Book contents
- Frontmatter
- Contents
- Introduction
- I Contemporary American Society and Politics
- II Ideologia Americana or Americanism in Action: Transatlantic Encounters
- III Ideologia Americana or Americanism in Action: Foreign Policy
- Washington Consensus: Dead or Alive?
- What Drives U.S. Official Development Assistance (And Why It's not Development)?
- Confronting the Global Frontier: The Promotion of American Democracy as a Challenge to the Multipolar World Order
- American “Soft Power” after George W. Bush's Presidency
- Norms and Values in American International Relations Theories
- American Strategy Toward Global Governance. New Leadership or Crisis of Identity?
- IV Ideologia Americana or Americanism in Action: Impact of American Values
- V Ideologia Americana or Americanism in Action: Exceptionalism and Democracy Promotion
- VI Continuity and Change
Washington Consensus: Dead or Alive?
from III - Ideologia Americana or Americanism in Action: Foreign Policy
Published online by Cambridge University Press: 05 September 2014
- Frontmatter
- Contents
- Introduction
- I Contemporary American Society and Politics
- II Ideologia Americana or Americanism in Action: Transatlantic Encounters
- III Ideologia Americana or Americanism in Action: Foreign Policy
- Washington Consensus: Dead or Alive?
- What Drives U.S. Official Development Assistance (And Why It's not Development)?
- Confronting the Global Frontier: The Promotion of American Democracy as a Challenge to the Multipolar World Order
- American “Soft Power” after George W. Bush's Presidency
- Norms and Values in American International Relations Theories
- American Strategy Toward Global Governance. New Leadership or Crisis of Identity?
- IV Ideologia Americana or Americanism in Action: Impact of American Values
- V Ideologia Americana or Americanism in Action: Exceptionalism and Democracy Promotion
- VI Continuity and Change
Summary
The origins of the Washington Consensus lie in the debt crisis of the 1980s in Latin American countries. Their economies – built on the import substitution strategy, strongly protectionist, living on borrowed money and wasting that money – were on the verge of bankruptcy. The cure was adopting new economic strategies advised by international financial institutions, mostly, the International Monetary Fund. Also, western economic think tanks were preparing receipts for economic recovery of Latin American countries. Institute for International Economics, located in Washington, D.C., also presented its proposal – called Washington Consensus – that was accepted by governments of most of Latin American countries. In very short way it can be described as a set of neoliberal reforms that had to help Latin American economies to get out of the deep crisis.
It is almost twenty years since the Consensus was adopted. In that period Latin American countries went through a lot of economic, political and social crisis. In my paper I would like to answer the question: Are the recommendations of Washington Consensus still actual for Latin America? Moreover, are they still implemented? A lot of factors make it difficult to prove that the ideas of neoliberal transformation in Latin America are today commonly accepted in the region. As the 21st century started, deep creeks have appeared within the consensus.
- Type
- Chapter
- Information
- The United States and the WorldFrom Imitation to Challenge, pp. 155 - 164Publisher: Jagiellonian University PressPrint publication year: 2009