Annual World Bank Conference on Development Economics-Europe by Nicholas Stern, Bertil Tungodden, Ivar Kolstad

By Nicholas Stern, Bertil Tungodden, Ivar Kolstad

The yearly global financial institution convention on improvement Economics (ABCDE) brings jointly the world's most interesting improvement thinkers to provide their views and concepts. lately, a parallel, moment convention has been held in Europe with an analogous aim of increasing the circulate of principles among thinkers, practitioners, and policymakers within the box of overseas improvement. ABCDE Europe 2003 provides chosen papers from the fourth annual ABCDE Europe conferences, held June 24-26, 2002, in Oslo, Norway. Hosted via the area financial institution and the Chr. Michelsen Institute, greater than 350 eminent students and practitioners from 50 international locations met to planned at the subject matter 'Towards Pro-Poor Policies'. The papers from periods on relief, associations, and globalization offer either a common evaluation of hyperlinks among poverty, inequality, and progress, and deal with particular issues corresponding to the seriously Indebted bad nations Initiative for debt aid. All think about the position of guidelines and associations in improvement and poverty relief. during this quantity: an outline by means of Bertil Tungodden, Ivar Kolstad, and Nicholas Stern; papers on relief by way of Nicholas Stern, David Roland-Holst and Finn Tarp, Stephan Klasen, Lisa Chauvet and Patrick Guillaumont, and Jean-Pierre grasp, Mireille Razafindrakoto, and Fran?ois Roubaud; papers on associations by means of Mariano Tommasi, Mushtaq Khan, David Dunham, Stanley Engerman and Kenneth Sokoloff, Karla Hoff and Joseph Stiglitz; and papers on globalization through Jomo Sundaram, John Dunning, Antonio Spilimbergo, Juan Luis Londo?o, and Miguel Szekely, Andr?s Solimano, and Oded Stark.

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With billions of people still living in poverty and 2 billion more to be added to the world’s population in the coming generation, the scale of the poverty challenge is so great that we cannot afford to postpone action. We have never had as great an opportunity, or as daunting a responsibility, to make major advances in development as we do today. Notes 1. Of course, democracy is only one element of governance, and it may not be the most important one for growth. China and Vietnam—both of which underwent rapid growth and poverty reduction in the 1990s—have made less progress on democratic governance than on some other aspects of governance.

Probably most important, as indicated in the discussion of scaling up, are the analysis and ideas that the Bank and other development agencies bring to the table, but these ideas are of limited utility without country capacity to adapt and implement them. That capacity is embodied in institutions and people; thus the second instrument is capacity building. Neither of these first two instruments emphasizes the transfer of financial resources, but of course financial support is an important tool for development assistance.

Historically, even though income and nonincome welfare improvements have been correlated, major advances and declines in nonincome indicators have been observed that have been independent of income. At the same time, projected income growth alone will not be enough to achieve nonincome targets at acceptably rapid rates. Specific and focused action to achieve the other goals is required, over and above efforts to promote income growth. Taking the Measure of the Poverty Challenge Achieving these ambitious goals will require that we scale up our efforts.

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