The Rise and Fall of the Washington Consensus as a Paradigm for Developing Countries

Gore, Charles

doi:10.1016/s0305-750x(99)00160-6

Cited by 503 publications

(237 citation statements)

References 18 publications

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“…It is no surprise, then, to find various forms of the PWC, some of them evolving from the original WC view , some making an economic break from the WC (e.g. Stiglitz 1998), and some of them being a more political and social critique of the WC with a broader agenda (Gore 2000). All of them, though, would have taken as a point of departure a critique of the simple 10-point list shown above.…”

Section: From Neoliberalism To Post Neoliberal Governancementioning

confidence: 99%

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Growth and Development in the Global Political Economy

O’Hara¹

2004

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Recent institutional changes have seen the increasing dominance of globalization and neoliberalism in the world economy. As markets have been deregulated, privatization and unproductive government spending have been promoted. Yet the greater volatility of capitals, the emergence of many financial crises, a decline in trust, and environmental problems have cast doubt on the effectiveness of neoliberal globalization.This book studies the impact of neoliberal globalization on growth and development in the world economy. It scrutinizes whether new social structures of accumulation or modes of regulation have emerged to promote long-term socioeconomic performance in the global economy during the early years of the twenty-first century. Special reference is given to the specific performance of neoliberal governance; transnational corporations; global institutions of money, trade, and production; international relations of war and terrorism; financial institutions; and the family-community environment.It is a comprehensive analysis of the degree to which institutional development has managed to promote socioeconomic performance in the global economy. It also presents a thorough policy program of action for long wave upswing in the world economy. It will be especially useful for those scholars and students concerned with issues of governance, global political economy, institutions, and macroeconomics.Phillip Anthony O'Hara is Professor of Global Political Economy and Governance and Director of the Global Political Economy Research Unit, at Curtin University, Perth, Australia. He won the European Association for Evolutionary Political Economy "2002 Gunnar Myrdal Prize" for Marx, Veblen and Contemporary Institutional Political Economy (Elgar, 2000); is the editor of Global Political Economy and the Wealth of Nations (Routledge, 2004) Reviews of Growth and Development in the Global Political Economy"I am delighted to endorse Phil O'Hara's new volume. Many years ago I examined his Honours dissertation at Murdoch University on Marx's theories of crisis. It was an outstanding piece of scholarship and I recognised then that a star had been born. His many contributions since show how right I was! Growth and Development in the Global Political Economy is the jewel in his crown. It contains a superb intertwining of historical, political, economic and institutional analysis of modern global capitalism, its successes and failures. It is also a critique of the claims of neoliberal analysis, and the provision of an alternative illuminating analysis; combined with detailed suggestions for the creation of institutions that will go some way towards ensuring that potential sustainable development will be achieved in a manner that helps all the world's citizens and preserves the physical environment for future generations. O'Hara has written a notable book which ought to be read by all serious economists, social scientists, concerned citizens, politicians and policy makers." Professor G.C.Harcourt, Cambridge University, UK. "In Growth...

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Section: From Neoliberalism To Post Neoliberal Governancementioning

confidence: 99%

“…For instance, Charles Gore (2000) puts forward a PWC view that includes the sustainable human development approach of the United Nations and Amartya Sen's capabilities theory. These influences aim at improving people's lives through more participatory and poverty-reducing programs.…”

Section: From Neoliberalism To Post Neoliberal Governancementioning

confidence: 99%

Growth and Development in the Global Political Economy

O’Hara¹

2004

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“…7 At the same time donors claimed commitment to human development and security values, the criteria for their assistance became more selective and restrictive (Barnett, 1999). The aid system became fascinated with 'quick fixes'; development was reduced to short-term improvements in selected 'performance indicators' rather than longer-term processes of structural transformation, poverty elimination, and enhancements of human capability and agency (Busumtwi-Sam, 2004;Gore, 2000). Despite the rhetoric of 'ownership', aid was allocated largely according to donors' results-oriented criteria, rather than recipients' needs.…”

Section: Methods Of Human Security: Opportunities and Challengesmentioning

confidence: 99%

Contextualizing human security: A ‘deprivation–vulnerability’ approach

Busumtwi-Sam

2008

Policy and Society

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Devising a more precise operational definition of human security has been elusive, hampering efforts to create an effective global framework. This article develops a framework for operationalizing a development-oriented approach to human security that establishes clear research and policy priorities. The analysis stakes out a middle ground between expansive and narrower human security approaches revealing they are not as polarized as sometimes portrayed, and argues that human security and human development are distinct but complementary; whereas the former is a relative condition and the latter is a longer-term process. The paper proposes a deprivation–vulnerability approach to human security, based on the analysis of threats and vulnerabilities conditioned by deprivations and exclusions, and takes initial steps at developing a human security risk management model that initially prioritizes populations more vulnerable to harm.

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“…First of all, the transition process of the Malaysian economy resembles the transition of the Macedonian economy in many ways. Both economies followed suggested liberalisation policies by the IMF, which at their core were very much alike and based on the standard neo-liberal prescriptions -rapid shock therapy, trade and financial liberalisation and privatisation (Gore 2000). Second, considering the theory discussed in the previous section and the fact that little research has been conducted on the growth of transition economies using time-series analysis, this specification and estimators were found helpful for the objectives of this paper, especially as most of the studies exploring the debate around trade and growth in small transition economies in Europe use panel or cross country analysis to determine the significant macroeconomic indicators to growth (Backe and Gardo 2012; Bartlett and Prica 2012;Bartlett 2009).…”

Section: Model Specification and Explanation Of The Variablesmentioning

confidence: 99%

Trade Liberalisation and Economic Growth in Macedonia

Mano-Bakalinov

2016

South East European Journal of Economics and Business

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The objective of this paper is to explore the effects of trade on Macedonian economic growth. The autoregressive distributed lag (ARDL) model is applied on yearly data over the period of 1993-2014. Empirical investigation reveals that an increase of population and openness demonstrate a positive and significant effect on Macedonian economic growth. Given other diverging findings, this suggests that the relationship between trade reforms and growth through the productivity function may vary across transition economies. Nevertheless, the findings of this paper indicate that policies focusing on market liberalisation and opening the economy to trade have a positive effect on Macedonian economic growth, both in the short run and the long run.

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The Rise and Fall of the Washington Consensus as a Paradigm for Developing Countries

Cited by 503 publications

References 18 publications

Growth and Development in the Global Political Economy

Growth and Development in the Global Political Economy

Contextualizing human security: A ‘deprivation–vulnerability’ approach

Trade Liberalisation and Economic Growth in Macedonia

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