Fiscal Policy and the Washington Consensus: A Post Keynesian Perspective

Alcino F. Câmara Neto and Matías Vernengo

Working Paper Series, Department of Economics, University of Utah from University of Utah, Department of Economics

Abstract: The debt crisis of the early 1980s prompted several analyses that emphasized the negative role of fiscal deficits on economic development. This negative view of fiscal deficits was consolidated in the so-called Washington Consensus agenda. International financial crises recurrent in a world of true uncertainty with unregulated capital flows, and flexible exchange rates have led to perennial fiscal adjustment. Alternatives to the permanent fiscal adjustment, the main legacy of the Washington Consensus, from a Post Keynesian perspective, are presented. It is emphasized that the notion of the euthanasia of the rentier is a necessary complement to the socialization of investment.

Keywords: Policy; Development; Post Keynesian Economics (search for similar items in EconPapers)
JEL-codes: B50 E62 O10 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2004
New Economics Papers: this item is included in nep-hpe, nep-ifn and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
http://economics.utah.edu/research/publications/2004_09.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://economics.utah.edu/research/publications/2004_09.pdf [302 Moved Temporarily]--> https://economics.utah.edu/research/publications/2004_09.pdf)

Related works:
Journal Article: Fiscal policy and the Washington consensus: a Post Keynesian perspective (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:uta:papers:2004_09

Access Statistics for this paper

More papers in Working Paper Series, Department of Economics, University of Utah from University of Utah, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by ().