| Description | This lecture was taught at the 1998 WIDER Annual Lecture.
The essay provides a thorough critique of the "Washington consensus", a set of beliefs that has become highly influential and it shows that while certain elements of the Washington consensus might have been relevant for addressing the economic crisis of Latin America in the 1980s, they are not sufficient for achieving long term growth or even macroeconomic stability under different circumstances.
It also emphasises the lack of attention of the Washington consensus to developing sound financial markets. |