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Neoliberalism and patterns of economic performance: 1980 to 2000

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  • Cohen, Joseph N.
  • Centeno, Miguel A.

Abstract

Neoliberal discourse often produces the impression that the world has undergone a wholesale shift toward laissez-faire and that this shift has produced economic prosperity. This article examines national economic data to discern the degree to which (1) governments have in fact retreated from the market and (2) countries have enjoyed increasing economic prosperity over a period in which they have supposedly been liberalizing. The evidence is mixed on both counts. Although international capital mobility and trade liberalism appears to have grown over the past two decades, there is little evidence of a broad scaling back of governments. Over the same period, countries have not experienced any appreciable improvement in growth, cross-national equality, employment, or national debt loads, although there is some evidence of improved price stability near the end of the 1990s.

Suggested Citation

  • Cohen, Joseph N. & Centeno, Miguel A., 2006. "Neoliberalism and patterns of economic performance: 1980 to 2000," MPRA Paper 22436, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:22436
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    File URL: https://mpra.ub.uni-muenchen.de/22436/1/MPRA_paper_22436.pdf
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    References listed on IDEAS

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    1. Jeffrey D. Sachs, 1989. "Developing Country Debt and the World Economy," NBER Books, National Bureau of Economic Research, Inc, number sach89-3.
    2. John Brohman, 1996. "Postwar Development in the Asian NICs: Does the Neoliberal Model Fit Reality?," Economic Geography, Taylor & Francis Journals, vol. 72(2), pages 107-130, April.
    3. Michael Bruno & Jeffrey D. Sachs, 1985. "Economics of Worldwide Stagflation," NBER Books, National Bureau of Economic Research, Inc, number brun85-1.
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    Cited by:

    1. Zhao, Eric Yanfei & Lounsbury, Michael, 2016. "An institutional logics approach to social entrepreneurship: Market logic, religious diversity, and resource acquisition by microfinance organizations," Journal of Business Venturing, Elsevier, vol. 31(6), pages 643-662.
    2. Cohen, Joseph N, 2011. "“Economic freedom” and economic growth: questioning the claim that freer markets make societies more prosperous," MPRA Paper 33758, University Library of Munich, Germany.
    3. Fabio Ascione & Maria Enrica Virgillito, 2023. "Vertical integration and patterns of divergence in European industries: A long-term input-output analysis," LEM Papers Series 2023/25, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    4. Javier Santiso, 2007. "Latin America's Political Economy of the Possible: Beyond Good Revolutionaries and Free-Marketeers," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262693593, April.

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    More about this item

    Keywords

    trade; neoliberalism; structural adjustment; Latin America; economy; transfers; budget; spending;
    All these keywords.

    JEL classification:

    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
    • H1 - Public Economics - - Structure and Scope of Government
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies

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