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Life beyond the Washington Consensus: An Introduction to Pro-poor Macroeconomic Policies

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  • Alfredo Saad-Filho

Abstract

This article reviews the 'pro-poor' macroeconomic policy alternative to the Washington consensus. The pro-poor approach draws heavily on heterodox economic theory, and offers a compelling view of an alternative economic strategy oriented primarily to the satisfaction of the basic needs of the majority of the population, the equitable distribution of income, wealth and power, and the preservation of macroeconomic stability. These aims point to a specific set of fiscal, monetary, trade and exchange rate policies. The paper argues that such policies should be supported by social programmes designed to achieve the desired pro-poor outcomes as rapidly as possible.

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  • Alfredo Saad-Filho, 2007. "Life beyond the Washington Consensus: An Introduction to Pro-poor Macroeconomic Policies," Review of Political Economy, Taylor & Francis Journals, vol. 19(4), pages 513-537.
    • Handle: RePEc:taf:revpoe:v:19:y:2007:i:4:p:513-537
    DOI: 10.1080/09538250701622352
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    2. Illien, Patrick & Bieri, Sabin, 2024. "Political settlements analysis and the study of pro-poor development: Laos and Rwanda compared," World Development, Elsevier, vol. 181(C).
    3. Alfredo Saad-Filho, 2015. "Social Policy for Neoliberalism: The Bolsa Família Programme in Brazil," Development and Change, International Institute of Social Studies, vol. 46(6), pages 1227-1252, November.
    4. Jan PRIEWE, 2016. "Eight Strategies for Development in Comparison," Turkish Economic Review, KSP Journals, vol. 3(3), pages 401-430, September.
    5. Ferrannini, Andrea & Barbieri, Elisa & Biggeri, Mario & Di Tommaso, Marco R., 2021. "Industrial policy for sustainable human development in the post-Covid19 era," World Development, Elsevier, vol. 137(C).
    6. Kevin Gallagher, 2012. "The Myth of Financial Protectionism: The New (and old) Economics of Capital Controls," Working Papers wp278, Political Economy Research Institute, University of Massachusetts at Amherst.
    7. Meg Elkins & Simon Feeny & David Prentice, 2015. "Do Poverty Reduction Strategy Papers reduce poverty and improve well-being?," Discussion Papers 15/02, University of Nottingham, School of Economics.
    8. Priewe, Jan, 2015. "Eight strategies for development in comparison," IPE Working Papers 53/2015, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    9. Arana, Rumile & Ramirez, Francisco A. & Wright, Allan, 2017. "Credit Risks and Monetary Policy within Caribbean Economies," IDB Publications (Working Papers) 8268, Inter-American Development Bank.

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