The Asian crisis provides heterodox economists with the opportunity to investigate counterfactually whether the financial policies they have proposed would have averted the crisis. The paper argues that neo-liberal financial integration introduces distinct risks to emerging economies--currency,...

The criterion of "policy credibility" is invoked with increasing frequency today by new-classical development economists in debates over economic and institutional reform in developing and transitional countries. The paper argues that the credibility criterion is used to privilege neoliberal...

The response by the International Monetary Fund (IMF) (and developing country national governments) to the current global financial crisis represents a moment of what I term 'productive incoherence', which has displaced the constraining 'neoliberal coherence' of the past several decades....