Towards a New Consensus
Many developing nations are now deviating from the much discredited “Washington Consensus” of economic policy reforms. In collaboration with India-based Research and Information Systems for Developing Countries (RIS) and the Research Center for Economic Change (CENIT) in Argentina, GDAE is bringing together prominent policy-makers, economists, and members of civil society to articulate a new consensus on globalization and development policy to frame an alternative to the Washington Consensus.
The project was launched with a panel presentation at the Public Forum organized by the World Trade Organization in September 2008. The panel included GDAE's Kevin Gallagher, RIS's Nagesh Kumar, Faizel Ismael, South Africa's ambassador to the WTO, and Mehdi Shafaeddin of the Swiss Institute for Economic Research.
GDAE’s longtime collaborating institute, Research and Information Systems for Developing Countries (RIS), hosted a conference GDAE co-sponsored on “Financial Crisis, Global Economic Governance and Development: Responses of Asia and the Global South” in India February 6-7, 2009. The conference brought together government representatives, academics, and non-governmental groups to assess the policy implications of the financial crisis for developing countries. Opened by India’s acting Prime Minister, the conference sought to move beyond the constraints of the so-called Washington Consensus to formulate a new set of principles more favorable to development. Timothy A. Wise, GDAE’s Director of Research and Policy, presented “The Limited Promise of Agricultural Trade Liberalization: Beyond the Washington Consensus,” based on his research for the report, The Promise and Perils of Agricultural Trade Liberalization.
A report on the conference can be downloaded: http://www.ase.tufts.edu/gdae/Pubs/rp/RISConfRepFeb09.pdf
The conference web site (listed under “Recent Events” on the RIS web site) includes the presentations at the conference: http://www.ris.org.in/
The conference was widely covered in the regional press. Read some of the clippings:
Research Papers from the New Consensus Project:
Kevin P. Gallagher and Mehdi Shafaeddin, “Policies for Industrial Learning in China and Mexico”
Timothy A. Wise, “The Limited Promise of Agricultural Trade Liberalization”
Andrés López and Eugenia Orlicki, “Who Uses the Patent System in Developing Countries? A Study of Patent Propensities in Argentina, 1992-2001”
Previous papers released for the project include:
Nagesh Kumar, “South-South and Triangular Cooperation in Asia-Pacific: Towards a New Paradigm in Development Cooperation”
Faizel Ismail, “Rediscovering the Role of Developing Countries in GATT Before the WTO”
Ramgopal Agarwala, “Reforming the Bretton Woods System for Inclusive Development and Democratic Global Governance”
Foreign Investment and Sustainable Development: Lessons from the Americas -- The developmental impact of foreign direct investment (FDI) is a focus of this project. The GDAE-sponsored Working Group on Development and Environment in the Americas took up the issue of FDI in the Americas in a widely circulated report, "Foreign Investment and Sustainable Development: Lessons from the Americas." The Spanish edition of the report was presented in Costa Rica, Argentina, and Uruguay, and the Portuguese version was launched in Brazil. A book with the original papers commissioned for the project, in English, was published in 2009 by Anthem Press. The papers, reports, and link to the book are available online at:
For more on GDAE’s Globalization and Sustainable Development Program: