Emergence of new state forms

Question 1

What was the Washington consensus?

Answer 1

It refers to a set of free market economic policies supported by prominant financial institutions such as the IMF, the WB and the US treasury

Question 2

What has globalisation increased between countries?

Answer 2

It has increased the flows of capital betwen countries, including more FDI as there are less restrictions on financial investment by private companies

Question 3

What has les restrictions on financial investment led to?

Answer 3

It has led to some companies relocating to countries with low tax rates. These countries are known as tax havens