Download e-book for iPad: Annual World Bank Conference on Development Economics, Part by World Bank

By World Bank

ISBN-10: 0821341154

ISBN-13: 9780821341155

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When in June 1985 he was appointed to the small group charged with developing a stabilization program, the moment met the man. He became the intellectual leader of the group, and within less than a monthof extraordinary, intense, creative effortPrime Minister Shimon Peres's coalition cabinet had accepted the group's plan. The theory was simple: stabilization would require cutting the budget deficit and tightening monetary policy. But to reduce the risk of unemployment, inflation had to be addressed using a fixed exchange rate and direct measures to contain wage and price increases.

How should incentives in the public sector be structured? And what are the relationships among economic growth, poverty, and environmental sustainability? The keynote address by Joseph E. Stiglitz provides a general framework for the discussions that follow. He sets out an agenda for development for the twenty-first century that tempers optimism about the possibilities for economic success with the sober reality of the need to adhere steadfastly to appropriate policies. The articles expand on some of the themes Stiglitz outlines.

How we can assess our activities? How can out clients assess their activities? How can we best measure development impact? This is a key area for the research agenda of the future. Finally I would like to take a moment to remember Michael Bruno. As many of you know, Michael came to the Bank after a very distinguished career as professor of economics at Hebrew University and governor of the Bank of Israel; honorary member of the American Academy of Arts and Sciences and the American Economic Association; president of the Econometric Society and the International Economic Association; visiting professor at Harvard, MIT, and the London School of Economics; and author of numerous books and articles.

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