Date of Award
Rafael R. Ioris
Peter Sai-Wing Ho
Developmentalism, Economic development, International monetary fund, Jamaica, Singapore, Washington consensus
The purpose of this research was to determine the efficacy of the International Monetary Fund’s Stabilization Program (IMFSP) as a tool for economic development. The Fund’s program utilizes an approach steeped in the Washington Conesus, which requires austere and demand side economic measures to be taken to achieve success. To determine efficacy, Jamaica was used as a case study, where special attention paid to the supply side economic consideration of human capital development in Health and Education. Additionally, this paper contrasted the IMF approach with a case study of Singapore and the Developmentalist approach to economic development. The research provided a clear picture that the IMFSP did stabilize the Jamaica economy. However, it did so at the expense of stunting human capital development in Jamaica. Therefore, a different approach is required to bring lasting economic development.
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Iacovelli, Anthony N., "The Great Consensus After the Great Recession: The Case of Jamaica" (2021). Electronic Theses and Dissertations. 1939.
Received from ProQuest
Anthony N. Iacovelli
Economics, Economic history