NEOLIBERALISM REVISED - A CRITICAL ACCOUNT OF WORLD-BANK CONCEPTIONS OF GOOD GOVERNANCE AND MARKET FRIENDLY INTERVENTION

This article examines recent World Bank reports on the role of the sta te in the development process, with particular reference to the rise o f the East Asian newly industrializing countries and the crisis of ''g overnance'' in sub-Saharan Africa. The concepts of market friendly int ervention and good governance are critically discussed, and are found to be inadequate as explanations for East Asian ''success'' and Africa n ''failure.'' The author presents an alternative explanation for the rise of the newly industrializing countries, which draws out some of t he implications for the developing world.