Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s–2000s
通过构建包含资本品和中间品的模型，使用新的细分关税数据，采用双重差分法分析发现，降低资本品和中间品进口关税能促进发展中国家增长，支持了华盛顿共识。
Abstract According to the Washington Consensus, developing countries' growth would benefit from reductions in barriers to trade. However, the empirical basis for judging trade reforms is weak. Econometrics are mostly ad hoc, results are typically not judged against models, policies are poorly measured, and most studies are based on pre-1990 experience. We address these concerns by employing a model with capital and intermediate goods, compiling new disaggregated tariff measures, and employing treatment and control regression analysis with differences-in-differences. We find that a specific treatment, liberalizing tariffs on imported capital and intermediate goods, led to faster growth, consistent with the model.