Brazil's economic success: between the classic and the new developmental state models

In the aftermath of the Asian financial crisis, developing countries began questioning the neo-liberal development paradigm embedded in the so-called ‘Washington Consensus’ sponsored by international financial institutions such as the World Bank and the International Monetary Fund (IMF). The debate was reopened to discuss not only about which economic model was most suitable to promote development but also the role of the government and law in the development process.