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Neo-liberalism and East Asia: Resisting the Washington Consensus

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  • Mark Beeson
  • Iyanatul Islam

Abstract

This article examines current debates over the future direction of the reform agenda in post-crisis East Asia and sets them in the broader context of the global debate on the role of ideas and ideology in shaping economic policy-making. It argues that the contest of ideas in economic policy-making can evolve independently of their intellectual merit and empirical credibility and political interests play an important role. In the case of post-crisis East Asia, re-igniting the 'economic miracle' of the pre-crisis era does not stem from a politically neutral, dispassionate and intellectually rigorous analysis of what went wrong in the recession-inducing 1997 financial crisis that engulfed the region. It represents an attempt to reinvent orthodoxy in the domain of economic ideas and ideology by the global policy community that is in turn influenced by US-centric institutions.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Journal of Development Studies.

Volume (Year): 41 (2005)
Issue (Month): 2 ()
Pages: 197-219

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Handle: RePEc:taf:jdevst:v:41:y:2005:i:2:p:197-219

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  1. Dani Rodrik, 2002. "Feasible Globalizations," NBER Working Papers 9129, National Bureau of Economic Research, Inc.
  2. Steve Dowrick & Muhammad Akmal, 2005. "Contradictory Trends In Global Income Inequality: A Tale Of Two Biases ," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(2), pages 201-229, 06.
  3. Glyn, A. & Hughes, A. & Lipietz, A. & Singh, A., 1988. "The Rise And Fall Of The Golden Age," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge 884, Faculty of Economics, University of Cambridge.
  4. Ha-Joon Chang, 2002. "Kicking Away the Ladder: An Unofficial History of Capitalism, Especially in Britain and the United States," Challenge, M.E. Sharpe, Inc., vol. 45(5), pages 63-97, September.
  5. Paul Cashin & Catherine A. Pattillo & Ratna Sahay & Paolo Mauro, 2001. "Macroeconomic Policies and Poverty Reduction," IMF Working Papers 01/135, International Monetary Fund.
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Cited by:
  1. Carson, Matthew, 2010. "Guiding structural change : the role of government in development," ILO Working Papers, International Labour Organization 455097, International Labour Organization.

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