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What happened to the Washington Consensus? The evolution of international development policy

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  • Marangos, John

Abstract

The term "Washington Consensus", as Williamson the father of the term conceived it, in 1989, was a set of reforms for economic development that he judged "Washington" could agree were required in Latin America. However, the Washington Consensus has been identified as a neoliberal manifesto and calls were made for the implementation of a different set of policies, which took the form of the "Augmented Washington Consensus". Lately, Williamson offered a new set of policies the "After the Washington Consensus". The aim of this paper is to investigate the different interpretations and alternatives of this controversial set of policies, and to reveal the historical evolution of the implemented policies for international development.

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  • Marangos, John, 2009. "What happened to the Washington Consensus? The evolution of international development policy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(1), pages 197-208, January.
    • Handle: RePEc:eee:soceco:v:38:y:2009:i:1:p:197-208
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    2. Bukvić, Rajko, 2012. "Вашингтонски Консензус И Деиндустријализација Источне И Југоисточне Европе [Washington’s Consensus and Disindustrialization of the Eastern and South-Eastern Europe]," MPRA Paper 86200, University Library of Munich, Germany, revised 2012.
    3. Bukvic, Rajko, 2010. "Foundations, Results and Perspectives of Transition: A Case of Serbia," Ekonomika, Journal for Economic Theory and Practice and Social Issues, Society of Economists Ekonomika, Nis, Serbia, vol. 56(4), December.
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    5. Dirk H M Akkermans, 2017. "Net profit flow per country from 1980 to 2009: The long-term effects of foreign direct investment," PLOS ONE, Public Library of Science, vol. 12(6), pages 1-28, June.
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    7. John Marangos, 2023. "The Post-Keynesian Perspective and Policy Recommendations for the Greek Financial Crisis," Review of Radical Political Economics, Union for Radical Political Economics, vol. 55(3), pages 423-447, September.
    8. John Marangos & Charles J. Whalen, 2011. "Evolution without fundamental change: the Washington Consensus on economic development," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 8, pages 153-178, Edward Elgar Publishing.
    9. Bukvić, Rajko & Aleksić, Dragan & Aničić, Jugoslav & Laketa, Marko & Todorić, Jovana & Zakić, Nebojša & Vuković, Darko & Miletić, Dalibor & Vukotić, Svetlana & Vukmirović, Dragan & Vukmirović, Jovanka, 2017. "Национална Економија [National Economy]," MPRA Paper 103354, University Library of Munich, Germany, revised 2017.
    10. Bukvić, Rajko, 2013. "Transition in Serbia: Foundations, results and perspectives," MPRA Paper 70166, University Library of Munich, Germany, revised 08 Nov 2013.
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    12. Meg Elkins & Simon Feeny & David Prentice, 2015. "Do Poverty Reduction Strategy Papers reduce poverty and improve well-being?," Discussion Papers 15/02, University of Nottingham, School of Economics.

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