The Discrete Charm of the Washington Consensus

Levy Economics Institute Working Paper No. 533

24 Pages Posted: 1 May 2008

See all articles by Jan A. Kregel

Jan A. Kregel

Bard College - The Levy Economics Institute

Date Written: April 30, 2008

Abstract

Over the last two centuries in Latin America a Washington Consensus development strategy based on integration in the global trading system has dominated both domestic demand management and industrialization "from within." This paper assesses the performance of each from the point of view of the impact of external conditions, and the validity of its underlying theory. It concludes by noting that replacing the Consensus will require not only reform of the international financial architecture but also a return to the integrated policy framework represented in the Havana Charter.

Keywords: Development Finance, Latin American Development Policy, Ragnar Nurkse

JEL Classification: B31, O11, O14, O16, O23

Suggested Citation

Kregel, Jan A., The Discrete Charm of the Washington Consensus (April 30, 2008). Levy Economics Institute Working Paper No. 533, Available at SSRN: https://ssrn.com/abstract=1127338 or http://dx.doi.org/10.2139/ssrn.1127338

Jan A. Kregel (Contact Author)

Bard College - The Levy Economics Institute ( email )

Blithewood
Annandale-on-Hudson, NY 12504
United States
845-758-7700 (Phone)
845-758-1149 (Fax)

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