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The Co-Evolution of the Washington Consensus and The Economic Development Discourse

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  • Kanbur, Ravi

Abstract

In this paper I give an account of development debates of the past two decades, focusing on the Washington Consensus and on the broader economic development discourse in historical context. Section 2 gives a basic account of the Washington consensus and how its meaning changed from the original formulation. Section 3 presents the evolution of the economic development discourse since the second-world-war, through the 1980s, up to the present. Section 4 asks if there is now a new consensus on economic development, in light of the recent report of the Commission on Growth and Development. Section 5 concludes.

Suggested Citation

  • Kanbur, Ravi, 2009. "The Co-Evolution of the Washington Consensus and The Economic Development Discourse," Working Papers 48920, Cornell University, Department of Applied Economics and Management.
    • Handle: RePEc:ags:cudawp:48920
    DOI: 10.22004/ag.econ.48920
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    References listed on IDEAS

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    1. Ann Harrison, 2007. "Globalization and Poverty," NBER Books, National Bureau of Economic Research, Inc, number harr06-1, October.
    2. Rodrik, Dani, 2007. "How to Save Globalization from Its Cheerleaders," Working Paper Series rwp07-038, Harvard University, John F. Kennedy School of Government.
    3. Eswar S. Prasad & Raghuram G. Rajan, 2008. "A Pragmatic Approach to Capital Account Liberalization," Journal of Economic Perspectives, American Economic Association, vol. 22(3), pages 149-172, Summer.
    4. Harrison, Ann (ed.), 2007. "Globalization and Poverty," National Bureau of Economic Research Books, University of Chicago Press, number 9780226318004.
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    Cited by:

    1. Kanbur, Ravi, 2021. "Past, Present and Future of International Organizations, See Through the Lens of Bretton Woods and the World Bank," Working Papers 313755, Cornell University, Department of Applied Economics and Management.
    2. Currie-Alder, Bruce & Kanbur, Ravi & Malone, David M. & Medhora, Rohinton, 2013. "The State of Development Thought," Working Papers 180073, Cornell University, Department of Applied Economics and Management.
    3. Ravi Kanbur, 2016. "The End of Laissez-Faire, the End of History, and the Structure of Scientific Revolutions," Challenge, Taylor & Francis Journals, vol. 59(1), pages 35-46, January.
    4. Kanbur, Ravi, 2016. "Economics And Economic Policy," Working Papers 250029, Cornell University, Department of Applied Economics and Management.
    5. Wiggins, S., 2016. "IFAD RESEARCH SERIES 1 - Agricultural and rural development reconsidered: a guide to issues and debates," IFAD Research Series 280035, International Fund for Agricultural Development (IFAD).
    6. Devarajan, Shantayanan & Kanbur, Ravi, 2013. "The Evolution of Development Strategy as Balancing Market and Government Failure," Working Papers 180091, Cornell University, Department of Applied Economics and Management.
    7. Arman Canatay & Leonel Prieto & Muhammad Ruhul Amin, 2023. "Integrating “Neoliberal-Turn” and “Social-Turn” Constructs in Examining Sustainable Development and Happiness and Life Satisfaction: A Global-, Country Cluster-, and Country-Level Study," Sustainability, MDPI, vol. 15(13), pages 1-56, June.

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