ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Increasing trade with secular and liberal countries
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Interest rate liberalisation
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Deregulation
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Restrict foreign direct investments
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Detailed explanation-1: -Some of the key policy reforms of the Washington Consensus/SAP period of the 1980s and 1990s included privatization, fiscal discipline, and trade openness, that were introduced by IFIs as conditions for debt relief to highly indebted, economically constrained African countries.
Detailed explanation-2: -The Washington Consensus as formulated by Williamson includes provision for the redirection of public spending from subsidies ("especially indiscriminate subsidies") toward broad-based provision of key pro-growth, pro-poor services like primary education, primary health care and infrastructure investment.
Detailed explanation-3: -The three main ideas presented in the Washington Consensus are macroeconomic discipline, the development and promotion of a market economy, and a general degree of openness to the world.
Detailed explanation-4: -Trade liberalization, increased Foreign Direct Investment, privatization-state enterprises should be privatized, reduce the role of the state.