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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, March.
    2. 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.
    3. Rodrik, Dani, 2007. "How to Save Globalization from its Cheerleaders," CEPR Discussion Papers 6494, C.E.P.R. Discussion Papers.
    4. Harrison, Ann (ed.), 2007. "Globalization and Poverty," National Bureau of Economic Research Books, University of Chicago Press, number 9780226318004, October.
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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. 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.
    3. 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.
    4. 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.
    5. 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.
    6. Kanbur, Ravi, 2016. "Economics And Economic Policy," Working Papers 250029, Cornell University, Department of Applied Economics and Management.
    7. 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).

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