(Post) Washington Consensus and Monetary Policy in Latin America: Changes and Continuities after the Crises
Sprache des Vortragstitels:
Englisch
Original Tagungtitel:
Rethinking Capitalist Governance after the Crises
Sprache des Tagungstitel:
Englisch
Original Kurzfassung:
Differences and similarities between the monetary governance advocated by the original and the Post Washington Consensus are presented. It becomes clear, that even after the last crisis the guiding neoliberal tenets and the pre-crisis policy framework are kept in place. Moreover, the changes in monetary policy ? from fixed exchange rate regimes to exchange rate flexibility, from monetarism to inflation targeting ? enhance the power of independent central banks. The monetary and central banking reforms signal a shift towards a regulatory state underpinned by a new economic constitutionalism.
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