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The Brussels-Frankfurt-Washington Consensus. Old and New Tradeoffs in Economics

The application of the policies prescribed by the Washington Consensus in developing countries is the subject of a vast literature. What is much less known is that there exist only one pure laboratory experiment implementing the Washington Consensus in the western world: Europe. The aim of this paper is to show that Europe has gone very far in the internalisation of the Washington Consensus; in fact, it has devised constitutionally a form of government that has no choice but to implement it. What appears then clearly is that this attempt was not a success story.

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Paper provided by Observatoire Francais des Conjonctures Economiques (OFCE) in its series Documents de Travail de l'OFCE with number 2004-02.

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Date of creation: 2004
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Publication status: Forthcoming in the "Initiative for Policy Dialogue Macroeconomics Companion Volume", edited by Shari Spiegel and Joseph E. Stiglitz
Handle: RePEc:fce:doctra:0402
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