The Washington Consensus: some Implications for Latin America

Many countries in Latin America undertook sweeping economic reforms in response to the debt crisis, which were fostered by multilateral agencies such as the IMF and were aligned with the guidelines offered by the Washington Consensus. However, and after more than 25 years of application, many results achieved under the said consensus in economic and social matters are contradictory; therefore, this document reviews some shortcomings of its design and considers certain recommendations of adjustment, particularly in taxation. The paper states that the lack of internal consistency of the model and the weakness of certain assumptions on which it was based, such as the alleged inefficiency of State, limited the fulfillment of its objectives.

• Tipo de recurso: http://purl.org/coar/resource_type/c_6664
• Fecha de publicación: 2017
• Institución: Universidad Pedagógica y Tecnológica de Colombia
• Repositorio: RiUPTC: Repositorio Institucional UPTC
• Idioma: spa
• OAI Identifier: oai:repositorio.uptc.edu.co:001/11946
• Acceso en línea: https://revistas.uptc.edu.co/index.php/cenes/article/view/4425; https://repositorio.uptc.edu.co/handle/001/11946
• Palabra clave: Washington Consensus; Latin America; economic reforms; tax reforms.; Consenso de Washington; América Latina; Reformas económicas; Reformas tributarias.
• License: Copyright (c) 2017 Víctor Mauricio Castañeda Rodríguez, Omar Díaz Bautista