Abstract
The original purpose of the term ‘Washington Consensus’ was to distinguish between a number of policies that remain the subject of partisan controversy and a group of policies that were thought to be consensual in the post-1989 world. After its creation in 1989 the term acquired at least two more meanings. Some used it to describe the policies of the IMF and World Bank, which came to embrace not only institutional reform and a concern with governance but also the two-corners solution for exchange rates and capital account convertibility. Others used the term as a synonym for laissez-faire.
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Williamson, J. (2018). Washington Consensus. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2656
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2656
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Publisher Name: Palgrave Macmillan, London
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Online ISBN: 978-1-349-95189-5
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