Transcription of The Washington Consensus
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The Washington Consensus
Policy Research Working Paper5316 The Washington ConsensusAssessing a Damaged BrandNancy BirdsallAugusto de la TorreFelipe Valencia CaicedoThe World BankOffice of the Chief EconomistLatin America and the Caribbean Region &Center for Global DevelopmentMay 2010 WPS5316 Public Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedProduced by the Research Support TeamAbstractThe Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues.
Dependency Theory (Gunder Frank, 1967; Furtado, 1963; and Cardoso and Faletto, 1979), which interpreted the relation of the “periphery” (developing countries) to the “center” (rich countries) as one of debilitating dependency—i.e., a structural subordination of …
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