This chapter aims to set out what would be regarded in Washington as constituting a desirable set of economic policy reforms. It identifies and discusses ten policy instruments about whose proper deployment Washington can muster a reasonable degree of consensus. The policy…
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Political science · Public administration
# What Washington Means by Policy Reform
> OpenAlex Metadata Hub · https://openalex.org/W2996085990
## Bibliographic
- **DOI:** 10.4324/9780429498893-4
- **Year:** 2018
- **Citations:** 1793
- **Open Access:** No (closed)
- **License:** —
- **Source:** https://doi.org/10.4324/9780429498893-4
## Authors
- John Williamson
## Abstract
This chapter aims to set out what would be regarded in Washington as constituting a desirable set of economic policy reforms. It identifies and discusses ten policy instruments about whose proper deployment Washington can muster a reasonable degree of consensus. The policy instruments include fiscal deficits, public expenditure priorities, tax reform, interest rates, exchange rates, trade policy, foreign direct investment, privatization, deregulation, and property rights. When a fiscal deficit needs to be cut, there are three major expenditure categories on which views are strongly held: subsidies, education and health, and public investment. There is very broad agreement in Washington that large and sustained fiscal deficits are a primary source of macroeconomic dislocation in the forms of inflation, payments deficits, and capital flight. The economic policies that Washington urges on the rest of the world may be summarized as prudent macroeconomic policies, outward orientation, and free-market capitalism.
## Keywords
Political science, Public administration
## Concepts
- Political science
- Public administration
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*Metadata only — full text not imported unless Open Access license permits.*
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Tóm lược học thuật (đã diễn giải): This chapter aims to set out what would be regarded in Washington as constituting a desirable set of economic policy reforms. It identifies and discusses ten policy instruments about whose proper deployment Washington can muster a reasonable degree of consensus. The policy instruments include fiscal deficits, public expenditure priorities, tax reform, interest rates, exchange rates, trade policy, foreign direct investment, privatization, deregulation, and property rights. When a fiscal deficit needs to be cut, there are three major expenditure categories on which views are strongly held: subsidies, education and health, and public investment. There is very broad agreement in Washington that large and sustained fiscal deficits are a primary source of macroeconomic dislocation in the forms of inflation, payments deficits, and capital flight. The economic policies that Washington urges on t…
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1. This chapter aims to set out what would be regarded in Washington as constituting a desirable set of economic policy reforms.
2. It identifies and discusses ten policy instruments about whose proper deployment Washington can muster a reasonable degree of consensus.
3. The policy instruments include fiscal deficits, public expenditure priorities, tax reform, interest rates, exchange rates, trade policy, foreign direct investment, privatization, deregulation, and property rights.
4. When a fiscal deficit needs to be cut, there are three major expenditure categories on which views are strongly held: subsidies, education and health, and public investment.
5. There is very broad agreement in Washington that large and sustained fiscal deficits are a primary source of macroeconomic dislocation in the forms of inflation, payments deficits, and capital flight.
6. The economic policies that Washington urges on the rest of the world may be summarized as prudent macroeconomic policies, outward orientation, and free-market capitalism.
Trader nên nối luận điểm policy/lãi suất trong tài liệu với bias trung hạn của USD và các cặp major — đặc biệt quanh FOMC / dữ liệu CPI.
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Đọc tài liệu theo góc macro cycle: tăng trưởng / recession narrative ảnh hưởng risk-on/off và correlation giữa equities, USD và vàng.
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