The Washington consensus: a Latin American perspective fifteen years later
The paper analyzes the economic and social development of Latin America after nearly two decades of macroeconomic policies and reforms in line with the "Washington Consensus." It shows that these policies lowered inflation and induced an export boom but failed to boost domestic investment and to remove the balance-of-payments binding constraint on the region's long-term path of economic expansion. Four alternative explanations of such poor performance of the Washington Consensus are compared. In particular, the paper argues that, contrary to mainstream opinion, in Latin America, there is no clear association between the depth of macroeconomic reforms and economic growth performance.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 27 (2004)
Issue (Month): 2 (December)
|Contact details of provider:|| Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=109348|
When requesting a correction, please mention this item's handle: RePEc:mes:postke:v:27:y:2004:i:2:p:345-365. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Nguyen)
If references are entirely missing, you can add them using this form.