Chapter 4 Overview of the Third Wave of Institutional Reforms Since 1997: Government as a Facilitator of Good Governance

Abstract

A confluence of several factors influenced donors’ decision to launch a new wave of institutional reforms that, on the surface, appeared to be the opposite of what the second wave of reforms were about. One of the main contributors to this shift was the increasing amount of evidence pointing to the limits of relying purely on market policies. Contrary to donors’ prescriptions, not all the countries that followed the “Washington Consensus” prospered as a result of the reforms. If anything, the Asian crisis, the experiences of transition from command to market economy, and situations in much of the poorest regions of the world provided examples of the human costs of neglecting the proper role of public sector institutions.²

Citation

Baimyrzaeva, M. (2012), "Chapter 4 Overview of the Third Wave of Institutional Reforms Since 1997: Government as a Facilitator of Good Governance", Baimyrzaeva, M. (Ed.) Institutional Reforms in the Public Sector: What Did We Learn? (Research in Public Policy Analysis and Management, Vol. 22), Emerald Group Publishing Limited, Leeds, pp. 51-77. https://doi.org/10.1108/S0732-1317(2012)0000022006