- Fiscal discipline.
- Redirect spending priorities from things like indiscriminate subsidies to basic health and education.
- Lower marginal tax rates and broaden the tax base.
- Interest rate liberalization.
- A competitive exchange rate.
- Trade liberalization.
- Liberalization of FDI inflows.
- Privatization.
- Deregulation, in the sense of abolishing barriers to entry and exit.
- Secure property rights.
Tuesday, January 27, 2004
The Washington Consensus, circa 1989:
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