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Washington Consensus

The John Williamson was develop the idea of Washington Consensus. As originally he hasn't formulated this for policy prescription for development. However, this gave great policy departure for contemporary development landscape. He has prescribed policy or trinity strategy for economy in transition. He gave emphasized on privatization, liberalization and stabilization.
The Writer ignore limitation of privatization liberalization and stabilization such as information asymmetry, highly affect by externalities, power resource base, role of private sector on social development has been limited etc. In my opinion, this policy have useful for Latin American countries like Argentina but not so useful for South Asian counties like Nepal. I think for Nepal that type of policy will be work which more focuses on the area of comparative advantage with the cooperation and partnership between public and private sector that compatible in our social and cultural dynamics.
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