Annual World Bank Conference on Development Econmics 1998 (Annual World Bank Conference on Development Economics) PDF
Preview Annual World Bank Conference on Development Econmics 1998 (Annual World Bank Conference on Development Economics)
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 consequence of their use. The boundaries, colors, denominations, and other information shown on any map in this volume do not imply on the part of the World Bank Group any judgment on the legal status of any territory or the endorsement or acceptance of such boundaries. The material in this publication is copyrighted. The World Bank encourages dissemination of its work and will normally grant permission promptly. Permission to photocopy items for internal or personal use, for the internal or personal use of specific clients, or for educational classroom use is granted by the World Bank, provided that the appropriate fee is paid directly to Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, U.S.A., telephone 978-750-8400, fax 978-750-4470. Please contact the Copyright Clearance Center before photocopying items. For permission to reprint individual articles or chapters, please fax your request with complete information to the Republication Department, Copyright Clearance Center, fax 978-750-4470. All other queries on rights and licenses should be addressed to the World Bank at the address above or faxed to 202-522-2422. 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
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