2.??????(Washington Consensus)???????(Post- Washington Consensus) ???????

1
2.??????(Washington Consensus)???????(Post-
Washington Consensus)???????

• The New Development Economics -after the
  Washington Consensus
• Edited by Jomo KS and Ben Fine
• ??????

2
1.Introduction

• ??McNamara????,???????????????????????????????????
  ???????,?????????
• 1980??????????,??1990????,??????(aid
  regime)????????1989?,John Williamson??????????????
  ???????????,??????????
• ??????????????,??????????(Washington
  Consensus)?,???????????(stabilization)?????(struct
  ural adjustment)???????????????????????,???1990???
  ???????????????,?????????(Post- Washington
  Consensus)?
• ??????????????????(broader process),?McNamara?????
  ??

3
2.From Poverty to Structural Adjustment

• ????????(1950s1960s),???????????????????????????(
  trickle down)???????,????????????,???????????????
  ????????,????????????????????????,???????60??????
  ????,????????????
• ?1960????,????????????????????????????????(United
  Nations' General Assembly)????????????(Second
  Development Decade)???????????????????????????????
  ??(United Nations 1973)?

4
2.From Poverty to Structural Adjustment (con.)

• ???,??????????Robert McNamara,????????,???????????
  ??????????McNamara?????,??????????????????????
• (McNamara 1981)?????????,?????????????????????????
  ???????,?????????????????????????????,?????????

5
2.From Poverty to Structural Adjustment (con.)

• 1973?,McNamara??????????????????,????????????(McNa
  mara 1981)???????,???????????????????????1.????,?
  ??????????2.??????,??????3.?????????(????)?
• ???????????1.?????????????2.?????????3.??????????
  ???????????????????
• ?1970????,?????????(poverty lending)??????30,????
  ????????????30(World Bank1980)??poverty
  lending?,???????55????????????25????????????10
  ?????????????????,????????????????,????7?

6
2.From Poverty to Structural Adjustment (con.)

• ?????McNamara??,????????????????????
• ???????????????,???????????????????????,???????,?
  ?????????????(OECD)????????????????????,??????????
  ???????????,???????????????????
• ?1980?,????????????(structural adjustment)????????
  ?????,?????1.?????????????????,??????(promote
  dialogue)?2.????????????????,?????????3.??????????
  ?????????????????????????,?????????????????,??????
  ??????,??????????????

7
2.From Poverty to Structural Adjustment (con.)

• ?????????????,??????????????,?????????????
• ???1981?,Berg Report???????????????,??????????????
  ??????1.????????(over-protection),???????????????2
  .?????????(over-extension),???????????????????????
  ?????????????????????,????????
• Berg Report??1.???????????????????????2.?????????
  ???????3.??????????????

8
3.Policy-based Lending and the Washington
Consensus

• ?1980????,?????(Bretton Woods)????????????????????
  ????????????(IMF)???????????,???????????????(perfe
  ct market)?????????(Williamson 1989)??Washington
  Consensus,???????????????????????????????????????
• ??????????????????????????????????????????John
  Williamson?1989??????????????????????????????(??
  ????????????IMF?????)??????????????????,????????

9
3.Policy-based Lending and the Washington
Consensus (con.)

• Fiscal discipline.
• Public expenditure redirection (redirect
  government expenditures toward such as
  health?education?and infrastructure).
• Tax reform (to lower marginal rates and broaden
  the tax base).
• Interest rate liberalization.
• A competitive exchange rate.
• Trade liberalization.
• Liberalization of FDI.
• Privatization.
• Deregulation (impede the entry of new firms or
  restrict competition were to be abolished).
• Secure property rights.

10
3.Policy-based Lending and the Washington
Consensus (con.)

• ?????????????(SAPs),????????????IMF??????????????
  ?????????????????IMF??????????????????????????,?
  ??????????,?????????????,???????
• 1980????,????????????????????,???????????????????
  ?????????????????????????,?????????????????

11
3.Policy-based Lending and the Washington
Consensus (con.)

• Policy-based lending?1980??????????????????????(st
  ructural adjustment lending SAL)?????????(sectora
  l adjustment lending SECAL)?????????,????????????
  
• ???????????????????Arrow-Debreu???????(GE)??,?????
  ???????????,???????????????(Pareto-efficient)????

12
4.From Structural Adjustment to Institutions and
Poverty The Washington Consensus Expands

• ?????????,???????????????,????????????IMF?????????
  ????????????????????,????????????????????????1.??
  ??????2.???????????(?????)?3.????????????????????(
  fallacy of composition) ????????????,????????????
  ????????4.????????????????????,????????????,??????
  ????????
• ????????????????1990?,World Development
  Report??????????????????1.????????????????????2.?
  ???????3.???????

13
4.From Structural Adjustment to Institutions and
Poverty The Washington Consensus Expands (con.)

• 1996?Williamson???????????????????????????????????
  ???????,?????????????????????????????????????????,
  ?????????,?????????????????????????????????????,??
  ???????????????????,??????????????????????????????
  ?????????????????????????,????????????????????????
  ??????????????????????????????????????????????????
  ?????

14
5.The Post- Washington Consensus

• ????????????????????? (Joseph E.
  Stiglitz)???,??????????,??????????,??????????????
  ?????????,?????????????????????
• ??????????,???????(????1?????)????1970???1??,1980?
  ?36??,?1998?????189??????????????????????

15
5.The Post- Washington Consensus (con.)

• ??????????????,??IMF??A??????????????????,???????
  ????GDP??,????????????????????????
• ?????????,????????????(less development countries)
  ?????????????????????????????????,??????????????
  ?,????????????????????IMF???,?????????(market
  failure)????

16
5.The Post- Washington Consensus (con.)

• ??????????????,????????????,??????????????????????
  ???????????????????,???????????????????????90????,
  ?????????????????????????????????(credit constrain
  ts)?
• ???????????????????????????????,?????????????????
  ????,?????,??????????????????????(Post-
  Washington Consensus )?(Stiglitz 1998)

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6.The Post- Washington Consensus Comprehensive
Development?

• ??????????????????????????????????????????????????
  ??????????????????????????
• ????????????????????????????????????????,?????????
  ???????????????????????????????,??????????????????
  ????????????,??????????,???????????????

18
6.The Post- Washington Consensus Comprehensive
Development? (con.)

• ??????????????????????,???????????????????????????
  ??????????????????????????????????????,????????
  ??????????????????????????????????????????????????
  ?????????,?????????????????,?????????????????????,
  ??????????????????,????,??????????????