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The Washington Consensus:A Critical Evaluation of the Principles and Implications for Economic Development

Author

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  • Imad A Moosa

    (Ton Duc Thang University, Vietnam)

Abstract

The objective of the book is to evaluate critically the ten principles of the Washington Consensus, which govern the conditionality provisions of the IMF and World Bank, and guide the so-called economic reform in developing countries. The book starts with an overview of the Consensus, followed by a chapter on IMF conditionality and how they are related. Since the Consensus is inherently neoliberal, a chapter is devoted to a critique of the free market doctrine and the concept of economic freedom as seen by free marketeers. The ten principles of the Washington Consensus (referred to as the "ten commandments") are divided into four groups: fiscal reform, interest and exchange rate policies, liberalization of trade and foreign direct investment, and privatization and deregulation (including property rights).

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Imad A Moosa, 2021. "The Washington Consensus:A Critical Evaluation of the Principles and Implications for Economic Development," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 12260, December.
    • Handle: RePEc:wsi:wsbook:12260
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    File URL: https://www.worldscientific.com/worldscibooks/10.1142/12260
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    Book Chapters

    The following chapters of this book are listed in IDEAS

    More about this item

    Keywords

    Washington Consensus; Globalization; Free Market Doctrine; Economic Freedom; Fiscal Discipline; Fiscal Reform; Tax ; Reform; Interest Rate Policy; Exchange Rate Policy; Free Trade; Foreign Direct Investment; Privatization; Deregulation; Property Rights;
    All these keywords.

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • F3 - International Economics - - International Finance
    • F5 - International Economics - - International Relations, National Security, and International Political Economy

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