ABSTRACT
This chapter aims to develop a concise institutional approach as an alternative scheme and recommendations for international development based on the institutionalist tradition. It presents the original Washington Consensus; and analyzes the After the Washington Consensus and its relationship with the original Washington Consensus. The chapter also aims to develop the institutional approach to international development by responding to each policy proposed by the After the Washington Consensus. In November 1989, John Williamson convened a conference to investigate the progress of economic reforms in Latin America in reaction to the debt crisis. In this conference, Williamson found the opportunity to reveal for the first time the now well-known term “Washington Consensus”. Due to the stagnation that Latin America was experiencing in the fall of 1999, a comprehensive reassessment of Latin America’s progress was conducted and a new set of policy recommendations was established with the name After the Washington Consensus.
