I feel somewhat relaxed and freer since I resigned from the position of Vice Minister of Finance for International Affairs about a month ago. At least now I don’t have to worry about what I say about the yen/US dollar rate for the wire people who used to follow me all over the world. I would like to remind you that what I say today does not necessarily reflect the official views of the Japanese...

This paper discusses the Washington Consensus, its origins, and insights in terms of subsequent development experience a broad range countries. I continue to find that when properly interpreted as guide formulation country-specific strategies, Consensus has withstood test time quite well. In my view, experience, especially Asia, reveals number places where shift emphasis would be warranted. Fin...

Ð The introduction of the Washington Consensus involved not simply a swing from state-led to market-oriented policies, but also a shift in the ways in which development problems were framed and in the types of explanation through which policies were justi®ed. Key changes were the partial globalization of development policy analysis, and a shift from historicism to ahistorical performance assess...

Joe has undoubtedly become a leading figure among those, including myself and all of us at this table, who question these two principles. A main difficulty for us is that while departing from the overly simplistic view of growth and development put forward by the strongest advocates of the Consensus, we still believe: (i) in the universal role of some institutions or policies (property right pr...

Education is receiving ever-increasing priority in the post-Washington consensus era, which views education as both a means to and end of development. Despite the broader objectives of the post-Washington consensus, justification for the attention given to education continues to be centrally focused on the notion of human capital which considers education primarily in relation to its role in pr...