THE WASHINGTON CONSENSUS

THE WASHINGTON CONSENSUS - THE WASHINGTON CONSENSUS Osvaldo...

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THE WASHINGTON CONSENSUS Osvaldo Jordan September 10, 2009
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ECONOMIC DEVELOPMENT OUTWARD DEVELOPMENT - Growth is based on the export of those crops in which a country has a comparative advantage (Free International Trade). INWARD DEVELOPMENT - Growth is based on the industrialization of the national economy (Trade Barriers and Protective Tariffs).
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OUTWARD VS. INWARD After the 1930s, nationalistic and socially- oriented governments leaned towards inward development. Getulio Vargas, Lazaro Cardenas, Juan Domingo Peron. During the Cold War, the US considered these government anti-American, and acted to protect the interests of Multinational Corporations (MNCs).
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OUTWARD VS. INWARD In the 1970s, the World Bank and American universities propagated the notion that ISI was reducing Latin American competitiveness, and therefore countries should undergo Structural Adjustment (SA) economic policies. During this period, military governments
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THE WASHINGTON CONSENSUS - THE WASHINGTON CONSENSUS Osvaldo...

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