Prof Bheki Sibiya, Director and Head of Wits Business School, cordially invites you to a discussion on the Impact of the Current Crisis on Development Thinking with Prof. John Williamson, Creator of the Washington Consensus.

The discussion will focus on the impact of the crisis on thoughts about how to promote development. In particular, the following topics will be addressed:

• Has the crisis, including the willingness to resort to nationalization inter alia of banks, suggested the need for a more active role for the state than was previously accepted?
• Is there a difference in the answer between groups of countries (e.g. advanced versus most developing countries versus sub-Saharan African countries)?
• Has the crisis suggested the need to re-think advocacy of an export-led development strategy?
• Is it prudent to rely on capital inflows as an important source of development Finance? Or is there a case for capital controls to help insulate economies from external shocks?
• Are countries well advised to seek high reserves as insurance, and if so how should international monetary arrangements evolve and what are the implications for the future role of the dollar?
• A case for micro and macroeconomic liberalization and stabilization in the context of African economic and political integration.