The washington consensus refers to a set of broadly free market economic ideas, supported by prominent economists and international organisations, such as the imf, the world bank, the eu and the us. Washington consensus definition and criticism economics help. The term washington consensus usually refers to the level of agreement between the international monetary fund imf, world bank, and u. The washington consensus refers to a set of free market economic policies supported by prominent financial institutions such as the international monetary fund, the world bank, and the u. The concept and name of the washington consensus were first presented in 1989 by john williamson, an economist from the institute for international economics, an international economic think tank based in washington, d. A british economist named john williamson coined the term washington consensus in 1989. The ideas were intended to help developing countries that faced economic crises. The term was first used in 1989 by english economist john williamson.
The washington consensus as policy prescription for. Washington consensus, a set of economic policy recommendations for developing countries, and latin america in particular, that became popular during the 1980s. Pior ainda, esta e uma frase sem uma definicao clara e geralmente aceita, mas com pelo menos tres significados diferentes. The washington consensus as i originally formulated it was not written as a policy prescription for development.
Apr 30, 2018 the washington consensus refers to a set of free market economic policies supported by prominent financial institutions such as the international monetary fund, the world bank, and the u. Of course, development was the main objective of the. Sua elaboracao ficou a cargo do economista norteamericano john williamson. Monterrey 2007 will provide the occasion for reconvening inter. Dec 22, 2017 washington consensus definition and criticism 22 december 2017 25 april 2017 by tejvan pettinger the washington consensus refers to a set of broadly free market economic ideas, supported by prominent economists and international organisations, such as the imf, the world bank, the eu and the us. Essentially, the washington consensus advocates, free trade, floating exchange rates, free markets and macroeconomic stability. It is not a coincidence then that the appearance in 1989 of the washington consensus coincided with fall of the berlin wall, which symbolically marked the burial of centrally planned economies. Williamson used the term to summarize commonly shared themes among policy advice by washingtonbased institutions at the time. Salariazo y revolucion productiva alianzas con agentes economicos.