## JISPA Review 2016

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### Background and history of JISPA
- Established in 1993, funded by the government of Japan, administered by the IMF Regional Office for Asia and the Pacific (OAP), objective: “to contribute to institutional capacity building in economic policymaking in order to promote sustainable growth in developing economies in Asia and the Pacific through training future economic policymakers.”
- Review committee composition (early 2016): Detty H. Agustono, Julie Kozack, Hiroshi Shibuya, and Akihiko Yoshida (Naoto Watanabe and Tsutomu Kameda as Yoshida’s alternates).
- Geographic expansion of target countries:
  - Initially: Cambodia, China, Kazakhstan, Kyrgyz Republic, Lao P.D.R., Mongolia, Myanmar, Tajikistan, Turkmenistan, Uzbekistan, Vietnam.
  - Expanded AY 2001–02: Indonesia, the Philippines, Thailand, Timor-Leste, Pacific island countries.
  - Expanded AY 2009–10: Bangladesh, Bhutan, India, Malaysia, Nepal, Sri Lanka.
- Administrative and structural milestones:
  - Initially administered by the IMF Institute in Washington and conducted at Saitama University; 2000 administration transferred to OAP in Tokyo.
  - 2001 restructure introduced two tracks (partnership and open) and increased annual scholarships from 25 to 50.
  - AY 2008–09: Program Review; AY 2009–10: tender of partnership universities led to partner changes.
  - AY 2011–12: newly selected partnership universities began accepting scholars; annual scholarships increased from 50 to 60.
- Preparation/support programs:
  - Skill-Refreshing Courses (SRC) introduced in 2005 under the partnership track.
  - SRC evolved into the Orientation Program (OP) in 2010, hosted at the International University of Japan (IUJ), mid-July to late-September.

### Partnership universities and program intake
- Partnership institutions and programs:
  - National Graduate Institute for Policy Studies (GRIPS): one-year Macroeconomic Policy Program (Master of Public Policy) and two-year Macroeconomic Policy Program (Master of Arts in Public Economics).
  - Hitotsubashi University (HIT): two-year Asian Public Policy Program (Master of Public Policy).
  - International University of Japan (IUJ): two-year International Development Program (Master of Arts in Economics).
  - University of Tokyo (UTokyo): two-year International Program (Master of Public Policy).
- Enrollment and slots:
  - About 60 scholars in residence at any time; 60 scholarships annually under the partnership track (new and continuing).
  - Annual intake ranges:
    - GRIPS one-year program: five to 15.
    - GRIPS two-year program: five to seven.
    - HIT two-year program: five to seven.
    - IUJ two-year program: five to seven.
    - UTokyo two-year program: five to seven.

### Work of the 2016 review committee
- Mandate and context:
  - In 22 years since inception (1993) and 14 years since expansion, 549 officials completed the program.
  - Since AY 2011–12, 113 officials graduated from the current partnership universities.
  - Review scope mirrored the 2009 review: evaluate structure and allocation of scholars; selection process; curriculum (contents and length); postscholarship impact; capacity-building needs.
- Activities:
  - Met in Tokyo: February 16–18 and May 30–31.
  - Visited all partnership institutions in Japan; interviewed Japanese Ministry of Finance principal officer for JISPA.
  - Conducted surveys of sending agencies and alumni in all countries.
  - Visited Cambodia and Myanmar March 28–31; one committee member met individually with Bank Indonesia.
  - Acknowledged OAP support including Mr. Odd Per Brekk (Director), Mr. Giovanni Ganelli (Deputy Head of Office), Mr. Kenichiro Kashiwase (Economist), Ms. Saika Kin (Programs Manager).

### Overall assessment and key findings
- Primary assessment:
  - Committee judged JISPA very successful in improving capacity building of recipient countries and recommended continuing the program generally as currently structured.
- Alumni and sending-agency survey results:
  - Over 72 percent of the 75 alumni who responded reported being promoted within a short period after returning upon completion of the program.
  - 92 percent of respondents reported that the studies and experience gained under JISPA have helped their career progress.
  - Of the 19 sending agencies that responded (representing about 60 percent of JISPA alumni who participated since AY 2011–12), all considered JISPA to be meeting their capacity-building needs and indicated willingness to send junior staff in the future.
  - End-program survey at graduation: among 113 graduating scholars, 112 responded that they would recommend JISPA to their colleagues.
  - Satisfaction ratings: 80–100 percent of respondents rated curriculum, quality and effectiveness of instruction, and supportiveness of the environment either “satisfactory” or “highly satisfactory.”
- Observations from interviews and visits:
  - Strong demand for training among public sector employees, especially junior and midlevel staff.
  - JISPA fills a critical gap by targeting public sector employees and supplying competent staff in developing Asia and the Pacific.
  - Many graduates advance to positions of responsibility; program generates goodwill toward the government of Japan.

### Policy recommendations and program improvements
- Continuation and scale:
  - IMF should seek a commitment from the government of Japan to continue JISPA on a more permanent basis.
  - Strong case for increasing the number of available scholarships due to success and increased competition from expanded country coverage.
  - Increased funding from Japan would be essential to increase program flexibility, possibly requiring reallocation of slots from one-year to two-year programs.
- Curriculum and pedagogical improvements:
  - Partnership universities should continuously improve program quality to address changing needs.
  - Three main improvement areas:
    1. Additional courses in financial economics (role of financial institutions and markets) — rationale: domestic financial institutions and markets are becoming more complex and integrated internationally; understanding their role is essential given lessons from the 1997–98 Asian crisis and the 2008 global financial crisis. Observation: most partnership programs offer ample courses in macroeconomic policy and central banking/monetary policy, but not enough in financial economics.
    2. Greater use of case studies and practical application to balance theory and practice — introduce more case studies in core and elective courses and utilize IMF online courses such as macroeconomic forecasting, financial programming, financial market analysis, and debt sustainability (free and openly available).
    3. Increased opportunities to interact with Japanese students — rationale: builds networks of future government officials and promotes cooperation. Current situation: HIT exhibits limited interaction (JISPA scholars ~one third of small public policy program with only one Japanese student); GRIPS, IUJ, UTokyo have larger English-language programs but still limited interaction.
- Ideal program composition:
  - Core macroeconomic course with options to specialize in:
    1. Macroeconomic policy and public finance.
    2. Economic and operational aspects of central banking and monetary policy.
    3. Role of financial institutions and markets in the world economy.

### Assessment of partnership programs and the Orientation Program (OP)
- Partnership program quality:
  - Four partnership universities substantially improved in quality and generally meet capacity-building needs.
  - Strength: emphasis on thesis writing (or policy proposal papers at GRIPS and policy-related research papers at UTokyo), preparing graduates for careers in sending institutions.
- Orientation Program (OP) design and outcomes:
  - OP components and stated durations:
    - Academic English skills for economics: four weeks.
    - Mathematics for economics and introductory econometrics: four weeks.
    - Introduction to economics: one week.
    - Intensive Japanese course and introduction to Japan and Japanese life: one week.
  - 2015 OP participation: 35 new JISPA scholars attended OP at IUJ from July 13 to September 16 (15 for GRIPS, six for HIT, seven for UT, seven for IUJ).
  - Findings:
    - Scholars uniformly agreed OP is highly important in preparing them for demanding JISPA programs and living in Japan.
    - OP considered very helpful for coursework preparation; no major complaints reported.
    - OP fosters networking and is an essential distinguishing characteristic of JISPA.

### IMF (OAP) support: activities and enhancements
- OAP-organized activities:
  - Welcome and farewell receptions; occasional seminars with IMF economists and policymakers; thesis presentation events; invitations as observers to regional conferences and public seminars; annual campus visits; quarterly JISPA newsletter; post-scholarship follow-up with updated graduate lists; alumni reunions and casual gatherings; an online information-sharing system.
- Findings:
  - IMF support substantially strengthened since the 2009 review; scholars appreciated OAP activities; OAP involvement distinguishes JISPA.
- Recommendations for further IMF support:
  - Better coordinate with universities (especially outside Tokyo) to arrange lectures/seminars by IMF economists and economists from the Japanese government and the Bank of Japan.
  - Do more advertising in recipient countries to raise quantity and quality of applicants, utilizing IMF representative offices.

### Selection of scholars: breadth and process
- Findings:
  - Large pool of qualified individuals outside usual candidate pool (beyond central banks and finance ministries), e.g., Securities and Exchange Commission (SEC) in Cambodia requires specialists for bond and stock markets.
  - JISPA can contribute to capacity building for agencies developing sophisticated financial markets.
- Selection process (partnership track):
  - OAP prescreens applications, forwards qualified applications to partnership universities for thorough screening, final decision by selection committee and OAP in consultation with Japanese authorities.
  - Process includes a math test and an interview; considers candidate qualifications, agency and country needs, and geographic distribution.
- Recommendation:
  - Continue rigid selection while allowing flexibility to accommodate recognized test requirements to avoid excluding potential candidates, particularly from high-need countries.

### Types and duration of programs
- Observations:
  - Current mix of one-year and two-year programs; academically, a master's program ideally comprises two years covering macroeconomics, microeconomics, econometrics (time-series analysis), financial economics, and policy courses.
  - Some GRIPS professors feel one year is too short; many scholars prefer two years though a maximum of one-year study leave is often realistic for sending agencies.
- Recommendation:
  - Give a two-year JISPA scholarship to all scholars who want to study two years and have sending agency permission.
  - Give a one-year scholarship only to those who cannot study two years due to staffing constraints.
  - Implementation requires more flexibility in program management and budgetary conditions.

### Program content: balance and priority areas
- General recommendations:
  - Allow each university to maintain its strengths (e.g., HIT’s focus on public finance).
  - Achieve a better balance between theory and practice and increase courses in financial economics.
  - Focus on policy issues relevant to government officials.
- Specific course enhancements:
  - Strengthen core and elective courses with more case studies.
  - Increase courses in financial economics covering: accounting; corporate finance; portfolio analysis; investment banking; securities markets; banking supervision; financial programming; macroprudential policy analysis and financial deepening to maintain financial stability.
  - Offer courses on policy lessons from Japan’s postwar experience.
  - Develop internships at Japanese government agencies and the Bank of Japan where possible; if limited, consider roundtable discussions with young officials as alternatives.

### Monitoring framework and partnership-university selection
- Current monitoring:
  - Periodical review and tendering of partnership universities under a seven-year framework; midterm review toward end of initial third year.
- Recommendations:
  - Continue periodical reviews and tendering to incentivize improvements.
  - Consider multiyear contracts (for example, eight years with a midterm review).
  - Maintain a small number of partnership universities for OAP quality control and efficient administration.
  - Encourage candidate universities to design curricula with better theory-practice balance and more financial economics.
- Flexibility and cohort size:
  - Greater flexibility in allocating scholars across universities desirable; respect scholars’ preferences while ensuring minimum cohort size.
  - Five should be considered as a minimum cohort size.
  - Increased flexibility feasible only if sufficient funding from Japan is secured regularly.

### PhD demand, open track, and graduate-level training
- Open track PhD uptake (2015):
  - Four scholars enrolled in PhD programs: Malaysia (one), Vietnam (one), Myanmar (two) at GRIPS (one), Kyoto University (one), Hiroshima University (two).
  - Pre-2015: only two scholars pursued doctoral degrees via open track over 2001–07.
  - Recommendation: OAP should remain flexible admitting students to PhD programs under the open track; upward trend expected to continue.
- Need to upgrade graduate-level training:
  - Drivers: increasing demands for higher-quality training in macroeconomic policymaking and international financial markets; rising human capital quality; rapid integration with international markets.
  - Implication: partnership universities should upgrade master’s and PhD programs; OAP should work with Japan to secure funding for the open track.

### Follow-up, network building, and continuing education
- Benefits and objectives:
  - Goodwill toward Japan and a strong network of future government officials in Asia and the Pacific.
  - OAP should follow up with career development of former scholars to maintain goodwill and networks.
- Continuing education proposals:
  - Japan-IMF Macroeconomic Seminar for Asia: one-week executive seminar jointly organized with a host university and OAP.
  - OAP to work with IMF-Singapore Regional Training Institute on leadership programs for midcareer staff.
  - Use IMF Resident Representatives to publicize JISPA beyond ministries of finance and central banks.
  - Send IMF economists and economists from the Japanese government and the Bank of Japan to partnership universities.
- Agency feedback: agencies expressed desire to train older staff as part of workforce development.

### Inclusion of candidates from more developed countries
- Recommendation:
  - Continue to accept candidates from countries further along development to maintain close relationships in central banking and regional cooperation and to contribute to scholar diversity.

### Recommendations summary to improve relevance and effectiveness
- Curriculum: better balance theory/practice; more financial economics courses (examples: macroprudential analysis, portfolio analysis, investment banking, securities markets); more case studies; use IMF online courses.
- Interaction with Japanese students: devise ways to promote interaction inside and outside classroom (example: common room).
- Institutional specialization: encourage each university to build reputation via distinct focus and offer courses on Japan’s postwar policy lessons.
- Program duration and allocation: retain mix of one-year and two-year programs but place more weight on two-year programs; give two-year scholarships to those who want and are permitted, requiring more flexibility and budget.
- Internships and engagement: strong demand for internships with MOF, Financial Services Agency, Bank of Japan; where limited, provide roundtable discussions.
- Outreach and staffing: use IMF Resident Representatives for publicity; secure funding for additional staffing to implement recommendations.
- Continued expansion and funding: secure sufficient funding for future expansion; agencies in Myanmar and Cambodia welcomed more scholarships and are integrating JISPA into staff development plans.

### Assessment of program success and final recommendation
- Conclusion: JISPA has achieved a considerable measure of success in contributing to institutional capacity building in economic policymaking in many developing countries in Asia and the Pacific.
- Contributions: partnership universities and OAP have both contributed through their dedication.
- Evidence: many former scholars occupy important senior positions (including parliament and governor positions).
- Final recommendation: secure sufficient funding for JISPA for future expansion while partnership universities and OAP continuously improve program quality and academic and living environments for policy-oriented theses.

### Key statistics (partnership track, selected)
- Annual number of available scholarships under the partnership track: 60.
- Number of new scholars tends to be about 34–36, including nine to 12 one-year program students.
- Newly accepted scholars by year and university (Grand Total): 34, 36, 35, 36, 35 → Grand Total 176.
  - GRIPS: 11, 10, 11, 11, 10 → Grand Total 53
  - GRIPS2: 6, 6, 5, 7, 5 → Grand Total 29
  - HIT: 5, 6, 5, 4, 6 → Grand Total 26
  - IUJ: 7, 6, 7, 8, 7 → Grand Total 35
  - UTokyo: 6, 7, 6, 7, 3 → Grand Total 33
- Graduates by year and university (Grand Total for AY2011/12–AY2014/15): 9, 34, 36, 34 → Grand Total 113.
  - GRIPS: 19, 11, 11, 11 → Grand Total 42
  - GRIPS2: 6, 6, 5, 1? → Grand Total 17
  - HIT: 5, 6, 4, 1? → Grand Total 15
  - IUJ: 7, 6, 7, ? → Grand Total 20
  - UTokyo: 5, 7, 7, ? → Grand Total 19
- Newly accepted scholars by nationality (Grand Total 176): sample country totals:
  - Bangladesh: 2, 4, 4, 3, 1 → Grand Total 6
  - Cambodia: 2, 4, 2, 5, 4 → Grand Total 17
  - China: 2, 5, 3, 2, 1 → Grand Total 13
  - India: 1, 1, 2, 3, 2 → Grand Total 9
  - Myanmar: 2, 3, 5, 1, 4 → Grand Total 15
  - Thailand: 6, 4, 5, 5, 3 → Grand Total 23
  - Uzbekistan: 5, 3, 2, 4, 2 → Grand Total 16
  - Vietnam: 1, 3, 3, 1, 4 → Grand Total 12
- Graduates by nationality (Grand Total 113 for AY2011/12–AY2014/15): sample country totals:
  - Bangladesh: 2, 4, 3, ? → Grand Total 9
  - Cambodia: 4, 2, 3, ? → Grand Total 9
  - China: 3, 5, 3, ? → Grand Total 11
  - India: 1, 3, 3, ? → Grand Total 7
  - Myanmar: 1, 3, 2, 4 → Grand Total 10
  - Philippines: 2, 1, 3, ? → Grand Total 6
  - Thailand: 3, 5, 5, 4 → Grand Total 17
  - Uzbekistan: 5, 3, 3, ? → Grand Total 11
  - Vietnam: 1, 2, 2, ? → Grand Total 7

### University of Tokyo chapter: review scope, timetable, and questionnaire highlights
- Purpose and scope restated: assess effectiveness of JISPA under seven-year framework and orient future direction; target next tender starting intake 2018–19.
- Components assessed: program structure; partnership track; OP; open track; internships; OAP activities; budget; postscholarship impact; needs of recipient countries.
- Review committee inputs and timetable highlights:
  - February 2016 (week of February 15): convene in Tokyo for three days to confirm review process and finalize questionnaire.
  - March–April 2016: OAP sends questionnaire; analyze results.
  - March–early May 2016: video conferences and country visits.
  - May 2016: submit preliminary findings and draft final report template to OAP.
  - May–June 2016: final review committee convenes; June 2016: submit final report to OAP.
- Questionnaire results (ANNEX VIII — JISPA alumni; N=75):
  - Q1: Do you think your studies and experience under JISPA has helped your career progress?
    - Strongly agree: 38 — 50.7%
    - Agree: 31 — 41.3%
    - Neither agree nor disagree: 5 — 6.7%
    - Disagree: 1 — 1.3%
    - Strongly disagree: 0 — 0.0%
    - Total: 75 — 100.0%
  - Q2: How would you describe the seniority of your current position compared to the position you held at the time of your JISPA admission?
    - Lower: 0 — 0.0%
    - Significantly higher: 16 — 21.3%
    - Slightly higher: 38 — 50.7%
    - About the same: 21 — 28.0%
    - Total: 75 — 100.0%
- Questionnaire results (ANNEX IX — Sponsoring agencies):
  - On institutional willingness to allow additional junior staff to participate in JISPA: Yes: 11 — 100.00% (source formatting shows aggregated affirmative responses among respondents).
  - On institutional need for staff with a doctoral degree: Yes: 18 — 89.47%; No: 2 — 10.53%.
  - On willingness to send staff for doctoral study: Yes: 11 — 100.00% (among reporting agencies).

### Annexes, site visits, and alumni in senior positions
- Selected site visits and interviews: Hitotsubashi University (February 16); International University of Japan (February 17); GRIPS and UTokyo (February 18 and May 30); country visits included Cambodia (March 28), Myanmar (March 30), Indonesia (April).
- ANNEX XI (as of June 2016): lists JISPA alumni in senior positions by country and admission year; numbered entries run through No. 56 and include positions such as Deputy Director General, Deputy Governor, Deputy Minister, Governor, Director General, Member of Parliament, Consul General, Rector, Deputy Secretary General, Chairman and CEO, and senior advisory roles.

*International Monetary Fund — Japan-IMF Scholarship Program for Asia (JISPA) Review 2016, IMF Regional Office for Asia and the Pacific (OAP).*

### INTRODUCTION

### INTRODUCTION

### Background and history of JISPA
- The IMF Regional Office for Asia and the Pacific (OAP) formed a review committee in early 2016 consisting of Detty H. Agustono, Julie Kozack, Hiroshi Shibuya, and Akihiko Yoshida (Naoto Watanabe and Tsutomu Kameda as Yoshida’s alternates).
- JISPA was established in 1993, funded by the government of Japan, and is administered by OAP. Its objective is “to contribute to institutional capacity building in economic policymaking in order to promote sustainable growth in developing economies in Asia and the Pacific through training future economic policymakers.”
- Geographic expansion of target countries:
  - Initially targeted transition economies in Asia: Cambodia, China, Kazakhstan, Kyrgyz Republic, Lao P.D.R., Mongolia, Myanmar, Tajikistan, Turkmenistan, Uzbekistan, Vietnam.
  - Expanded from AY 2001–02 to include Indonesia, the Philippines, Thailand, Timor-Leste, and Pacific island countries.
  - Expanded in AY 2009–10 to include Bangladesh, Bhutan, India, Malaysia, Nepal, and Sri Lanka.
- Program structure and administrative changes:
  - Initially administered by the IMF Institute in Washington and conducted exclusively at Saitama University.
  - In 2000 administration transferred from the IMF Institute to OAP in Tokyo.
  - In 2001 restructured to include two tracks—the partnership track with four universities and the open track—and annual scholarships increased from 25 to 50.
  - AY 2008–09: JISPA Program Review conducted; AY 2009–10: tender of partnership universities led to a change in partners.
  - AY 2011–12: newly selected partnership universities began accepting scholars; annual scholarships increased from 50 to 60.
- Preparation/support programs:
  - Skill-Refreshing Courses (SRC) introduced in 2005 under the partnership track to provide intensive summer training in English and mathematics.
  - SRC evolved into the Orientation Program (OP) in 2010 to prepare newly accepted scholars academically and for life in Japan. OP is conducted at the International University of Japan in Niigata prefecture and is held from mid-July to late-September prior to scholars commencing studies at partnership universities.

### Partnership universities and program intake
- Current partnership institutions and programs:
  - The National Graduate Institute for Policy Studies (GRIPS)—the one-year Macroeconomic Policy Program (offering a Master of Public Policy) and the two-year Macroeconomic Policy Program (offering a Master of Arts in Public Economics).
  - Hitotsubashi University (HIT)—the two-year Asian Public Policy Program (offering a Master of Public Policy) in the School of International and Public Policy.
  - The International University of Japan (IUJ)—the two-year International Development Program (offering a Master of Arts in Economics) in the Graduate School of International Relations.
  - The University of Tokyo (UTokyo)—the two-year International Program (offering a Master of Public Policy) in the Graduate School of Public Policy.
- Enrollment and slot details:
  - GRIPS is the only institution offering a one-year program; all four schools offer two-year programs and accept scholars annually.
  - At any given time about 60 scholars are in residence—that is, 60 scholarships are annually offered under the partnership track, including both new and continuing scholars.
  - Number of annual intake:
    - GRIPS one-year program: five to 15.
    - GRIPS two-year program: five to seven.
    - HIT two-year program: five to seven.
    - IUJ two-year program: five to seven.
    - UTokyo two-year program: five to seven.

### Work of the 2016 review committee
- Context and mandate:
  - In the 22 years since inception (1993) and 14 years since the expansion, 549 officials have completed the program.
  - Since AY 2011–12, 113 officials have graduated from the current partnership universities.
  - The committee’s mandate mirrored the 2009 review: evaluate overall program effectiveness and make recommendations, reviewing (1) structure and allocation of scholars, (2) selection process, (3) curriculum (contents and length), (4) postscholarship impact, and (5) capacity-building needs of recipient countries.
- Activities undertaken by the committee:
  - Met twice in Tokyo: February 16–18 and May 30–31.
  - Visited all partnership institutions in Japan to meet faculty, administrators, and current scholars.
  - Interviewed the principal officer responsible for JISPA at the Japanese Ministry of Finance.
  - Conducted a survey of sending agencies and alumni in all countries.
  - Visited Cambodia and Myanmar March 28–31 to interview relevant officials, alumni, and resident IMF office staff.
  - One committee member met individually with Bank Indonesia.
- Acknowledgement of support received from OAP staff including Mr. Odd Per Brekk (Director), Mr. Giovanni Ganelli (Deputy Head of Office), Mr. Kenichiro Kashiwase (Economist), and Ms. Saika Kin (Programs Manager).

### Overall assessment and key findings
- Primary assessment:
  - The committee judged that JISPA has been very successful in improving capacity building of recipient countries and recommended continuing the program generally as currently structured.
- Alumni and sending-agency survey results:
  - Over 72 percent of the 75 alumni who responded to the survey have been promoted within a short period after returning to their home agencies upon completion of the program.
  - 92 percent of respondents reported that the studies and experience gained under JISPA have helped their career progress.
  - Of the 19 sending agencies that responded to the survey (representing about 60 percent of the JISPA alumni who have participated since AY 2011–12), all considered JISPA to be meeting their capacity-building needs and indicated willingness to send junior staff in the future.
  - End-program survey at graduation: among 113 graduating scholars, 112 responded that they would recommend JISPA to their colleagues.
  - Satisfaction ratings: 80–100 percent of respondents rated curriculum, quality and effectiveness of instruction, and supportiveness of the environment either “satisfactory” or “highly satisfactory.”
- Observations from interviews and visits:
  - Strong demand for training among public sector employees, especially junior and midlevel staff.
  - JISPA fills a critical gap by targeting public sector employees and helping supply competent staff in developing Asia and the Pacific.
  - Many JISPA graduates advance to positions of responsibility; graduates generally pleased with their education.
  - The program generates goodwill toward the government of Japan and fond memories among scholars.

### Policy recommendations and program improvements
- Continuation and scale:
  - The IMF should seek a commitment from the government of Japan to continue JISPA on a more permanent basis.
  - A strong case exists for increasing the number of available scholarships due to recognized success and increased competition from expanded country coverage.
  - Increased funding from the government of Japan would be essential to increase program flexibility, which may require reallocation of some slots from one-year to two-year programs.
- Curriculum and pedagogical improvements:
  - Partnership universities should continuously improve program quality to address changing needs of countries in Asia and the Pacific.
  - Three main areas of improvement recommended:
    1. Additional courses in financial economics (role of financial institutions and markets).
       - Rationale: domestic financial institutions and markets are becoming more complex and integrated internationally; understanding their role is essential for effective policymaking given lessons from the 1997–98 Asian crisis and the 2008 global financial crisis.
       - Observation: most partnership programs offer ample courses in macroeconomic policy and central banking/monetary policy, but not enough in financial economics (area (3)).
    2. Greater use of case studies and practical application to balance theory and practice.
       - Rationale: scholars will return to public sector policymaking roles and need applied skills; many professors are strong theorists but less experienced in practice.
       - Recommendation: introduce more case studies in core and elective courses and utilize IMF online courses such as macroeconomic forecasting, financial programming, financial market analysis, and debt sustainability (noting these are free and openly available).
    3. Increased opportunities to interact with Japanese students.
       - Rationale: greater interaction would build networks of future government officials in Asia and the Pacific and promote economic and political cooperation.
       - Current situation: HIT exhibits limited interaction (JISPA scholars constitute about a third of the small public policy program with only one Japanese student enrolled); GRIPS, IUJ, and UTokyo have larger English-language programs but still limited interaction with Japanese students.
       - Recommendation: partnership universities should create academic and living environments that facilitate natural interaction between JISPA scholars and Japanese students.
- Ideal program composition suggested by the committee:
  - A core macroeconomic course with options to specialize in:
    1. Macroeconomic policy and public finance.
    2. Economic and operational aspects of central banking and monetary policy.
    3. Role of financial institutions and markets in the world economy.

### Assessment of individual partnership programs and the Orientation Program (OP)
- Partnership program quality:
  - The four partnership universities have substantially improved in quality and generally meet capacity-building needs of recipient countries.
  - Faculty and staff demonstrate zeal and enthusiasm; partnership universities have predominantly met terms of the partnership agreements.
  - A commonly cited program strength is emphasis on thesis writing (or policy proposal papers at GRIPS and policy-related research papers at UTokyo), which prepares graduates for careers in sending institutions.
- Orientation Program (OP):
  - Evolved from SRC in 2010; objective is to prepare scholars academically and for living in Japan.
  - OP provides intensive courses with stated durations:
    - (1) Academic English skills for economics (four weeks).
    - (2) Mathematics for economics and introductory econometrics (four weeks).
    - (3) Introduction to economics (one week).
    - (4) Intensive Japanese course and basic [course text truncated in source].

*The IMF Regional Office for Asia and the Pacific (OAP) — JISPA Review 2016, INTRODUCTION.*

### introduction to Japan and Japanese life (one week). In 2015 a total of 35 new JISPA

### jispa-review2016 - introduction to Japan and Japanese life (one week). In 2015 a total of 35 new JISPA

### Orientation Program (OP): role and outcomes
- In 2015 a total of 35 new JISPA scholars (15 for GRIPS, six for HIT, seven for UT, and seven for IUJ) attended the OP held on the IUJ campus from July 13 to September 16.
- Findings:
  - Former and current scholars uniformly agreed on the highly important role the OP has in preparing new scholars for entering into the demanding JISPA programs and living in Japan.
  - Scholars consider the courses to be very helpful in preparing them for the coursework in the fall.
  - No major complaints or concerns regarding the OP were reported by interviewed scholars.
  - OP constitutes an essential and distinguishing characteristic of JISPA compared with other scholarship programs.
  - OP fosters networking by enabling scholars to meet each other and live on campus together for more than two months and provides networking opportunities with Japanese students participating in the English component.

### IMF (OAP) support: activities and enhancements
- Activities organized by OAP:
  - Welcome and farewell receptions each year to broaden scholars’ networks.
  - Occasional seminars exclusively for scholars with IMF economists and policymakers as speakers.
  - Presentation events where selected scholars present their thesis as an accomplishment of their studies under the program.
  - Invitations for JISPA scholars as observers to regional conferences on macroeconomic and financial policy issues and public seminars organized by OAP.
  - Annual campus visits by OAP staff to seek feedback from scholars and professors.
  - Quarterly JISPA newsletter featuring alumni and current scholars.
  - Post-scholarship follow-up: partnership universities submit updated lists of JISPA graduates to OAP once a year.
  - Alumni reunions and casual alumni gatherings coordinated with OAP staff visits and professor travel.
  - An online information-sharing system for alumni and scholars.
- Findings:
  - IMF support for JISPA scholars has been substantially strengthened since the 2009 review.
  - Scholars interviewed appreciated OAP activities; OAP’s involvement distinguishes JISPA from other scholarship programs.
- Recommendations for further IMF support:
  - Better coordinate with universities—especially those outside Tokyo—to arrange lectures or seminars by IMF economists and economists from the Japanese government and the Bank of Japan on current global and Japanese economic issues.
  - Do more advertising of the program in recipient countries to raise both quantity and quality of applicants; for example, utilize IMF representative offices more effectively to advertise JISPA so scholars from a wide range of government agencies can apply.

### Selection of scholars: breadth and process
- Findings:
  - There is a large pool of qualified individuals outside the usual candidate pool from central banks and finance ministries.
  - Agencies beyond traditional ones—e.g., Securities and Exchange Commission (SEC) in Cambodia—require professionals knowledgeable in financial institutions and markets to develop bond and stock markets.
  - JISPA can contribute to capacity building for agencies developing sophisticated financial markets (money markets, bond markets, stock markets).
- Current selection process:
  - OAP prescreens all applications, forwards qualified applications to partnership universities for thorough screening, and the final decision is made by the selection committee and OAP in consultation with Japanese authorities.
  - The selection process includes a math test and an interview and takes into account candidate qualifications, agency and country capacity-building needs, and geographical distribution among targeted countries in Asia and the Pacific.
- Recommendation:
  - Continue the rigid selection process while keeping room for flexibility by accommodating recognized test requirements so as not to exclude potential candidates, particularly from countries with high capacity-building needs.

### Types and duration of programs
- Observations:
  - Current JISPA structure mixes one-year and two-year programs.
  - From an academic perspective, a master’s program should ideally comprise two years of learning and training in macroeconomics, microeconomics, econometrics (time-series analysis), financial economics, and other policy-related courses.
  - Some professors at GRIPS feel one year is too short and that their one-year program effectively requires an 18-month or three-semester workload.
  - Most JISPA scholars interviewed prefer a two-year program, though a maximum of one-year study leave is often more realistic for sending agencies.
- Recommendation:
  - Give a two-year JISPA scholarship to all scholars who want to study for two years and have the permission of their sending agency.
  - Give a one-year scholarship only to those who cannot study for two years due to tight staffing constraints at the sending agency.
  - Implementing this requires more flexibility in program management and budgetary conditions.

### Program content: balance and priority areas
- General recommendations:
  - Allow each university to maintain its own areas of strength (for example, HIT’s focus on public finance).
  - Programs should achieve a better balance between theory and practice and increase the number of courses in financial economics.
  - Focus should be on policy issues relevant to government officials in the contemporary world.
- Specific course and content enhancements:
  - Strengthen both core and elective courses with more case studies to improve theory-practice balance.
  - Increase courses in financial economics covering:
    - accounting
    - corporate finance
    - portfolio analysis
    - investment banking
    - securities markets
    - banking supervision
    - financial programming
    - macroprudential policy analysis and financial deepening to maintain financial stability
  - Strengthen comparative advantage by offering courses on policy lessons from the successes and failures of the Japanese economy in the postwar period.
  - Develop opportunities for internships at Japanese government agencies and the Bank of Japan (scholars expressed strong interest), recognizing that internships at Japanese government agencies are limited; consider roundtable discussions with young officials of the Japanese Ministry of Finance and Bank of Japan as an alternative.
- Rationale:
  - These improvements aim to meet scholars’ and sending agencies’ demand for more Japan-IMF content that makes JISPA unique and attractive relative to other scholarship programs.

### Monitoring framework and selection of partnership universities
- Current monitoring approach:
  - Periodical review and subsequent adjustments to JISPA and tendering of partnership universities to ensure transparency and accountability (detailed in Section II of Annex I).
- Recommendations:
  - Continue periodical reviews and tendering to provide incentives for partnership universities to enhance programs in response to evolving economic needs.
  - Consider multiyear contracts with partnership universities (for example, eight years with a midterm review in the middle) to offset initial costs and foster scholars’ sense of belonging.
  - Maintain a small number of partnership universities to allow OAP quality control and efficient scholar selection and program administration.
  - Encourage candidate universities at tendering to design curricula with a better balance between theory and practice and to offer more courses in financial economics.
- Flexibility and cohort size:
  - Greater flexibility in allocation of scholars across partnership universities is desirable as programs develop distinct focuses.
  - Program management should respect scholars’ preferences while balancing the need for each partnership university to have a minimum cohort size.
  - Five should be considered as a minimum size for a cohort.
  - Increased flexibility is feasible only if sufficient funding from the government of Japan is secured on a regular basis.

### PhD demand and open track expectations
- Observation:
  - In view of the increased knowledge and skill levels required by policymakers in the contemporary world, an increased demand for the use of the open track program is expected.

*JISPA Review 2016*

### 2015. Currently four scholars, from Malaysia (one), Vietnam (one), and Myanmar (two),

### JISPA review (2015)

### Open track PhD uptake and implications
- 2015: Currently four scholars, from Malaysia (one), Vietnam (one), and Myanmar (two), are enrolled in a PhD program at GRIPS (one), Kyoto University (one), and Hiroshima University (two).
- Contrast with pre-2015: only two scholars participated in the open track to pursue a doctoral degree over the period of 2001–07.
- Interpretation: The increase in the use of the open track program is likely to be a sign of a new future trend.
- Recommendation: OAP should continue to remain flexible about admitting students to PhD programs under the open track, as the demand has picked up in recent years. The review expects this upward trend to continue.

### Need to upgrade graduate-level training (master’s and PhD)
- Drivers:
  - Increasing demands for higher-quality and higher-level training in macroeconomic policymaking with a better understanding of international financial markets.
  - Rising quality of human capital throughout developing countries in Asia.
  - Rapid integration of many Asian developing countries with international financial markets and the world economy.
- Implication: Partnership universities should strive to upgrade not only their master’s programs but also PhD programs to meet the needs of public sector officials in the 21st century.
- Funding: OAP should work with the government of Japan to secure sufficient funding for the open track in the near future.

### Follow-up, network building, and continuing education
- Benefits for Japan: Goodwill toward Japan and a strong network of future government officials in Asia and the Pacific.
- Follow-up objective: OAP should follow up with the career development of former scholars to maintain and develop goodwill, the network, and former scholars’ knowledge and skills.
- Continuing education proposals:
  - IMF and the government of Japan could develop new opportunities for former scholars to brush up their skills and knowledge.
  - Japan-IMF Macroeconomic Seminar for Asia: a one-week executive seminar jointly organized with a host university and OAP.
  - OAP in synergy with the IMF-Singapore Regional Training Institute to develop new leadership programs targeted at midcareer staff.
  - Use of IMF Resident Representatives to publicize and advertise JISPA beyond ministries of finance and central banks.
  - Send IMF economists and economists from the Japanese government and the Bank of Japan to partnership universities (particularly those outside Tokyo) to present lectures or seminars on current policy issues and economic issues Japan faces today.
- Agency feedback: Interviewed agencies expressed desire to train older staff who remain an important part of their workforce.

### Inclusion of candidates from more developed countries
- Recommendation: JISPA should continue to accept candidates from countries that have progressed further along their route toward development.
- Rationale: Need for maintaining close relationships in central banking and regional economic cooperation and contributing to the diversity of the group of scholars.

### Recommendations to improve program relevance and effectiveness
- Curriculum improvements at partnership universities:
  - Achieve a better balance between theory and practice.
  - Offer more courses in the field of financial economics (examples: macroprudential analysis, portfolio analysis, investment banking, securities markets).
  - Utilize more case studies and practical applications in core and elective courses.
  - Utilize IMF online courses such as macroeconomic forecasting and financial programming.
- Promote interaction with Japanese students:
  - Partnership universities should devise ways to promote interaction between JISPA scholars and Japanese students both inside and outside the classroom.
  - Example: create a common room open for all students and professors to meet and discuss.
- Institutional specialization and competitiveness:
  - Each partnership university should be encouraged to have its own area of study/research focus to build reputation.
  - Offer courses about policy lessons from Japan’s postwar experience of economic success and failure to offset some disadvantages relative to foreign universities offering a “full” native English environment.
- Program duration and scholarship allocation:
  - Continue the current mix of one-year and two-year programs to accommodate tight staffing conditions of some sending agencies.
  - Place more weight on two-year programs; ideally, all scholars who want (and are allowed by sending agencies) to take a two-year program should be given a two-year scholarship.
  - This will require more flexibility in the management and budget of the JISPA program.
- Internships and alternative engagement with Japanese agencies:
  - Strong demand for internships with the Ministry of Finance, Financial Services Agency, and the Bank of Japan.
  - Given limited internship availability, OAP is progressing toward providing opportunities for scholars to participate in roundtable discussions with the Ministry of Finance and the Bank of Japan, and possibly the Financial Services Agency, in place of internships.
- Outreach and staffing:
  - OAP should utilize IMF Resident Representatives to publicize and advertise the JISPA program beyond ministries of finance and central banks.
  - OAP should secure some funding for additional staffing to arrange initiatives and activities recommended by the review.
- Continued expansion and funding:
  - Sufficient funding for JISPA should be secured for future expansion.
  - Agencies interviewed in Myanmar and Cambodia stated they would welcome more scholarships under JISPA.
  - Senior officials in both countries are integrating JISPA into their in-house staff training and development programs; JISPA is becoming an increasingly important part of their long-term staff development plans.

### Assessment of program success and final recommendation
- Conclusion of the review committee: JISPA has achieved a considerable measure of success in contributing to institutional capacity building in economic policymaking in many developing countries in Asia and the Pacific.
- Contributions:
  - All partnership universities contributed through dedication to JISPA scholars and their academic programs.
  - OAP contributed through its dedication to JISPA scholars and management of the JISPA program.
- Evidence of impact: Many former scholars are now working in important senior positions (including parliament and governor positions) in their governments and central banks (see Annex XI referenced by the review).
- Strong recommendation: Secure sufficient funding for JISPA for future expansion while partnership universities and OAP continuously improve program quality and the academic and living environment for scholars to learn and write policy-oriented theses.

*Japan-IMF Scholarship Program for Asia (JISPA) review (2015), administered by the IMF’s OAP and financed under the Japan Administered Accounts for Technical Assistance and Training.*

### 1. Sixty scholarships are offered annually under the partnership track, including both new and continuing

### 1. Sixty scholarships are offered annually under the partnership track, including both new and continuing

### Program scope and objectives
- The Japan-IMF Scholarship Program for Asia (JISPA) aims to contribute to institutional capacity building in economic policymaking by training junior government officials of key economic agencies to promote sustainable growth in emerging market and developing economies in the Asia and Pacific region.
- Currently eligible countries include Bangladesh, Bhutan, Cambodia, China, India, Indonesia, Kazakhstan, Kyrgyz Republic, Lao P.D.R., Malaysia, Maldives, Mongolia, Myanmar, Nepal, Pacific island countries, Papua New Guinea, Philippines, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Uzbekistan, and Vietnam.
- Since the 2009–10 academic year, the program objectives shifted toward general capacity building; the program was expanded to include Bangladesh, Bhutan, India, Malaysia, Maldives, Nepal, and Sri Lanka in AY 2009-10.

### Scholarship numbers and tracks
- Annual number of available scholarships under the partnership track: 60.
- Number of new scholars tends to be about 34–36, including nine to 12 one-year program students (the number depends on the composition of scholars who have enrolled in one- or two-year programs).
- A small number of scholarships are available on the open track.
- The partnership track includes four partnership universities.

### Partnership-track guarantees and selection
- The IMF guarantees a minimum number of scholars for each partnership university.
- Beyond the minimum number and up to the maximum number, acceptance into the university is decided based on candidates’ qualifications and their choice of the universities.
- For the partnership track:
  - OAP prescreens all applications before forwarding qualified applicants to partnership universities for thorough screening.
  - Selection is undertaken by a selection committee comprising faculty members of the partnership universities.
  - An English test, prepared by the host institution of the Orientation Program (OP), is arranged for applicants who do not submit recognized English scores.
  - Applicants who pass the universities’ screening are invited to interviews and to take a math test. These are typically conducted by university professors in candidates’ home countries with the assistance of the IMF Resident Representative or other local offices.
  - Final decision on scholar selection is made by the selection committee and OAP, in consultation with the Japanese authorities.

### Orientation Program (OP)
- The OP is offered under the partnership track to help newly accepted scholars acquire appropriate English and mathematics skills and facilitate transition to the master’s program and living in Japan.
- Following selection of partnership universities, the tender for the host institution for the OP was conducted in AY 2010–11.
- The IUJ was selected as the host institution; an agreement concluded for the same period as those with partnership universities (seven successive annual intakes).
- OP course composition (current):
  - Academic English: four weeks
  - Mathematics/computational skills: four weeks
  - Introductory economics: one week
  - Japanese language: one week
  - Lectures on cross-cultural understanding and OAP presentations on the IMF and the contribution that the Japanese government makes to the IMF
- Historical change: allocation of time changed from six weeks to four weeks for academic English and from two weeks to four weeks for the mathematics/computational skills course based on scholar and faculty feedback.

### Open track
- Open track scholarships are provided for highly motivated officials who wish to study at nonpartnership programs at a university in Japan.
- Priority is given to PhD candidates.
- JISPA partnership track scholars are eligible to apply for the open track scholarships for their doctoral degree studies.
- Under the open track, candidates must first apply to or be admitted to the university of their choice; only then are they eligible to apply for the scholarship.
- After OAP assessment and interviews, applicants must submit the university’s admission letter prior to the final decision. Final selection is made by OAP, in consultation with the Japanese authorities.

### JISPA midterm review findings and recommendations
- The midterm review (conducted toward the end of the initial third year of the seven-year contract) assessed progress and fulfillment of obligations by partnership universities.
- The review found:
  - The partnership universities had generally met the requirements.
  - The program had achieved a considerable measure of success by filling a critical gap in skills between highly trained senior officials and junior officials through training the latter.
  - JISPA is a unique program targeting officials from key economic agencies.
- The review recommended:
  - The structure of the partnership track remain to ensure quality control and foster an identity of Japan-IMF scholars.
  - Offer some practical training courses.
  - Relax internship guidelines so that JISPA scholars can participate in internships with Japanese government agencies.
  - Organize informal discussion sessions between JISPA scholars and their country economists of the IMF.
- Continuation of the seven-year contract is subject to successful implementation of contractual requirements identified by the midterm review; OAP may exercise options to withdraw or otherwise significantly alter program funding for remaining years if needed.

### Administration, promotion, and application procedures
- OAP management introduced a seven-year systematic framework for periodic review and subsequent tendering of partnership universities; overall review aims to assess effectiveness of JISPA and orient its future direction.
- Promotion:
  - OAP annually publishes an e-brochure and hard copies of fliers.
  - Application notices are sent to relevant offices of IMF Executive Directors, Area Departments, Institute for Capacity Development, Resident Representative and other local offices, with requests to distribute to relevant key economic agencies.
  - In consultation with field offices, OAP separately sends application notices to government agencies where appropriate.
  - Scholarship information is fully available on the Internet.
  - OAP staff visit target countries at regular intervals to meet senior officials and maintain contact with former scholars.
- Application:
  - Applications are sent directly to OAP by individual applicants with an accompanying letter of nomination from the applicant’s employing agency.

### OAP activities for scholars and postscholarship follow-up
- OAP organizes welcome and farewell receptions each year to broaden networks among fellows, officials of the Japanese Ministry of Finance and the Bank of Japan, and diplomats or representatives of central banks.
- OAP organizes occasional seminars exclusively for scholars with IMF economists and policymakers as speakers.
- OAP organizes presentations where scholars present their theses.
- OAP invites JISPA scholars as observers to high-level regional conferences and to OAP public seminars.
- OAP conducts an annual campus visit to seek feedback from scholars and professors.
- OAP releases a quarterly JISPA newsletter featuring alumni and current scholars.
- Based on the midterm review (AY 2013–14), OAP aims to organize informal discussion sessions between JISPA scholars and their country economists of the IMF.
- Postscholarship follow-up:
  - Each partnership university is requested to submit an updated list of JISPA graduates to OAP once a year.
  - OAP hosts alumni reunions in various countries during OAP staff visits and arranges casual alumni gatherings when professors visit target countries to conduct interviews.
  - An online information-sharing system is available.

### Key statistics from annexes (partnership track)
- Newly accepted scholars by year and university (Grand Total): 34, 36, 35, 36, 35 → Grand Total 176.
  - GRIPS: 11, 10, 11, 11, 10 → Grand Total 53
  - GRIPS2: 6, 6, 5, 7, 5 → Grand Total 29
  - HIT: 5, 6, 5, 4, 6 → Grand Total 26
  - IUJ: 7, 6, 7, 8, 7 → Grand Total 35
  - UTokyo: 6, 7, 6, 7, 3 → Grand Total 33
- Graduates by year and university (Grand Total): 9, 34, 36, 34, 113? (Annex table lists Grand Total 113 for period AY2011/12–AY2014/15 and Grand Total 176 for full period of newly accepted; specific yearly graduate totals shown as 9, 34, 36, 34 → Grand Total 113).
  - GRIPS: 19, 11, 11, 11 → Grand Total 42
  - GRIPS2: 6, 6, 5, 1? → Grand Total 17
  - HIT: 5, 6, 4, 1? → Grand Total 15
  - IUJ: 7, 6, 7, ? → Grand Total 20
  - UTokyo: 5, 7, 7, ? → Grand Total 19
- Newly accepted scholars by nationality (Grand Total 176): sample entries
  - Bangladesh: 2, 4, 4, 3, 1 → Grand Total 6
  - Cambodia: 2, 4, 2, 5, 4 → Grand Total 17
  - China: 2, 5, 3, 2, 1 → Grand Total 13
  - India: 1, 1, 2, 3, 2 → Grand Total 9
  - Myanmar: 2, 3, 5, 1, 4 → Grand Total 15
  - Thailand: 6, 4, 5, 5, 3 → Grand Total 23
  - Uzbekistan: 5, 3, 2, 4, 2 → Grand Total 16
  - Vietnam: 1, 3, 3, 1, 4 → Grand Total 12
- Graduates by nationality (Grand Total 113 for AY2011/12–AY2014/15): sample entries
  - Bangladesh: 2, 4, 3, ? → Grand Total 9
  - Cambodia: 4, 2, 3, ? → Grand Total 9
  - China: 3, 5, 3, ? → Grand Total 11
  - India: 1, 3, 3, ? → Grand Total 7
  - Myanmar: 1, 3, 2, 4 → Grand Total 10
  - Philippines: 2, 1, 3, ? → Grand Total 6
  - Thailand: 3, 5, 5, 4 → Grand Total 17
  - Uzbekistan: 5, 3, 3, ? → Grand Total 11
  - Vietnam: 1, 2, 2, ? → Grand Total 7
- Orientation Program participation (Annex VI):
  - Academic years 2011-12 to 2015-16: OP Full OP, Math OP total, Did Not Attend, Incoming Scholars Total summarized in annex table with Total Incoming Scholars = 176.

*Japan-IMF Scholarship Program for Asia (JISPA) review and program administration summary, IMF Regional Office for Asia and the Pacific (OAP).*

### 4. University of Tokyo

### 4. University of Tokyo

### Program description and curriculum
- Program: International Program/Master of Public Policy (Master of Public Policy—two-year program).
- Open track scholarships:
  - Provided for highly motivated officials who wish to study at nonpartnership programs at a university in Japan.
  - Priority is given to PhD candidates.
- Partnership track scholarships:
  - Offer both one-year and two-year master’s degrees in economics and public policy.
  - All programs are oriented toward macroeconomics, with a focus on fiscal policy, central banking and monetary policy, or financial market expertise.
- Partnership track components:
  - Orientation Program aimed at preparing newly accepted scholars with appropriate English and mathematics skills and facilitating transition to living in Japan.
  - Orientation Program courses: academic English (four weeks), mathematics/introductory econometrics (four weeks), introductory economics (one week), Japanese (one week).
  - Special lectures on cross-cultural understanding are also provided.

### Purpose and scope of the overall review of JISPA
- Purpose:
  - Assess the effectiveness of JISPA and orient the future direction of the program under a seven-year systematic framework for periodic review and subsequent tendering of partnership universities.
  - Based on recommendations, revise JISPA and conduct the next tender to select partnership universities starting from an intake in the 2018–19 academic year in accordance with the procurement guidelines.
- Scope:
  - JISPA’s ultimate objective: help build the capacity of official institutions in recipient countries through training of government officials.
  - Success criteria include:
    - Targeting countries with greatest need for capacity building while ensuring applicant quality.
    - Appropriateness of the selection process.
    - Usefulness of the course program and academic teaching for recipients’ careers.
    - Academic achievement of recipients.
    - Career progress of students and their contribution to their organization after return.

### Components assessed in the overall review
- A. Structure and Components of JISPA
  - i. Overall Structure of the Program
    - Structure of the Program.
    - Monitoring Framework: a seven-year systematic framework for periodical review and subsequent tendering of partnership universities.
    - Note: The duration of the current contract with the universities is for seven successive annual intakes, with the final intake in the 2017–18 academic year. A midterm review was conducted toward the end of the initial three-year period to assess progress and fulfillment of obligations by the universities.
  - ii. Partnership Track
    - Composition of the Programs.
    - Target Agencies.
    - Selection Process.
    - Curriculum.
    - JISPA Scholars’ Academic Performance.
    - Academic Support.
    - Administrative Support.
    - Administrative Arrangements under JISPA.
  - iii. Orientation Program.
  - iv. Open Track.
  - v. Internships:
    - Appropriateness of current guidelines under which JISPA scholars can undertake only unpaid internship at Japanese government agencies.
  - vi. OAP Activities and Involvement.
  - vii. Budget Implications.
- B. Postscholarship Impact
  - i. Performance of JISPA Alumni.
  - ii. Follow-Up Activities for JISPA Alumni.
- C. Needs of Recipient Countries.

### Review committee, inputs, and final output
- Overall Review Committee composition:
  - An official from the Japanese Ministry of Finance.
  - A representative from a recipient agency.
  - A representative from academia.
  - An IMF staff member.
- Committee inputs and methods:
  - Assess past and current scholarship recipients and sponsoring agencies through questionnaires.
  - Review universities’ curricula and reports.
  - Interview governmental agencies and past recipients; visit selected recipient countries; hold video conferences as necessary.
  - Interview professors, current scholarship recipients at all partnership universities, and open track scholars.
  - Interview OAP staff.
- Final output:
  - A report in English summarizing findings and recommendations to be submitted to OAP, with a copy to the Japanese Ministry of Finance.
  - The final report will assess overall effectiveness of JISPA and fulfillment of universities’ obligations and orient the future direction of the program with suggestions for improvements.
  - Target submission: final report to OAP by June 2016.

### Timetable (selected milestones)
- February 2016 (Week of February 15): Review committee convenes in Tokyo for three days to confirm review process; interview professors, current scholars, Japanese Ministry of Finance officials, and OAP staff; finalize questionnaire.
- March–April 2016: OAP sends the questionnaire; analyze results.
- March–early May 2016: Video conference interviews with senior officials and scholarship recipients as necessary; review committee country visits and interviews (for five to 13 days).
- May 2016: Submit preliminary findings and a draft template of the final report to OAP.
- May–June 2016: Convene in Tokyo for the final review committee (one to two days).
- June 2016: Submit the final report to OAP.

### Questionnaire results (ANNEX VIII — JISPA alumni)
- 1. Do you think your studies and experience under JISPA has helped your career progress?
  - Strongly agree: 38 — 50.7%
  - Agree: 31 — 41.3%
  - Neither agree nor disagree: 5 — 6.7%
  - Disagree: 1 — 1.3%
  - Strongly disagree: 0 — 0.0%
  - Total: 75 — 100.0%
- 2. How would you describe the seniority of your current position compared to the position you held at the time of your JISPA admission?
  - Lower: 0 — 0.0%
  - Significantly higher: 16 — 21.3%
  - Slightly higher: 38 — 50.7%
  - About the same: 21 — 28.0%
  - Total: 75 — 100.0%

### Questionnaire results (ANNEX IX — Sponsoring agencies)
- Selected response shares reported (response counts shown where provided):
  - For institutional evaluation of JISPA alumni performance compared with other staff without a master's degree from a foreign university:
    - Somewhat as effective / Way more effective responses appear in the provided results (response counts and percent fragments present in source material).
  - On whether institutions are willing to allow additional junior staff to participate in JISPA:
    - Yes: 11 — 100.00% (presentation in source shows "1100.00%19" and related formatting; available counts indicate institutional willingness among respondents in the annex).
  - On whether institutions have needs for staff with a doctoral degree:
    - Yes: 18 — 89.47%
    - No: 2 — 10.53%
  - On whether institutions are willing to send staff for doctoral study:
    - Yes: 11 — 100.00% (formatting in source indicates affirmative response among those reporting).
- Note: Annex IX presents sponsoring-agency questionnaire results with response percentages and totals; source formatting includes segmented response items and counts.

### Annexes and site visits
- Agencies/universities visited (selected):
  - Tokyo, Japan: Hitotsubashi University (February 16); National Graduate Institute for Policy Studies (February 18); University of Tokyo (February 18 and May 30).
  - Niigata, Japan: International University of Japan (February 17).
  - Country visits included Cambodia (March 28), Myanmar (March 30), Indonesia (April), and others listed in the annex.
- JISPA Alumni in senior positions (ANNEX XI — as of June 2016):
  - Annex XI lists JISPA alumni in senior positions by country and admission year.
  - Senior positions are defined as equivalent to or above deputy director-general (or department director level when there is no director-general level) or parliament members.
  - Numbered entries in the annex run through No. 56, with alumni from Cambodia, China, Indonesia, Kazakhstan, Kyrgyz Republic, Lao P.D.R., Mongolia, Myanmar, Sri Lanka, Uzbekistan, Vietnam, and others, showing positions such as Deputy Director General, Deputy Governor, Deputy Minister, Governor, Director General, Member of Parliament, Consul General, Rector, Deputy Secretary General, Chairman and CEO, and senior advisory roles.

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_Source: https://www.imf.org/-/media/files/oap/jispa/2024/jispa-review2016.pdf_