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Theoretical and Policy Doctrines in Late Development

In: Alternatives to Neoliberal Globalization

Author

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  • Dic Lo

    (University of London)

Abstract

The 1980s and 1990s were ‘lost decades of development’. They were also characterized by a conspicuous absence of strategies for economic development, particularly for industrialization, on the worldwide policy agenda. What actually prevailed in this era of neoliberal globalization was the presumed universal principle: let the market decide and deliver. Thus, in contrast to the preneoliberal focus on growth and industrialization, the generations of policy doctrines of the Washington Consensus in the new era focused on liberalization, privatization, and financialization. Trade liberalization, in particular, was central to the doctrines, as a substitution for development strategies.

Suggested Citation

  • Dic Lo, 2012. "Theoretical and Policy Doctrines in Late Development," Palgrave Macmillan Books, in: Alternatives to Neoliberal Globalization, chapter 2, pages 10-36, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-36116-4_2
    DOI: 10.1057/9780230361164_2
    as

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