Legal security for property rights. Origins of policy agenda[ edit ] Although Williamson's label of the Washington Consensus draws attention to the role of the Washington-based agencies in promoting the above agenda, a number of authors have stressed that Latin American policy-makers arrived at their own packages of policy reforms primarily based on their own analysis of their countries' situations. Thus, according to Joseph Stanislaw and Daniel Yerginauthors of The Commanding Heightsthe policy prescriptions described in the Washington Consensus were "developed in Latin America, by Latin Americans, in response to what was happening both within and outside the region. Audiences the world over seem to believe that this signifies a set of neoliberal policies that have been imposed on hapless countries by the Washington-based international financial institutions and have led them to crisis and misery.
Austerity as ideological opportunity As prominent economist Ha Joon Chang has written many times, the UK's problems go far deeper than the cuts agenda. British debate on economic policy is getting nowhere. The coalition government keeps repeating that it has to cut spending in order to cut deficits, no matter what.
The opposition has been at pains to explain … that trying to cut deficits by cutting spending in a stagnant economy is a largely self-defeating exercise, as it reduces growth and thus tax revenue.
It is sticking to its plan A because spending cuts are not about deficits but about rolling back the welfare state. So no amount of evidence is going to change its position on cuts. Ha Joon Chang, Britain: Or maybe put another way, it has typically worked for the elite looking to maintain a system from which they benefit.
And as manufacturing shows mixed signals, luxury goods show a general healthy sign and exports of raw resources are doing better than finished manufacturing products, these all hint to growing inequality and potential growing poverty and stagnation. Or as Chang puts it, putting all this in context, since the crisis the British economy has been moving backwards in terms of its sophistication as a producer.
In the middle ofthe United Nations also warned that the problems in European were bad not just for Europe, but for the world economy too. The policy of austerity was criticized by the UN as heading in the. The fiscal austerity programs implemented in several European countries are ineffective to help the economy emerge from crisis, it said, according to Inter Press Service.
A few are now suggesting that some European countries may be facing a lost decade or a lost youth generation. A Nobel laureate in economics, Joseph Stiglitz, writes, It will take 10 years or more to recover the losses incurred in this austerity process.
The problem is that the prescriptions imposed are leading to massive under-utilisation of these resources. Whatever Europe's problem, a response that entails waste on this scale cannot be the solution. Given … recent [reform] changes in the IMF, it is ironic to see the European governments inflicting an old-IMF-style program on their own populations.
It is one thing to tell the citizens of some faraway country to go to hell but it is another to do the same to your own citizens, who are supposedly your ultimate sovereigns.
Indeed, the European governments are out-IMF-ing the IMF in its austerity drive so much that now the fund itself frequently issues the warning that Europe is going too far, too fast. Democracy is neutered in the process and the protests against the cuts are dismissed.
The description of the externally imposed Greek and Italian governments as technocratic is the ultimate proof of the attempt to make the radical rewriting of the social contract more acceptable by pretending that it isn't really a political change.Regional Income Redistribution and Risk-sharing in Argentina: Lessons from a developing country Walter Cont Alberto Porto Pedro Juarros FIEL / UNLP UNLP UNLP-UdeSA Abstract This paper estimates redistribution and risk-sharing across provinces in Argentina during as a result of the national budget and intergovernmental transfers.
Chile was the first country in the world to implement a comprehensive reform of its electricity sector in the recent period.
Among developing countries only Argentina has had a comparably comprehensive and successful reform. This paper traces the history of the Chilean reform, which began in , and assesses its progress and its lessons.
Download Citation on ResearchGate | Evaluating electricity sector reforms in Argentina: lessons for developing countries? | In Argentina, prior to the macroeconomic crisis of early , power. Downloadable! Argentina was one of the first countries in the world to implement a comprehensive reform of its electricity sector in the recent period.
Among developing countries only Chile has had a comparably comprehensive and successful reform. This paper traces the history of the Argentine reform, which began in , and assesses its progress and its lessons.
MOTA, R. Essays on The Impact of Electricity Sector Reforms in Developing Countries. PhD, University of Cambridge. NAGAYAMA, H. Effects of regulatory reforms in the electricity supply industry on electricity prices in developing countries.
Energy Policy, 35, NAGAYAMA, H. . Among developing countries only Argentina has had a comparably comprehensive and successful reform. This paper traces the history of the Chilean reform, which began in , and assesses its progress and its lessons.