Title page
Contents
ABSTRACT 7
Ⅰ. Introduction 11
A. Purpose of the Study 11
B. Scope and Method of the Study 14
Ⅱ. The Washington Consensus and Development Economics 16
A. Backgrounds of the Washington Consensus 16
B. Paradigm Shift of Development Economics 19
1. The Concept of Development Economics 19
2. Structuralism (Keynesianism): World WarⅡ ~ 1960s 21
3. Neoclassicalism (Neoliberalism): 1970s ~ 1980s 22
4. New Institutionalism: 1990s ~ the Present 23
Ⅲ. Enlargement Process of the Washington Consensus 25
A. International Financial Market in the Post Bretton Woods System 26
B. Motivating Events : Latin America and the Former Soviet Union 27
C. Set-Up of U.S. Strategy toward the Post Cold War 30
Ⅳ. Critiques on the Washington Consensus 33
A. Internal Challenges 33
1. Failure of the Washington Consensus Policy : Example of Latin America 33
2. Self-Criticism on the Washington Consensus 37
B. External Challenges 38
1. Success of East Asia Development Model 38
2. Criticism on East Asia Financial Crisis 40
3. High Growth of China and Advent of the Beijing Consensus 42
4. Global Civil Movement against Neoliberalism 44
Ⅴ. Issues and Problems to be Tackled 46
A. The Post Washington Consensus Underway 46
1. from the Washington Consensus to the Post Washington Consensus 46
2. Key Elements of the Post Washington Consensus 48
3. Limits of the Post Washington Consensus 52
B. Assessment of the Beijing Consensus as a Development Model 57
C. Alternative Approach for Development 59
Ⅵ. Conclusion 63
BIBLIOGRAPHY 66
〈Table 1. List of the Washington Consensus 10 Prescriptions〉 17
〈Table 2. Evolution Process of Capitalism, Economics and Development Economics〉 20
〈Table 3. Growth Rate Trend of Latin America〉 34
〈Table 4. Yearly Growth Rate of Latin America〉 35