25. Describe the development policy of “import-substituting industrialization”. What are its goals and policy tools?
= removing colonial structural dependence as resource providers and markets for processed goods
= central role for the state as provider of infrastructural development and social services, compensating for lack of capital etc
= centrality of industrialization
= growth is the goal of development
Le Brésil de 1930 à 1980, qui est le seul pays à avoir accompli les cinq phases.
De nombreux pays d'Amérique latine dans les années 1970 comme l'Argentine, le Mexique, le Chili, le Venezuela, l'Uruguay ou encore le Pérou.
Le Sénégal.
26. Describe the development policy of the “Washington Consensus”. What are its goals and policy tools?
ASSUMPTION: markets are more efficient:
= reducing the role of the state, increasing the role of the market (minimal government)
= deregulation
= trade liberalization
= privatization of state owned enterprises
= withdrawal of subsidies (benefit given by the government to groups or individuals, usually in the form of a cash payment or a tax reduction)
= currency devaluation
= fiscal discipline (cutting public expenditure)
27. Describe the development policy of the “post-Washington Consensus”. What are its goals and policy tools?
= poverty reduction at the center
- states must prepare poverty reduction strategy papers (PRSP)
- UN's millenium development goal
= continued reliance on the market, but more emphasis on the role of strong state and other institutions that can support and correct the market (minimal = good government)
= structural transformation is still not a priority
= good growth performance and services getting stronger but :
- primarily propelled by high commodity prices
- declining role of agriculture
- further de-industrialization
- the only region in the world where poverty rises between 1980 and 2010
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