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The UN and the Bretton Woods Institutions
The UN and the Bretton Woods Institutions New Challenges for the Twenty-First Century Edited by Mahbub ul Haq Special Adviser to UNDP Administrator New York Richard Jolly Deputy Executive Director UNICEF Paul Streeten Emeritus Professor Boston University and Khadija Haq Executive Director North South Roundtable New York Contents Preface List of Abbreviations Conference Participants and Contributors Part 1 Overview Part II The Bretton Woods System I An Historical Perspective H. W Singer 2 The Vision and the Reality Mahhub ul Hag 3 A Changing Institution in a Changing World Alexander Shakoes 4 The Keynesian Vision and the Developing Countries La! Jayawardena 5 An African Perspective on Bretton Woods Adebayo Adedeji A West European Perspective on Bretton Woods Andrea Boltho Part III Reforms in the UN and the BreROn Woods Institutions 7 A Comparative Assessment Catherine Gwin 8 A Blueprint for Reform Paul Streeten A New International Monetary System for the Futu Carlos Massad 10 On the Modalities of Macroeconomic Policy Coordination John Williamson Part IV Priorities for the Twenty-first Century I I Gender Priorities for the Twenty-first Century Khadija Haq 12 Biases in Global Markets: Can the Forces of Inequity and Marginalization be Modified? Frances Stewart 13 Poverty Eradication and Human Development: Issues for the Twenty-first Century Richard folly 14 Role of the Multilateral Agencies after the Earth Summit Maurice Williams 15 New Challenges for Regulation of Global Financial Markets Stephany Griffith-Jones 16 A New Framework for Development Cooperation Mahbub ul Hay Preface With the end of the cold war, the United Nations is experiencing a new lease on life. -
Boston University College of Arts & Sciences
Boston University College of Arts & Sciences Economic News NEWSLETTER FOR THE DEPARTMENT OF ECONOMICS ● SUMMER 2021 A Letter from the Chair Dear Students, Parents, Alumni, Colleagues, and Friends, It has been a remarkable year for BU Economics. First, Professor Bart Lipman completed an eight-year term as chair. Thank you for all of your work on behalf of the department! Like all other facets of life, our day-to-day work was dominated by the pandemic. It had an enormous effect on collegiate life. I am incredibly proud of our faculty and students for making this year work. We navigated remote teaching, hybrid teaching, masks and video cam- eras, COVID tests, and remote staff—all while delivering a first-class education in economics. It was a remarkable group effort on behalf of instructors, staff, and students. I am so apprecia- tive to work with this group of people. We continued to grow to well over 1,000 majors, 200 of which are in our economics-math joint major that is surging in popularity. Our PhD and master’s program maintained very healthy numbers despite the difficulties our students abroad faced in coming to campus. We kept up our schedule of public lectures despite the pandemic. Professor Ann E. Har- rison, Bank of America Dean of the Haas School of Business at the University of California, Berkeley, gave a provocative Paul Streeten Distinguished Lecture in Global Development Policy about the role of industrial policy in development strategies. And we were delighted to have Professor Gilat Levy give the Robert Rosenthal Memorial Lecture. -
Understanding Development and Poverty Alleviation
14 OCTOBER 2019 Scientific Background on the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2019 UNDERSTANDING DEVELOPMENT AND POVERTY ALLEVIATION The Committee for the Prize in Economic Sciences in Memory of Alfred Nobel THE ROYAL SWEDISH ACADEMY OF SCIENCES, founded in 1739, is an independent organisation whose overall objective is to promote the sciences and strengthen their influence in society. The Academy takes special responsibility for the natural sciences and mathematics, but endeavours to promote the exchange of ideas between various disciplines. BOX 50005 (LILLA FRESCATIVÄGEN 4 A), SE-104 05 STOCKHOLM, SWEDEN TEL +46 8 673 95 00, [email protected] WWW.KVA.SE Scientific Background on the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2019 Understanding Development and Poverty Alleviation The Committee for the Prize in Economic Sciences in Memory of Alfred Nobel October 14, 2019 Despite massive progress in the past few decades, global poverty — in all its different dimensions — remains a broad and entrenched problem. For example, today, more than 700 million people subsist on extremely low incomes. Every year, five million children under five die of diseases that often could have been prevented or treated by a handful of proven interventions. Today, a large majority of children in low- and middle-income countries attend primary school, but many of them leave school lacking proficiency in reading, writing and mathematics. How to effectively reduce global poverty remains one of humankind’s most pressing questions. It is also one of the biggest questions facing the discipline of economics since its very inception. -
Randomized Controlled Experiments to End Poverty? a Sociotechnical Analysis
Anthropologie & développement 46-47 | 2017 Mythes sociotechniques et développement Randomized Controlled Experiments to End Poverty? A Sociotechnical Analysis Nassima Abdelghafour Electronic version URL: http://journals.openedition.org/anthropodev/611 DOI: 10.4000/anthropodev.611 ISSN: 2553-1719 Publisher Presses universitaires de Louvain Printed version Date of publication: 1 December 2017 Number of pages: 235-262 ISBN: 979-10-93476-05-6 ISSN: 2276-2019 Electronic reference Nassima Abdelghafour, « Randomized Controlled Experiments to End Poverty? », Anthropologie & développement [Online], 46-47 | 2017, Online since 01 June 2018, connection on 10 December 2020. URL : http://journals.openedition.org/anthropodev/611 ; DOI : https://doi.org/10.4000/anthropodev. 611 La revue Anthropologie & développement est mise à disposition selon les termes de la Licence Creative Commons Attribution 4.0 International. Randomized Controlled Experiments to End Poverty? A Sociotechnical Analysis Nassima Abdelghafour Lepietatio alatoie ou essai adois otôl E‘C est ue thode daluatio ispie des essais liiues, taspose à looie du deloppeet au dut des aes 2000. Rapidement devenue populaire, cette méthode est promue comme « ltalo-or » de laluatio dipat. Cet atile eaie u des peies E‘C, aluat lipat su lasetise solaie du traitement vermifuge administré aux élèves dans une région rurale du Kenya. À taes ltude de e as, il sagit de ette e idee les poessus pa lesuels les E‘C siposet oe ue patiue daluatio iotouale. E isistat su la podutio de résultats statistiquement non biaisés, les économistes défendant les E‘C disualifiet les autes thodes daluatio dipat, et aetuet lipotae disole lipat ausal due iteetio de leffet dautes fateus. Le tpe de peues poduites pa les E‘C egage aisi u ode dogaisation des pratiques de lutte contre la pauvreté fondé sur la mise en compétition des interventions. -
Development Economics Fall 2015 Economics 2390 Monday and Wednesday 1:00-2:30Pm Class Location: Sever Hall 102 Version: September 2, 2015
Development Economics Fall 2015 Economics 2390 Monday and Wednesday 1:00-2:30pm Class Location: Sever Hall 102 Version: September 2, 2015 Michael Kremer M-20, Littauer Center Department of Economics [email protected] Office Hours: Mondays 4:00-5:00 Email Jeanne Winner [email protected] for appointment Shawn Cole 271 Baker Library, HBS [email protected] Office Hours: By appointment (please email Brian O’Connor: [email protected]) Teaching Assistant: Jack Willis [email protected] Skype: Jack.J.Willis Office Hours: TBA Prerequisites: This will be a technical class and non-Ph.D. students are not permitted to enroll. Ph.D. students are required to have taken or be concurrently taking PhD level microeconomics and econometrics. If you are not a Ph.D. student in economics or public policy then please contact us before enrolling. This class contributes to the fulfillment of requirements for the Development field for Economics Ph.D. students Broad Overview: This class is intended to teach the foundations for doing research in Development Economics. As such it will teach in detail empirical methods and theoretical models which are applied widely across the discipline. Part 1 (taught by Michael Kremer) will set the scene for the class. It will begin with a look at global differences in living standards and then present classical empirical work in macro development which attempts to quantify the roles of differences in capital, human capital and productivity. Next the class will focus in on capital and introduce a research agenda which aims to bridge the gap between growth theory and modern micro development research. -
Esther Duflo
Policies, Politics: Can Evidence Play a Role in the Fight against Poverty? Esther Duflo The Sixth Annual Richard H. Sabot Lecture A p r i l 2 0 1 1 The Center for Global Development The Richard H. Sabot Lecture Series The Richard H. Sabot Lecture is held annually to honor the life and work of Richard “Dick” Sabot, a respected professor, celebrated development economist, successful internet entrepreneur, and close friend of the Center for Global Development who died suddenly in July 2005. As a founding member of CGD’s board of directors, Dick’s enthusiasm and intellect encouraged our beginnings. His work as a scholar and as a development practitioner helped to shape the Center’s vision of independent research and new ideas in the service of better development policies and practices. Dick held a PhD in economics from Oxford University; he was Professor of Economics at Williams College and taught previously at Yale University, Oxford University, and Columbia University. His contributions to the fields of economics and international development were numerous, both in academia and during ten years at the World Bank. The Sabot Lecture Series hosts each year a scholar-practitioner who has made significant contributions to international development, combining, as did Dick, academic work with leadership in the policy community. We are grateful to the Sabot family and to CGD board member Bruns Grayson for the support to launch the Richard H. Sabot Lecture Series. Previous Lectures 2010 Kenneth Rogoff, “Austerity and the IMF.” 2009 Kemal Derviş, “Precautionary Resources and Long-Term Development Finance.” 2008 Lord Nicholas Stern, “Towards a Global Deal on Climate Change.” 2007 Ngozi Okonjo-Iweala, “Corruption: Myths and Reality in a Developing Country Context.” 2006 Lawrence H. -
Interview with Esther Duflo
The tapestry behind Esther Duflo, “Peoples of the World,” was handcrafted by Japanese artist Fumiko Nakayama. It was donated by MIT alumnus Mohammed Abdul Latif Jameel, a major J-PAL funder. Esther Duflo The problems of poverty in the developing world are extreme, extensive and seemingly immune to solution. Charitable handouts, massive foreign aid, large construction projects and countless other well- intentioned efforts have failed to alleviate poverty for many in Asia, Africa and Latin America. Market- oriented fixes—improved regulatory efficiency and lower trade barriers —also have had limited effect. What does work? MIT economist Esther Duflo has spent the past 20 years intensely pursuing answers to that question. With randomized control experiments—a technique commonly used to test pharmaceuticals— Duflo and her colleagues investigate potential solutions to a wide variety of health, education and agricultural problems, from sexually transmitted diseases to teacher absenteeism to insufficient fertilizer use. Her work often reveals weaknesses in popular fixes and conventional wisdom. Microlending, for example, hasn’t proven the miracle its advocates espouse, but it can be useful in the right setting. Women’s empower- ment, though essential, isn’t a magic bullet. At the same time, she’s discovered truths that hold great promise. A slight financial nudge dramatically increased fertilizer usage in a western Kenya trial. Monitoring teacher attendance, combined with additional pay for showing up, decreased teacher absenteeism by half in -
The Capability Approach: Its Development, Critiques and Recent Advances
An ESRC Research Group The Capability Approach: Its Development, Critiques and Recent Advances GPRG-WPS-032 David A. Clark Global Poverty Research Group Website: http://www.gprg.org/ The support of the Economic and Social Research Council (ESRC) is gratefully acknowledged. The work was part of the programme of the ESRC Global Poverty Research Group. 1 The Capability Approach: Its Development, Critiques and Recent Advances By David A. Clark* Over the last decade Amartya Sen’s Capability Approach (CA) has emerged as the leading alternative to standard economic frameworks for thinking about poverty, inequality and human development generally. In countless articles and several books that tackle a range of economic, social and ethical questions (beginning with the Tanner Lecture ‘Equality of What?’ delivered at Stanford University in 1979), Professor Sen has developed, refined and defended a framework that is directly concerned with human capability and freedom (e.g. Sen, 1980; 1984; 1985; 1987; 1992; 1999). From the outset Sen acknowledged strong connections with Adam Smith’s (1776) analysis of ‘necessities’ and living conditions and Karl Marx’s (1844) concern with human freedom and emancipation. Later Sen (1993, p.46) recognised that ‘the most powerful conceptual connections’ (which he initially failed to appreciate) relate to Aristotle’s theory of ‘political distribution’ and his analysis of eudaimonia – ‘human flourishing’ (see Nussbaum, 1988; 1990). While the roots of the CA can be traced back to Aristotle, Classical Political Economy and Marx, it is possible to identify more recent links. For example, Sen often notes that Rawls’s Theory of Justice (1971) and his emphasis on ‘self-respect’ and access to primary goods has ‘deeply influenced’ the CA (Sen, 1992, p.8). -
Should the Randomistas (Continue To) Rule?
Should the Randomistas (Continue to) Rule? Martin Ravallion Abstract The rising popularity of randomized controlled trials (RCTs) in development applications has come with continuing debates on the pros and cons of this approach. The paper revisits the issues. While RCTs have a place in the toolkit for impact evaluation, an unconditional preference for RCTs as the “gold standard” is questionable. The statistical case is unclear on a priori grounds; a stronger ethical defense is often called for; and there is a risk of distorting the evidence-base for informing policymaking. Going forward, pressing knowledge gaps should drive the questions asked and how they are answered, not the methodological preferences of some researchers. The gold standard is the best method for the question at hand. Keywords: Randomized controlled trials, bias, ethics, external validity, ethics, development policy JEL: B23, H43, O22 Working Paper 492 August 2018 www.cgdev.org Should the Randomistas (Continue to) Rule? Martin Ravallion Department of Economics, Georgetown University François Roubaud encouraged the author to write this paper. For comments the author is grateful to Sarah Baird, Mary Ann Bronson, Caitlin Brown, Kevin Donovan, Markus Goldstein, Miguel Hernan, Emmanuel Jimenez, Madhulika Khanna, Nishtha Kochhar, Andrew Leigh, David McKenzie, Berk Özler, Dina Pomeranz, Lant Pritchett, Milan Thomas, Vinod Thomas, Eva Vivalt, Dominique van de Walle and Andrew Zeitlin. Staff of the International Initiative for Impact Evaluation kindly provided an update to their database on published impact evaluations and helped with the author’s questions. Martin Ravallion, 2018. “Should the Randomistas (Continue to) Rule?.” CGD Working Paper 492. Washington, DC: Center for Global Development. -
Library National Institute of Public Finance and Policy 18/2- Satsang Vihar Marg, Special Institutional Area
LIBRARY NATIONAL INSTITUTE OF PUBLIC FINANCE AND POLICY 18/2- SATSANG VIHAR MARG, SPECIAL INSTITUTIONAL AREA, New Delhi-110067 1 CURRENT AWARENESS SERVICE [ Dr. T.A. Bhavani’s Collection (Books & Reports) ] [ Volume 16; Issue No. 1&2; January & February 2019] CONTENTS SUBJECT HEADING PAGE NO. AGRICULTURE 1 BANKS AND BANKING 1 BUSINESS ECONOMICS 1 BUSINESS ENTERPRISES 2 COMMODITY CONTROL 2 COMMUNICATION 2 COMPETITION 2 CORPORATE GOVERNANCE 3 DISASTERS 3 ECOLOGY 3 ECONOMETRICS 3 ECONOMIC DEVELOPMENT 4 ECONOMIC GROWTH 7 ECONOMIC INTEGRATION 7 ECONOMIC POLICY 8 ECONOMIC REFORMS 8 ECONOMIC THOUGHT 8 ECONOMICS 8 EMPLOYMENT AND LABOUR 10 ENVIRONMENTAL ECONOMICS 11 FINANCIAL INSTITUTIONS 12 GAME THEORY 12 HEALTH CARE 12 INDUSTRIAL DEVELOPMENT 13 INDUSTRIAL ORGANISATION 15 INDUSTRIAL PRODUCTION 15 INDUSTRIALIZATION 15 INDUSTRY 16 INFORMATION TECHNOLOGY 16 INTERNATIONAL RELATIONS 16 INVESTMENTS 17 LABOUR AND EMPLOYMENT 17 LAW 18 LITERATURE 19 MACROECONOMICS 19 MANAGEMENT 20 MATHEMATICAL ECONOMICS 21 MATHEMATICAL STATISTICS 21 MATHEMATICS 21 MICROECONOMICS 22 MICROFINANCE 23 MONETARY POLICY 23 POLITICAL ECONOMY 23 POLITICS AND GOVERNMENT 23 POLITICAL ECONOMY 24 POVERTY 24 PRIVATISATION 24 PUBLIC ENTERPRISES 24 RURAL DEVELOPMENT 25 SOCIAL AND WELFARE ECONOMICS 25 SOCIALISM 25 TRADE 26 WORLD ECONOMY 26 AUTHOR INDEX 27 2 AGRICULTURE 1. Andhra University, Department of Cooperation and Applied Economics Agricultural growth, rural development and poverty: Selected writings of Prof. G. Parthasarathy / Andhra University, Department of Cooperation and Applied Economics.. - Visakhapatnam: Andhra University 1988. x,560; 338.18 An2A M8 50671 ** 1. Agriculture 2. Agricultural development 3. Rural development 4. Poverty. BANKS AND BANKING 2. Corporate strategies: New age weapons for excellence / edited by P. Mohana Rao and Trilok Kumar Jain. -
The Nobel Prize in Economics Goes to 3 Groundbreaking Anti-Poverty Researchers in the Last 20 Years, Development Economics Has Been Transformed
11/1/2019 Economics Nobel goes to groundbreaking antipoverty researchers - Vox The Nobel Prize in economics goes to 3 groundbreaking anti-poverty researchers In the last 20 years, development economics has been transformed. These researchers are the reason why. By Kelsey Piper Oct 14, 2019, 3:30pm EDT Rafael Reif, center, president of Massachusetts Institute of Technology, introduces Esther Duflo, left, and Abhijit Banerjee, who share a 2019 Nobel Prize in Economics with Michael Kremer, during a press conference at Massachusetts Institute of Technology on October 14, 2019, in Cambridge, Massachusetts. | Scott Eisen/Getty Images Finding the best ways to do good. Made possible by The Rockefeller Foundation. The Nobel Prize committee has announced the 2019 winners of the prize in economics: MIT economists Esther Duflo and Abhijit Banerjee, and Harvard economist Michael Kremer. Duflo, at age 46, is the youngest person ever to win a Nobel Prize in economics and only the second woman. The three researchers work on global poverty, studying interventions in a range of areas: combating teacher absenteeism, direct cash transfers to the extreme poor, policing https://www.vox.com/future-perfect/2019/10/14/20913928/nobel-prize-economics-duflo-banerjee-kremer 1/5 11/1/2019 Economics Nobel goes to groundbreaking antipoverty researchers - Vox drunk driving, and studying the effects of access to textbooks on students, among others. They’ve also made extraordinary contributions to developing the methods used to study these subjects, with a focus on randomized controlled trials (RCTs). In a randomized trial, the intervention is delivered in one area but not to a control area, enabling researchers to identify which effects are the result of the intervention. -
Confronting Planetary Emergencies – Solving Human Problems
NEW APPROACHES TO ECONOMIC CHALLENGES (NAEC) Confronting Planetary Emergencies – Solving Human Problems Biographies Opening Session Session 1: Economic Thinking and Acting after Covid-19 Session 2: Session 2: NAEC - Rejuvenating the Debate Session 3: Lessons from Covid-19 to Address Future Threats Session 4: Closing Session 9 October 2020 Virtual meeting at the OECD Conference Centre, Paris Further information: William Hynes – [email protected] NEW APPROACHES TO ECONOMIC CHALLENGES (NAEC) Angel Gurria Secretary General of the OECD As Secretary-General of the Organisation of Economic Co-operation and Development (OECD) since 2006, Angel Gurría has firmly established the Organisation as a pillar of the global economic governance architecture including the G7, G20 and APEC, and a reference point in the design and implementation of better policies for better lives. He has broadened OECD’s membership with the accession of Chile, Estonia, Israel, Latvia and Slovenia, and has made the Organisation more inclusive by strengthening its links with key emerging economies. Under his watch, the OECD is leading the effort to reform the international tax system, and to improve governance frameworks in anti-corruption and other fields. He has also heralded a new growth narrative that promotes the well-being of people, including women, gender and youth, and has scaled up the OECD contribution to the global agenda, including the Paris Agreement on Climate Change and the adoption of the Sustainable Development Goals Born in Mexico, Mr. Gurría came to the OECD following a distinguished career in public service in his country, including positions as Minister of Foreign Affairs and Minister of Finance and Public Credit in the 1990s.