Which is NOT part of the Washington Consensus?
Export subsidies
The Washington Consensus (coined by John Williamson in 1989) is a set of ten policy prescriptions for developing economies favoured by Washington-based institutions (IMF, World Bank, US Treasury). It includes: fiscal discipline, redirecting public spending toward pro-growth and pro-poor sectors, tax reform, market-determined interest rates, competitive exchange rates, trade liberalisation, openness to FDI, privatisation, deregulation and secure property rights.
The Consensus emphasises removing distortions to free trade. Subsidising exports is the opposite of free-trade neutrality and is therefore not part of the Washington Consensus.
Hence the answer is Export subsidies — option (3).
Similar Questions
The relation between the consumer’s optimal choice of the quantity of a good and its price is very important and this relation is called the ________ function.
Which of the following comes under the Quarternary sector?
Private ownership of the means of production is a feature of a _______ economy.
In ________ economies, all productive resources are owned and controlled by the government.
Fisher’s quantity theory is explained by his famous equation given as ________.
In the Industrial Policy Resolution of 1948, which of the following was NOT the monopoly of the Central Government?
If the government revenue expenditure exceeds revenue receipt, It is called:
M2, is one of the measures of money supply. M2 is the sum of M1+ ______.
A situation where the expenditure of the government exceeds its revenue is known as _____.
Who among the following economist coined the terminology 'Hindu Rate of Growth'?
Important Questions from Economy
When goods are produced by exploiting natural resources, it is an activity associated with:
A system in which local farmers were allowed to cultivate temporarily within a plantation is known as:
Which goods from India dominated the international textile markets before the age of mechanized industries?
Which type of farming is practiced in areas of high population pressure on land?
The major economic attribute for comparing countries is their:
