All of the following policy recommendations were part of the Washington Consensus except

Question

Quizplus · Accepted Answer

The Washington Consensus advocated for free-market policies centered around trade liberalization, privatization, and the securing of property rights. However, the policy of import-substitution industrialization (ISI) was not part of the Washington Consensus. ISI was a development strategy used by some countries in the Global South during the mid-twentieth century, which involved developing domestic industries to replace imports. The Washington Consensus favored a more market-oriented approach, promoting exports and open trade.

All of the Following Policy Recommendations Were Part of the Washington