This article reviews the dramatic shift over the course of the 1990s in the
World Bank's approach to development policy and conditionality, addressing
the impetus to change and the substance of that change. It suggests that t
he shift can be explained primarily as a response to the negative experienc
e of the failure of its own policy prescription. It argues that the World B
ank's response has been to revise its view of what constitutes development.
From a conception of development based on the primacy of economic growth,
the World Bank has moved to embrace a conception which elevates the poorest
as the focus of development policy and which relativises the importance of
economic growth. The World Bank's approach to conditionality has been modi
fied accordingly, leveraging a specific emphasis on poverty reduction over
society-wide development goals. We conclude that, while claims are made of
country ownership, the new conditionality severely constrains the potential
for genuine ownership of development policy.