The purpose of this research was to determine the efficacy of the International Monetary Fund’s Stabilization Program (IMFSP) as a tool for economic development. The Fund’s program utilizes an approach steeped in the Washington Conesus, which requires austere and demand side economic measures to be taken to achieve success. To determine efficacy, Jamaica was used as a case study, where special attention paid to the supply side economic consideration of human capital development in Health and Education. Additionally, this paper contrasted the IMF approach with a case study of Singapore and the Developmentalist approach to economic development. The research provided a clear picture that the IMFSP did stabilize the Jamaica economy. However, it did so at the expense of stunting human capital development in Jamaica. Therefore, a different approach is required to bring lasting economic development.
","abstract_html":"<p>The purpose of this research was to determine the efficacy of the International Monetary Fund’s Stabilization Program (IMFSP) as a tool for economic development. The Fund’s program utilizes an approach steeped in the Washington Conesus, which requires austere and demand side economic measures to be taken to achieve success. To determine efficacy, Jamaica was used as a case study, where special attention paid to the supply side economic consideration of human capital development in Health and Education. Additionally, this paper contrasted the IMF approach with a case study of Singapore and the Developmentalist approach to economic development. The research provided a clear picture that the IMFSP did stabilize the Jamaica economy. However, it did so at the expense of stunting human capital development in Jamaica. Therefore, a different approach is required to bring lasting economic development.</p>","abstract_has_math":false,"creators":["Iacovelli, Anthony N."],"institution":null,"degree_name":"M.A.","degree_level":"Masters Thesis","degree_discipline":null,"degree_department":null,"school":null,"contributors":["Yavuz Yaşar","Rafael R. Ioris","Robert Urquhart","Peter Sai-Wing Ho"],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2021,"date_issued":"2021-01-01T08:00:00Z","date_published":"2021-01-01T08:00:00Z","updated_at":"2026-07-24T02:03:35Z","subjects":["Developmentalism","Economic development","International monetary fund","Jamaica","Singapore","Washington consensus","Economic History","Economics","Growth and Development","International Economics","Social and Behavioral Sciences"],"languages":["en"],"rights":["Copyright is held by the author. User is responsible for all copyright compliance.
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"],"dc:subject":["Developmentalism","Economic development","International monetary fund","Jamaica","Singapore","Washington consensus","Economic History","Economics","Growth and Development","International Economics","Social and Behavioral Sciences"],"dc:title":["The Great Consensus After the Great Recession: The Case of Jamaica"],"thesis:degree_level":["Masters Thesis"],"thesis:degree_name":["M.A."]},"updated_at":"2026-07-24T02:03:35Z"}