Trade and Development Report 2006

Global Partnership and National Policies for Development

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Since 2002, world economic expansion has had a strong positive impact on growth and helped support progress towards the United Nations Millennium Development Goals. Most developing countries have benefited from this growth momentum as a result of strong demand for their exports of primary commodities and, to an increasing extent, of manufactures. However, global economic imbalances continue to pose a risk to the outlook of the world economy. Much depends on the ability of developing countries to adopt more proactive policies in support of capital formation, structural change and technological upgrading, and on the latitude available to them in light of international rules and disciplines. The Trade and Development Report 2006 offers relevant ideas and general principles for designing macroeconomic, sectoral and trade policies that can help developing countries to succeed in today’s global economic environment.



Evolving development strategies - Beyond the Monterrey Consensus

Policy reforms undertaken by developing countries in the 1980s and 1990s were strongly influenced by the international financial institutions, which emphasized stabilization and liberalization. Through their lending activities and political support from the major industrialized countries, the International Monetary Fund (IMF) and the World Bank were able to exercise considerable leverage on the design and implementation of developing countries’ macroeconomic and development policies. The new policy agenda, which came to be labelled the “Washington Consensus”, evolved over time, incorporating additional elements in response to the disappointing outcomes of reform programmes and to criticism that emanated from the international policy debate.


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