The ‘Washington consensus’ and ‘shock therapy’ approach to transition economies ignored the Keynesian lessons from the Great Depression: that market instability is a possibility and there may be an active role of government in managing stability and growth. The severe output decline in...

As is the case with several other developing countries which grew rapidly in the 1980s and 1990s, Thailand was largely influenced by neoliberalism. This essay discusses neoliberalism, its influence on Thailand, and the role that neoliberalism played in the subsequent Asian financial crisis....

The quot;Washington consensusquot; and quot;shock therapyquot; approach to transition economies ignored the Keynesian lessons from the Great Depression: that market instability is a possibility and there may be an active role of government in managing stability and growth. The severe output...

The global economic downturn has heightened concerns about intervention by global financial institutions and the maintenance of political stability. At least one, prominently-published article purports to show that signing on to an IMF structural adjustment program (SAP) increases the risk of...