THE%20WASHINGTON%20CONSENSUS_rev

THE%20WASHINGTON%20CONSENSUS_rev - THE WASHINGTON CONSENSUS...

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THE WASHINGTON CONSENSUS List of Reforms that should be adopted by Developing Economies in order to Quicken the Pace of Growth and Development Rule of Law – Government must have the ability and willingness to Transparency of government – Transparency of government helps minimize opportunities for corruption. Well-established, functioning institutions that support market- based growth If necessary, reform the legal code. Need both a commercial law code as well as criminal law code. There should be company law, patent laws, bankruptcy laws, etc. Political policy on competition & foreign trade & investments Financial, banking institutions that operate under forces of market supply and demand Regulatory environment for industry standards, labor, competition policy. Media for information dissemination and access to timely, accurate, complete information Transportation infrastructure & networks to improve
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THE%20WASHINGTON%20CONSENSUS_rev - THE WASHINGTON CONSENSUS...

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