Title:
Washington Consensus or BeST Consensus? Which Path Forward for Sustained Economic Growth?
Washington Consensus or BeST Consensus? Which Path Forward for Sustained Economic Growth?
| dc.contributor.author | Lee, Keun | |
| dc.contributor.author | Mathews, John A. | |
| dc.contributor.corporatename | Seoul National University | |
| dc.contributor.corporatename | Macquarie Graduate School of Management | |
| dc.date.accessioned | 2010-09-27T14:32:15Z | |
| dc.date.available | 2010-09-27T14:32:15Z | |
| dc.date.issued | 2008-09 | |
| dc.description | Presented at the GLOBELICS 6th International Conference 2008 22-24 September, Mexico City, Mexico. | en_US |
| dc.description | Plenary 1: Redefining development goals: Science, Technology and Innovation, sustainable growth, improvement of income distribution and social welfare | |
| dc.description.abstract | While the set of liberalizing and fiscally conservative development precepts dubbed the 'Washington Consensus' are now discredited as a tool for development in the global periphery, there is as yet no widely adopted or accepted alternative other than references to the 'East Asian model'. In this paper we distil the essence of the experience of East Asia - of Japan initially and then of Korea and Taiwan and now of China - in a set of precepts that we suggest underpin the actual policies and strategies pursued with success by these East Asian economies. In the spirit of proposing an alternative to the Washington Consensus, we suggest that these precepts - pragmatic and known to work - be dubbed a Beijing-Seoul- Tokyo Consensus. The essence of this BeST Consensus is its focus on capability building, on dynamic transitions from one stage to the next, and on building an institutional platform to capture latecomer effects. We outline what the elements of this BeST Consensus might be (in ten points, as contrasted with the WC) and then discuss why it is that they appear to work so well, and whether they can still be applied in the world politics of 21st century conditions. | en_US |
| dc.identifier.uri | http://hdl.handle.net/1853/34903 | |
| dc.language.iso | en_US | en_US |
| dc.publisher | Georgia Institute of Technology | en_US |
| dc.relation.ispartofseries | GLOBELICS06. Plenary 1 | en_US |
| dc.subject | Developing countries | en_US |
| dc.subject | Developed countries | en_US |
| dc.subject | Critical agents | en_US |
| dc.title | Washington Consensus or BeST Consensus? Which Path Forward for Sustained Economic Growth? | en_US |
| dc.type | Text | |
| dc.type.genre | Proceedings | |
| dspace.entity.type | Publication | |
| local.contributor.corporatename | School of Public Policy | |
| local.contributor.corporatename | Ivan Allen College of Liberal Arts | |
| local.relation.ispartofseries | Globelics Conference | |
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