The 3 sources for economic growth in the Washington Consensus therefore translate into what policy recommendations?

1. Fiscal discipline: This suggests governments should manage their budgets responsibly and maintain a low level of public debt. Fiscal discipline means that government expenditures should be kept within the limits of available revenue, tax rates should be kept at levels that encourage economic growth, and the overall tax burden should be lightened. 2. Trade liberalization: This calls for the removal of barriers to international trade, providing access to foreign markets and encouraging competition. It also suggests that governments should promote trade by reducing or eliminating import/export taxes, quotas and other forms of protectionism. 3. Liberalization of capital markets: This involves allowing businesses to more easily access both domestic and foreign sources of capital, removing restrictions on foreign investment and allowing private capital flows to move freely into and out of the country. This would thus increase the availability of capital, making it easier for businesses to expand and create jobs.