Stiglitz: Alternatives to the Washington Consensus

Doug Henwood dhenwood at panix.com
Fri Oct 4 13:16:03 PDT 2002


Bradford DeLong wrote:


>>... the IMF ... It is also
>>rethinking the use of bail-outs, which have proved largely unsuccessful,
>
>What is he thinking of? "Bailouts" worked relatively well in Mexico,
>Brazil, Korea, Thailand, and--I would argue--made things less bad in
>Indonesia.

Malaysia did fine without one, and Korea recovered largely because it ignored the IMF's conditions.

Doug



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