文档介绍：From Reform Agenda
A short history of the Washington Consensus and
suggestions for what to do next
John Williamson
HE STORY of the Washington Liberalization of interest rates. In retro-
Consensus dates back to 1989, spect, I wish I had formulated this more
when the press in the United broadly as financial liberalization, stressed
States was still talking about how that views differed on how fast it should be
TLatin American countries were unwilling to achieved, and recognized the importance of
undertake the reforms that might give them panying financial liberalization with
a chance to escape the debt crisis. It seemed prudential supervision.
to me that this was a misconception and petitive exchange rate. I fear I indulged
that, in fact, a sea change in attitudes toward in wishful thinking in asserting that there was
economic policy was occurring. To deter- aconsensus in favor of ensuring that the ex-
mine whether this was correct, the Institute change rate would petitive, which im-
for International Economics decided to con- plies an intermediate regime; in fact, Washington
vene a conference at which authors from 10 was already beginning to edge toward the
Latin American nations would present two-corner doctrine, which holds that a coun-
papers detailing what had been happening try must either fix firmly or float “cleanly.”
in their respe