After the Washington consensus? Asia and Latin America in search of more autonomous development


Grugel, Jean, Riggirozzi, Pia and Thirkell-White, Ben (2008) After the Washington consensus? Asia and Latin America in search of more autonomous development. International Affairs, 84, (3), 499-517. (doi:10.1111/j.1468-2346.2008.00720.x).

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Description/Abstract

International economic power (the ability to shape rules of global economic conduct) needs to be understood in terms of the interactions between rule-makers and rule-takers in the global economy. Attempts to reshape development paradigms through interventions during financial crisis have been highly significant for the domestic political economy of the developing world. In the 1980s and early 1990s, the primary question was how much countries would liberalize in response to financial crisis. Reactions to the crises of the late 1990s in Asia and Latin America were more varied. This article explores domestic political responses to crises in both regions in the 1980s and late 1990s. It argues that countries are finding it increasingly difficult to trump domestic political pressure for change with arguments about technocratic necessity. Popular pressure is pushing governments into new experiments in economic nationalism, not a radical rejection of global economic integration, but a reshaping of relationships in an attempt to secure national interests and, in some cases, to devote more resources to welfare. Experiments to date are modest, but could presage more significant change in the future

Item Type: Article
ISSNs: 0020-5850 (print)
Subjects: H Social Sciences > HB Economic Theory
J Political Science > JL Political institutions (America except United States)
J Political Science > JQ Political institutions Asia
Divisions: University Structure - Pre August 2011 > School of Social Sciences > Politics and International Relations
ePrint ID: 71196
Date Deposited: 26 Jan 2010
Last Modified: 27 Mar 2014 18:50
URI: http://eprints.soton.ac.uk/id/eprint/71196

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