Neo liberalism revised? A critical account of World Bank concepts of good governance and market friendly intervention

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Abstract
This article examines recent World Bank reports on the role of the state in the development process, with particular reference to the rise of the East Asian NICs and the crisis of ‘governance’ in sub-Saharan Africa. The concepts of market friendly intervention and good governance are critically discussed, and are found to be inadequate as explanations for East Asian ‘success' and African ‘failure’. An alternative explanation for the rise of the NICs is presented, which draws out some of the implications for the developing world.