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Some Thoughts on the Washington Consensus and Subsequent Global Development Experience
Journal of Economic Perspectives ( IF 6.9 ) Pub Date : 2021-07-29 , DOI: 10.1257/jep.35.3.67
Michael Spence 1
Affiliation  

This paper discusses the Washington Consensus, its origins, and its insights in terms of subsequent development experience in a broad range of countries. I continue to find that when properly interpreted as a guide to the formulation of country-specific development strategies, the Washington Consensus has withstood the test of time quite well. In my view, subsequent experience, especially in Asia, reveals a number of places where a shift in emphasis would be warranted. Finally, I try to identify some misuses of the Washington Consensus and suggest that it was vulnerable to misuse due to the absence of an accompanying and explicit development model.

中文翻译:

关于华盛顿共识的几点思考及后续全球发展经验

本文讨论了华盛顿共识、它的起源以及它对一系列国家后续发展经验的见解。我继续发现,如果将《华盛顿共识》正确解释为制定具体国家发展战略的指南,那么它经受住了时间的考验。在我看来,后来的经验,特别是在亚洲的经验,揭示了一些需要转移重点的地方。最后,我试图找出华盛顿共识的一些误用,并提出由于缺乏伴随的明确的发展模型,它很容易被误用。
更新日期:2021-07-29
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