A Post Keynesian view of the Washington consensus and how to improve it

Paul Davidson

Journal of Post Keynesian Economics, 2004, vol. 27, issue 2, 208-230

Abstract: The evidence of the past 15 years has demonstrated that attempting to implement the 10 reforms of the Washington Consensus has ultimately proven to be a disaster for developing nations. If the empirical evidence is of the failure of the Washington Consensus, then why does the G-7, the World Bank, and the IMF seek to tie aid for Latin American nations' economic problems to a demand for the nation to move toward full adoption of the 10 consensus reforms? This paper provides an explanation and suggests alternative policies to achieve success.

Date: 2004
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Chapter: A Post Keynesian View of the Washington Consensus and How to Improve It (2007)
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DOI: 10.1080/01603477.2004.11051440

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