Washington Consensus

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The Washington Consensus is a set of market-oriented economic policy prescriptions—emphasizing liberalization, privatization, and fiscal discipline—promoted by institutions like the IMF and World Bank for developing countries from the late 20th century onward.

All labels observed (5)

How this entity was disambiguated

Statements (51)

Predicate Object
instanceOf development policy paradigm ⓘ
economic policy framework ⓘ
set of policy prescriptions ⓘ
associatedWithInstitution International Monetary Fund ⓘ
U.S. Department of the Treasury ⓘ
World Bank ⓘ
coinageYear 1989 ⓘ
coinedBy John Williamson ⓘ
contrastedWith Beijing Consensus ⓘ
post-Washington Consensus ⓘ
criticizedBy civil society organizations ⓘ
development economists ⓘ
heterodox economists ⓘ
criticizedFor austerity measures ⓘ
one-size-fits-all policy approach ⓘ
social inequality impacts ⓘ
undermining social safety nets ⓘ
emphasizes competitive exchange rates ⓘ
deregulation ⓘ
economic liberalization ⓘ
financial liberalization ⓘ
fiscal discipline ⓘ
market-oriented reforms ⓘ
privatization of state-owned enterprises ⓘ
redirection of public spending toward pro-poor services ⓘ
secure property rights ⓘ
tax reform ⓘ
trade liberalization ⓘ
trade openness ⓘ
field development economics ⓘ
international political economy ⓘ
geographicOrigin United States ⓘ
goal economic growth ⓘ
integration into the global economy ⓘ
macroeconomic stabilization ⓘ
hasAuthor John Williamson ⓘ
ideologicalBasis market fundamentalism ⓘ
neoliberalism ⓘ
influenced Latin American economic reforms in the 1990s ⓘ
post-communist transition policies ⓘ
namedAfter Washington, D.C. ⓘ
policyInstrument conditionality on IMF loans ⓘ
conditionality on World Bank loans ⓘ
structural adjustment programs ⓘ
policyScope financial sector policy ⓘ
macroeconomic policy ⓘ
public sector reform ⓘ
trade policy ⓘ
primaryFocus Latin America ⓘ
developing countries ⓘ
timePeriod late 20th century ⓘ

How these facts were elicited

Referenced by (17)

Full triples — surface form annotated when it differs from this entity's canonical label.

Globalization and Its Discontents → subject → Washington Consensus ⓘ
Globalization and Its Discontents → criticizes → Washington Consensus policies ⓘ
linked to: Washington Consensus
False Dawn: The Delusions of Global Capitalism → criticizes → the Washington Consensus ⓘ
linked to: Washington Consensus
Menemism → influencedBy → Washington Consensus ⓘ
Pink Tide → influencedBy → Washington Consensus policies ⓘ
linked to: Washington Consensus
Pink Tide → opposedTo → Washington Consensus economic model ⓘ
linked to: Washington Consensus
One Economics, Many Recipes → criticizes → Washington Consensus ⓘ
International Development Economics Associates → criticizes → Washington Consensus policies ⓘ
linked to: Washington Consensus
Chicago Boys → influenced → Washington Consensus policies ⓘ
linked to: Washington Consensus
Economic liberalization in India, 1991 reforms → influencedBy → Washington Consensus ideas ⓘ
linked to: Washington Consensus
Kicking Away the Ladder → criticizes → Washington Consensus ⓘ
John Williamson → notableConcept → Washington Consensus ⓘ
Beijing Consensus → alternativeTo → Washington Consensus ⓘ
Latin American anti-neoliberal wave → opposes → Washington Consensus policies ⓘ
linked to: Washington Consensus
Balcerowicz Plan → influencedBy → Washington Consensus ⓘ