Annual World Bank Conference on Development Econmics 1998 (Annual World Bank Conference on Development Economics)

813 Pages·1999·3.68 MB·English

by  Boris Pleskovic

Annual World Bank Conference On
title:
Development Economics, 1998
author: Stiglitz, Joseph E.
publisher: World Bank
isbn10 | asin: 0821343211
print isbn13: 9780821343210
ebook isbn13: 9780585281254
language: English
Developing countries--Economic
conditions--Congresses, Developing
countries--Economic policy--Congresses,
subject
Developing countries--Politics and
government--Congresses, Ethnic relations--
Congresses.
publication date: 1999
lcc: HC59.69.W66 1998eb
ddc: 330.9172/4
Developing countries--Economic
conditions--Congresses, Developing
countries--Economic policy--Congresses,
subject:
Developing countries--Politics and
government--Congresses, Ethnic relations--
Congresses.
Page i
Annual World Bank Conference on
Development Economics 1998
Edited by Boris Pleskovic and Joseph E. Stiglitz
The World Bank
Washington, D.C.
Page ii
ã 1999 The International Bank for Reconstruction and Development /
THE WORLD BANK
1818 H Street NW, Washington, DC 20433, U.S.A.
All rights reserved. Manufactured in the United States of America.
First printing April 1999
Second printing September 1999
The Annual World Bank Conference on Development Economics is a
forum for discussion and debate of important policy issues facing
developing countries. The conferences emphasize the contribution that
empirical and basic economic research can make to understanding
development processes and to formulating sound development
policies. Conference papers are written by researchers in and outside
the World Bank. The conference series was started in 1989.
Conference papers are reviewed by the editors and are also subject to
internal and external peer review. Some papers were revised after the
conference, sometimes to reflect the comments by discussants or from
the floor. Discussants' comments were not revised. As a result,
discussants' comments may refer to elements of the paper that no
longer exist in their original form. Summaries are included of floor
discussions, which attempt to convey the sense and substance of what
was discussed, interventions by participants from the floor, and
responses by panelists. These summaries have not been reviewed by
the presenters, the discussants, or other participants. Participants'
affiliations identified in this volume are as of the time of the
conference, April 20-21,1998.
The findings, interpretations, and conclusions expressed in this paper
are entirely those of the authors and should not be attributed in any
manner to the World Bank, to its affiliated organizations, or to
members of its Board of Executive Directors or the countries they
represent. The World Bank does not guarantee the accuracy of the
data included in this publication and accepts no responsibility for any
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Meta de Coquereaumont, Paul Holtz, and Barbara Karni edited this
volume. Wendy Guyette prepared the cover and layout, and Donna
Allen and Daphne Levitas proofread the book. All are with
Communications Development Incorporated.
Annual World Bank Conference on Development Economics is
indexed in Human Resources Abstracts, the Index of Economic
Articles, the Index of Social Science and Humanities Proceedings, the
Index to International Statistics, the Public Affairs Information
Service, Sage Public Administration Abstracts, the Standard
Periodical Directory, and Ulrich's International Periodicals Directory
and online by ABI/INFORM and DIALOG.
ISSN 1020-4407
ISBN 0-8213-4321-1
Page iii
CONTENTS
Introduction 1
Boris Pleskovic and Joseph E. Stiglitz
Opening Address 9
Knowledge for Development: Economic Science,
Economic Policy, and Economic Advice
Joseph E. Stiglitz
Welcoming Address 59
Rethinking Development-Principles, Approaches, and
Projects
James D. Wolfensohn
Keynote Address 63
Financial Globalization: Can National Currencies
Survive?
James Tobin
ABCDE: Past Ten Years, Next Ten Years 77
Stanley Fischer
Is Geography Destiny? 87
The Role of Geography in Development 89
Paul Krugman
Comments
Paul A. David
108
James E. Rauch
118
Floor Discussion 124
Page iv
Geography and Economic Development 127
John Luke Gallup and Jeffrey D. Sachs with Andrew D.
Mellinger
Comments
J. Vernon Henderson
179
Anthony J. Venables
183
Floor Discussion 187
Competition and Regulation Policy in Developing 189
Countries
Regulatory Priorities for Infrastructure Sector Reform in 191
Developing Countries
Paul L. Joskow
Comments
Isher Judge Ahluwalia
224
Kotaro Suzumura
228
Floor Discussion 233
Competition, Information, and Development 237
Jean-Jacques Laffont
Comments
Ana Julia Jatar
258
Richard Schmalensee
262
Floor Discussion 267
Financial Market Liberalization in Developing Countries: 271
Theory and Practice
International Adjustment in the Face of Imperfect 273
Financial Markets
Bruce Greenwald
Comments
Gerard Caprio Jr.
290
Ronald McKinnon
294
Floor Discussion 300
Financial Liberalization and Financial Fragility 303
Asli Demirgüç-Kunt and Enrica Detragiache
Comments
Charles A.E. Goodhart
332
Thomas Hellmann
335
Floor Discussion 340