Acknowledgements
Notes on the Contributors
Abbreviations
Preface by Alicia Bacena
1 The Need for Visions on the Economy: By Way of Introduction - 1

Part I
The Washington Consensus: What is Right and What is Wrong?
2 Serious Inadequacies of the Washington Consensus: Misunderstanding the Poor
by the Brightest - 9
3 The Dogmatism of the Washington Consensus - 44
4 The Need for a More Flexible Approach to Development - 53
5 Globalisation and the Development Agenda - 61
6 Improving Rather than Abandoning Reforms - 87
7 The Widening and Deepening of Democratic Development - 90
8 Reforming the Reforms of the Washington Consensus - 100
9 Right Prices for Interest and Exchange Rates - 116

Part II
Financial Stability at the National, Regional and Global Level:Governance,
Markets and Institutions
10 Financial Instability in Emerging Market Countries:Causes and Remedies - 125
11 Competent Institutions and Selective Globalisation - 145
12 In Search of a New East Asian Development Paradigm:Governance, Markets and
Institutions - 150
13 Path-Dependent Reforms of the East Asian Development Model - 170
14 East Asian Cooperation, Social Policies and the WTO - 174
15 The Search for a Stable and Equitable Global Financial System - 181
16 Global Crisis Prevention and Liquidity Provision - 208

Part III
Towards a New Development Agenda
17 Africa and the Washington Consensus - 215
18 The Potential of the Doha Development Agenda - 223
19 A Development and Research Agenda for the Poorest Countries - 232