experience of the last fifteen ... More


Introduction

Annette Miae Kim

in Learning to be Capitalists: Entrepreneurs in Vietnam's Transition Economy

Published in print:
2008
Published Online:
January 2009
ISBN:
9780195369397
eISBN:
9780199871032
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195369397.003.0001
Subject:
Economics and Finance, Financial Economics

The emergence of entrepreneurs and a private real estate market in Vietnam is one of a growing number of cases that challenges the Washington consensus approach to international development. Vietnam ... More


Towards Global Governance

Deepak Nayyar

in Governing Globalization: Issues and Institutions

Published in print:
2002
Published Online:
October 2011
ISBN:
9780199254033
eISBN:
9780191698187
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199254033.003.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

The United Nations and the Bretton Woods institutions were created in an altogether different context. The countries that created tehm wanted to improve the living conditions of their people through ... More


From State to Market: A Fork in the Reform Road

Carol Wise

in Dragonomics: How Latin America Is Maximizing (or Missing Out on) China's International Development Strategy

Published in print:
2020
Published Online:
September 2020
ISBN:
9780300224092
eISBN:
9780300252378
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300224092.003.0004
Subject:
Political Science, International Relations and Politics

This chapter undertakes a cross-regional comparison of the developmental paths of China and the Latin American countries of Argentina, Brazil, Chile, Mexico, and Peru (LAC 5). It traces the economic ... More


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