The Washington Consensus Reconsidered: Towards a New Global Governance

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Overview

This volume brings together many of the leading international figures in development studies, such as Jose Antonio Ocampo, Paul Krugman, Dani Rodrik, Joseph Stiglitz, Daniel Cohen, Olivier Blanchard, Deepak Nayyar and John Williamson to reconsider and propose alternative development policies to the Washington Consensus. Covering a wide range of issues from macro-stabilization to trade and the future of global governance, this important volume makes a real contribution to this important and ongoing debate.

The volume begins by introducing the Washington Consensus, discussing how it was originally formulated, what it left out, and how it was later interpreted, and sets the stage for a formulation of a new development framework in the post-Washington Consensus era. It then goes on to analyze and offer differing perspectives and potential solutions to a number of key development issues, some which were addressed by the Washington Consensus and others which were not. The volume concludes by looking toward formulating new policy frameworks and offers possible reforms to the current system of global governance.

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Product Details

  • ISBN-13: 9780199534098
  • Publisher: Oxford University Press
  • Publication date: 6/17/2008
  • Series: Initiative for Policy Dialogue Series C Series
  • Edition description: New Edition
  • Pages: 384
  • Product dimensions: 6.10 (w) x 9.10 (h) x 0.90 (d)

Meet the Author

Narcís Serra is the President of the CIDOB Foundation. During this time, he has been the driving force behind the creation of the Barcelona Institute for International Studies (IBEI), which was founded with the desire to make Barcelona a centre of reference in the study of this discipline. Currently, he is the President of Caixa Catalunya and Chairman of the Board of the National Museum of Art of Catalonia (MNAC). He has previously served as Mayor of Barcelona, was Spanish Minister of Defence in the Government of Felipe González, and in 1991, he was named Vice President of the Spanish Government. From 1986 until 2004, Narcís Serra was a Deputy for Barcelona in the Spanish Congress.

Joseph E. Stiglitz was awarded the Nobel Prize in economics in 2001 and is University Professor at Columbia University where he founded the Initiative for Policy Dialogue in 2000. He was Chair of President Bill Clinton's Council of Economic Advisors from 1995-97 and Chief Economist and Senior Vice-President of the World Bank from 1997-2000.His best known recent publications include 'Making Globalization Work' (2006), 'Fair Trade for All' (2005), 'Globalization and its Discontents' (2002) and 'The Roaring Nineties' (2003).

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Table of Contents


List of Figures     ix
List of Tables     x
List of Contributors     xi
Foreword     xiii
The Washington Consensus: From Its Origins to Its Critics
Introduction: From the Washington Consensus Towards a New Global Governance   Narcis Serra   Shari Spiegel   Joseph E. Stiglitz     3
A Short History of the Washington Consensus   John Williamson     14
Inequality and Redistribution   Paul Krugman     31
Is there a Post-Washington Consensus Consensus?   Joseph E. Stiglitz     41
The Barcelona Development Agenda     57
Analyses of Central Issues in Development
A Broad View of Macroeconomic Stability   Jose Antonio Ocampo     63
The Wild Ones: Industrial Policies in the Developing World   Alice H. Amsden     95
Sudden Stop, Financial Factors, and Economic Collapse in Latin America: Learning from Argentina and Chile   Guillermo A. Calvo   Ernesto Talvi     119
Towards a New Modus Operandi of the International Financial System   Daniel Cohen     150
The World Trading System and Implications of External Opening   Jeffrey A. Frankel     180
The World Trading System and Development Concerns   Martin Khor     215
Reforming Labor Market Institutions: Unemployment Insurance and Employment Protection   Olivier Blanchard     260
International Migration and Economic Development   Deepak Nayyar     277
Towards a New Global Governance
The Future of Global Governance   Joseph E. Stiglitz     309
Growth Diagnostics   Ricardo Hausmann   Dani Rodrik   Andres Velasco     324
A Practical Approach to Formulating Growth Strategies   Dani Rodrik     356
Index     367
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