Amina El Refai What was the Washington Consensus? How did it affect developing countries? The Washington Consensus is a set of ten points outlined by John Williamson summarising policy advice from Washington-based institutions to Latin America after the 1980’s debt crisis. It was right wing policy advice to correct failures of prior approaches to development. […]
Imogen Braddick You only have to look at the case of East Asia to realise that every development path is highly context specific and there is no set agenda for any country, government or society. State-led development paved the way for much of East Asia’s rapid growth and development (East Asian Miracle: a myth or […]
Emily Griffith The end of World War II saw the beginning of African decolonization and independence from European colonizers. It promised to be an era of autonomous development for African nations. However, the burden of colonial history and institutions, the polarized climate of the Cold War, and an increasingly globalized world economy, led to the […]
Imogen Braddick Considering the huge policy variations across East Asian economies, can the East Asian Miracle truly be generalised as a “miracle”? Korea and Taiwan were both colonised by Japan and left with similar legacies; how can we call the phenomenon an “East Asian” miracle when Japan’s legacy created the foundations for growth?
Athena Zabidi In order to analyse the effects of China’s policy choices, we must consider the effectiveness of expansionary monetary and fiscal policy. Currently, China operates on a fixed exchange rate system, with strict capital controls. Chinese policymakers have significantly undervalued the Yuan against the US dollar, leading to a huge balance of payments surplus […]