IDEAS home Printed from https://ideas.repec.org/a/taf/fosoec/v44y2015i2p159-178.html

Whatever Inconsistencies and Effects? Explaining the Resilience of the Policy Reforms Applied to Developing Countries

Author

Listed:
  • Alice N. Sindzingre

Abstract

Why is 'neoliberalism' still a predominant framework within economics and policy-making? This paper considers the mix of theoretical assumptions, causalities and policies known as the 'Washington consensus', focusing on developing countries. First, it analyses their main elements, resilience and effects (the 'lost decades in spite of policy reform'). Second, it examines the reasons of this resilience and argues that a reason is their adaptive capacity via constant exchanges between facts and conceptual assumptions, because this mix is constituted of heterogeneous elements (from neoclassical theory, ad hoc models or empirics-based policy-making): inconsistency is a core feature and as such its correction is irrelevant. These 'adaptive inconsistencies' are consolidated by the simultaneous theoretical/policy dimension of the mix. Its cognitive resilience is reinforced by the irrefutability of causations and the cause/effect time lag ('after current costs, there will be gains', e.g. growth), and is not challenged by the social costs of policies.

Suggested Citation

  • Alice N. Sindzingre, 2015. "Whatever Inconsistencies and Effects? Explaining the Resilience of the Policy Reforms Applied to Developing Countries," Forum for Social Economics, Taylor & Francis Journals, vol. 44(2), pages 159-178, August.
    • Handle: RePEc:taf:fosoec:v:44:y:2015:i:2:p:159-178
    DOI: 10.1080/07360932.2014.951378
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/07360932.2014.951378
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/07360932.2014.951378?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or

    for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Axel Dreher, 2009. "IMF conditionality: theory and evidence," Public Choice, Springer, vol. 141(1), pages 233-267, October.
    2. Todd Moss & Gunilla Pettersson & Nicolas van de Walle, 2006. "An Aid-Institutions Paradox? A Review Essay on Aid Dependency and State Building in Sub-Saharan Africa," Working Papers 74, Center for Global Development.
    3. A. P. Thirlwall, 2003. "Trade, the Balance of Payments and Exchange Rate Policy in Developing Countries," Books, Edward Elgar Publishing, number 2957.
    4. repec:wbk:wbpubs:12105 is not listed on IDEAS
    5. J. Stiglitz, 1998. "More Instruments and Broader Goals: Moving toward the PostWashington Consensus," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 8.
    6. Mario Mansour & Mr. Michael Keen, 2009. "Revenue Mobilization in Sub-Saharan Africa: Challenges from Globalization," IMF Working Papers 2009/157, International Monetary Fund.
    7. Axel Dreher & Jan-Egbert Sturm & James Raymond Vreeland, 2015. "Politics and IMF Conditionality," Journal of Conflict Resolution, Peace Science Society (International), vol. 59(1), pages 120-148, February.
    8. Alice Nicole Sindzingre, 2013. "The Impact of Emerging Countries on Sub-Saharan African Economies: Factors of Long-term Growth?," Post-Print hal-01410680, HAL.
    9. Michael Mussa & Miguel Savastano, 2000. "The IMF Approach to Economic Stabilization," NBER Chapters, in: NBER Macroeconomics Annual 1999, Volume 14, pages 79-128, National Bureau of Economic Research, Inc.
    10. Baunsgaard, Thomas & Keen, Michael, 2010. "Tax revenue and (or?) trade liberalization," Journal of Public Economics, Elsevier, vol. 94(9-10), pages 563-577, October.
    11. Mr. Allan Timmermann, 2006. "An Evaluation of the World Economic Outlook Forecasts," IMF Working Papers 2006/059, International Monetary Fund.
    12. Alice Nicole Sindzingre, 2013. "Drivers of long-term growth? Assessing the impacts of emerging countries on Sub-Saharan African economies," Post-Print halshs-00908015, HAL.
    13. Ajit Singh, 1998. ""Asian Capitalism" and the Financial Crisis," SCEPA working paper series. 1998-15, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    14. J. J. Polak, 1997. "The IMF Monetary Model At Forty," IMF Working Papers 1997/049, International Monetary Fund.
    15. Patrick A. Imam & Eleonara Granziera & Mr. Norbert Funke, 2008. "Terms of Trade Shocks and Economic Recovery," IMF Working Papers 2008/036, International Monetary Fund.
    16. World Bank, 2012. "Global Economic Prospects, January 2012 [Perspectivas económicas mundiales : incertidumbre y vulnerabilidad - Resumen ejecutivo]," World Bank Publications - Books, The World Bank Group, number 12100, April.
    17. Alice Nicole Sindzingre, 2008. "From Growth to Poverty Reduction: a New Conceptual Framework in Development Economics," Post-Print halshs-00648001, HAL.
    18. World Bank, 2013. "World Development Indicators 2013," World Bank Publications - Books, The World Bank Group, number 13191, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alice Nicole Sindzingre, 2015. "‘Policy Externalisation’ Inherent Failure: International Financial Institutions’ Conditionality in Developing Countries," Post-Print hal-01668363, HAL.
    2. Alice Nicole Sindzingre, 2016. "From an Eroding Model to Questioned Trade Relationships: The European Union and Sub-Saharan Africa," Insight on Africa, , vol. 8(2), pages 81-95, July.
    3. Abdul Rahman & Muhammad Arshad Khan, 2024. "Role of consistent regime-specific policies in recovering the negative relationship between financial development and economic growth," Economic Change and Restructuring, Springer, vol. 57(4), pages 1-27, August.
    4. Alice Sindzingre, 2021. "Assessing the Concept of Change in International Financial Institutions' Theories and Policies: The Example of Sub-Saharan African Countries," Post-Print halshs-03625137, HAL.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alice Nicole Sindzingre, 2025. "Change, Language and Power: The Example of International Financial Institutions’ Policies in Sub-Saharan Africa," Post-Print hal-05571524, HAL.
    2. Alice Nicole Sindzingre, 2015. "‘Policy Externalisation’ Inherent Failure: International Financial Institutions’ Conditionality in Developing Countries," Post-Print hal-01668363, HAL.
    3. Alice Sindzingre, 2021. "Assessing the Concept of Change in International Financial Institutions' Theories and Policies: The Example of Sub-Saharan African Countries," Post-Print halshs-03625137, HAL.
    4. Reinsberg, Bernhard & Kern, Andreas & Rau-Göhring, Matthias, 2021. "The political economy of IMF conditionality and central bank independence," European Journal of Political Economy, Elsevier, vol. 68(C).
    5. Carter Patrick, 2013. "Does Foreign Aid Displace Domestic Taxation?," Journal of Globalization and Development, De Gruyter, vol. 4(1), pages 1-47, August.
    6. repec:idq:ictduk:13751 is not listed on IDEAS
    7. Axel Dreher & Sarah Langlotz & Silvia Marchesi, 2017. "Information Transmission And Ownership Consolidation In Aid Programs," Economic Inquiry, Western Economic Association International, vol. 55(4), pages 1671-1688, October.
    8. James Boyce, 2007. "Public Finance, Aid and Post-Conflict Recovery," Working Papers wp140, Political Economy Research Institute, University of Massachusetts at Amherst.
    9. Sijbren Cnossen, 2014. "Mobilizing VAT Revenues in African Countries," CESifo Working Paper Series 5102, CESifo.
    10. Jean-Pierre Allegret & Bernard Courbis & Philippe Dulbecco, 2003. "Intermédiation et stabilité financière dans les marchés émergents," Post-Print hal-01660189, HAL.
    11. Stephanie J. Rickard & Teri L. Caraway, 2019. "International demands for austerity: Examining the impact of the IMF on the public sector," The Review of International Organizations, Springer, vol. 14(1), pages 35-57, March.
    12. Iasmin Goes, 2023. "Examining the effect of IMF conditionality on natural resource policy," Economics and Politics, Wiley Blackwell, vol. 35(1), pages 227-285, March.
    13. James Boyce, 2008. "Post-Conflict Recovery: Resource Mobilization and Peacebuilding," Working Papers wp159, Political Economy Research Institute, University of Massachusetts at Amherst.
    14. Sokolovska, Olena & Sokolovskyi, Dmytro, 2011. "The effect of tax-tariff reform: evidence from Ukraine," MPRA Paper 42643, University Library of Munich, Germany.
    15. Fjeldstad, Odd-Helge, 2013. "Taxation and Development : A Review of Donor Support to Strengthen Tax Systems in Developing Countries," WIDER Working Paper Series 010, World Institute for Development Economic Research (UNU-WIDER).
    16. Ulrich Fritsche, 1999. "Konzeptionelle Schwächen von IWF-Stabilisierungsprogrammen im Kontext der Asienkrise," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 68(1), pages 110-117.
    17. James K. Boyce, 2007. "Public finance, aid and post-conflict recovery," UMASS Amherst Economics Working Papers 2007-09, University of Massachusetts Amherst, Department of Economics.
    18. Li, Larry & Sy, Malick & McMurray, Adela, 2015. "Insights into the IMF bailout debate: A review and research agenda," Journal of Policy Modeling, Elsevier, vol. 37(6), pages 891-914.
    19. Dora Benedek & Ernesto Crivelli & Sanjeev Gupta & Priscilla Muthoora, 2014. "Foreign Aid and Revenue: Still a Crowding-Out Effect?," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 70(1), pages 67-96, March.
    20. Brun, Jean-François & Gnangnon, Sèna Kimm, 2017. "Does trade openness contribute to driving financing flows for development?," WTO Staff Working Papers ERSD-2017-06, World Trade Organization (WTO), Economic Research and Statistics Division.
    21. Thilak Ranaweera, 2004. "Ghost of the financing gap: an overlooked aspect of the aid debate," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(4), pages 637-652.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:fosoec:v:44:y:2015:i:2:p:159-178. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RFSE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.