New PDF release: Annual World Bank Conference on Development Economics, Part

By World Bank

ISBN-10: 0821332805

ISBN-13: 9780821332801

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Additional resources for Annual World Bank Conference on Development Economics, Part 489

Example text

The Bank's fifty years of experience, our long-term relationship with virtually every developing country, our range of financial interventions, and our research and analytical capacity put us in a unique position to help them with that question. But our effectiveness in doing so hinges on continually replenishing our knowledge base, holding ourselves to the highest intellectual standards, and opening up the institution to the views-and yes, the scrutiny-of the leaders in the knowledge business.

We now have enough evidence to say with reasonable confidence that globalization is here to stay. But we need to think more about the implications of that fact-for the Bank and, particularly, for our primary clients, the 4 billion people who live in the world's low- and middle-income countries. The new global economy presents an array of questions to which we will admit-if we are honest-that we do not have all the answers: Yes, private capital flows to developing countries have quadrupled so far in this decade.

The panel brings together three experts, each drawing attention to different aspects of the topic. Following a brief introduction by Michael Bruno, Stanley Fischer asks whether macroeconomic policy in transition economies is too tight or too loose and identifies the most serious obstacles to high and sustainable growth. Jana Matesová examines the relationship between mass privatization and restructuring. Susan Rose-Ackerman discusses the growing problem of corruption in transition economies. The presentations were followed by a floor discussion moderated by Michael Bruno.

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Annual World Bank Conference on Development Economics, Part 489 by World Bank


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