In this book Dani Rodrik brings together a group of previously published essays to present a forceful elaboration both of his criticisms of the policy approach to economic growth in developing countries known as ' the Washington consensus' and a detailed description of the policy approach he favors to foster development. Policies promoted by the World Bank, the International Monetary Fund, and the US Treasury Department emphasizing the primacy of minimizing government interventions in promoting economic development and instead relying on the functioning of free markets characterize the Washington consensus. For example, such specific policies as privatization, trade liberalization, openness to direct foreign investment, fiscal discipline, sound monetary policies, deregulation, and secure property rights have long been advocated by these institutions. Moreover, over time the list has been expanded to emphasize such factors as the need for good governance and the development of institutions promoting economic stability and providing social safety nets.
展开▼
