Boris Pleskovic, Nicholas Stern's Annual World Bank Conference on Development Economics 2003: PDF

By Boris Pleskovic, Nicholas Stern

ISBN-10: 0585465630

ISBN-13: 9780585465630

ISBN-10: 0821353861

ISBN-13: 9780821353868

This annual convention is a world accumulating of the world's best students and improvement practitioners. one of the attendees are members from constructing international locations, universities, imagine tanks, NGOs, and foreign monetary associations. those papers be aware of concerns like exchange and poverty; Africa's destiny; rural or commercial improvement; schooling and empowerment; and funding weather and productiveness.

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The Bank and its IDA partners already use the Country Policy and Institutional Assessment (CPIA) indexes (see table 7 for their components) to guide IDA allocations. 4 These ratings have also been used for internal Bank analysis and some cross-country regressions. In choosing our indicators for both processes and outcomes, we must beware of ending up with a laundry list of 25 items in an unstructured and equally weighted way. We must focus on the measures that are most important. For outcomes, we can focus on MDGs; for processes or intermediate goals, we must focus on the link between processes and outcome.

But openness does not help explain which of these outcomes occurs. The microeconomic evidence from a large number of individual liberalization episodes also shows that there is no systematic relationship between trade liberalization and income distribution. Trade policy is only one of many determinants of growth and poverty reduction. Trade openness has important positive spillovers on other aspects of reform so that the correlation of trade with other pro-reform policies speaks to the advantages of making openness a primary part of the reform package.

Actions (or “necessary steps”) deemed to be crucial for effectiveness of programs—these have often been called conditionalities—can also strengthen the arm of reformers. They cannot substitute for country ownership, but when a country has demonstrated a commitment to reform (say, by undertaking some difficult decisions such as a currency devaluation), then these “necessary steps” made suitably simple and country-specific could enhance commitment to the reform program (Devarajan, Dollar, and Holmgren 2002).

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Annual World Bank Conference on Development Economics 2003: The New Reform Agenda by Boris Pleskovic, Nicholas Stern


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