China and India have each followed different development paths. The policy settings that have provided the context for each country’s development have also differed considerably from each other and from those of the Washington Consensus -- the name for the policies imposed by the International Monetary Fund and the World Bank on countries that require their assistance.
The development paths and policy settings of China and India shine an uncomfortable spotlight on the Washington Consensus policies. The paper concludes that an entirely new approach is needed to the development of poorer nations.
Law and Economics
Date of this Version
Ross P. Buckley, "The Economic Policies of China, India and the Washington Consensus: An Enlightening Comparison" (June 2009). University of New South Wales Faculty of Law Research Series 2009. Working Paper 22.