... on the policy agenda of emerging market economies. At the very least, sequencing is now seen to be important and capital liberalisation should only follow the establishment of sound supervisory banking procedures and legal infrastructure. At the national level we may be seeing a trend away from automatic pilot' types of market strategy towards more active policies of the types enshrined ... Washington consensus' poses questions concerning the construction of a successor' to the previous consensus and the role it will play in informing future development policy. Moreover, sooner or later...

• Word Count: 9082
• Approx Pages: 36
• Grade Level: Undergraduate

... inflation. Two basic modes of thought on the subject have pervaded public policy since World War II: supply-side and demand-side economics. Demand-side economics is generally known as Keynesianism, named after the English economist John Maynard Keynes. He believed that governments should force interest rates down ... 14 percent a year. Reagan and his advisors took a conservative approach to solving the problem and looked to supply-side, or trickle down' economics to accomplish their goal of bringing the country out of this recession and stimulating new growth. The economic policy of thi...

• Word Count: 1294
• Approx Pages: 5
• Grade Level: Undergraduate

... to their advantage. Economic credibility, low inflation and lower interest rates were obvious attractions of a currency board for Argentina. However, currency boards may prove limiting, especially for countries with weak banking systems or prone to economic shocks, both of which are scenarios that as we will see, affected Argentina in the late 1990s. With a currency board, the country is unable to ... external economic factors had on the Argentinean economy that this relationship was stretched to such a level that the Argentinean government was obliged to default. BIBLIOGRAPHY Begg, D. ...

• Word Count: 1586
• Approx Pages: 6
• Has Bibliography
• Grade Level: Undergraduate