Date of Award


Document Type

Masters Thesis

Degree Name


Organizational Unit

College of Arts Humanities and Social Sciences, Economics

First Advisor

Yavuz Yaşar

Second Advisor

Rafael R. Ioris

Third Advisor

Robert Urquhart

Fourth Advisor

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.

Publication Statement

Copyright is held by the author. User is responsible for all copyright compliance.

Rights Holder

Anthony N. Iacovelli


Received from ProQuest

File Format




File Size

120 pgs


Economics, Economic history