Theoretical and Policy Doctrines in Late Development

Dic Lo
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Dic Lo: University of London

Chapter 2 in Alternatives to Neoliberal Globalization, 2012, pp 10-36 from Palgrave Macmillan

Abstract: 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.

Keywords: Foreign Direct Investment; Comparative Advantage; Dynamic Industry; Flexible Specialization; Export Processing Zone (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-36116-4_2

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DOI: 10.1057/9780230361164_2

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