By François Bourguignon, Boris Pleskovic, Jacques van der Gaag
The yearly global financial institution convention on improvement Economics is likely one of the world's best-known sequence of meetings for the presentation and dialogue of recent wisdom on improvement. The convention presents a discussion board for the world's best improvement thinkers to percentage new wisdom and concepts. In 1999, in reputation of Europe's pivotal function within the provision of improvement guidance and which will convey the realm Bank’s examine on improvement into shut touch with ecu views, the realm financial institution created a distinctively ecu platform for debate on improvement matters. The 7th Annual international financial institution convention on improvement Economics in Europe was once held in Amsterdam, the Netherlands, might 23–24, 2005. The convention used to be coorganized through the govt of the Netherlands and the area financial institution. The subject matter of the convention used to be “Securing improvement in an volatile global. during this quantity: creation via Fran?ois Bourguignon, Boris Pleskovic, and Jacques van der Gaag; welcome deal with through Jean-Fran?ois Rischard; beginning deal with via Agnes van Ardenne-van der Hoeven; keynote addresses by means of Fran?ois Bourguignon, Hisashi Owada, Gerrit Zalm, and Ernesto Zedillo; papers by means of Stefan Dercon, Patrick Guillaumont, and Joep Lange; and reviews via Duncan eco-friendly, Paul Mosley, Fran?oise Ndayishimiye, Henk Rijckborst, and Richard Wilcox.
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Additional resources for Annual World Bank Conference on Development Economics 2006, Europe: Amsterdam Proceedings--Securing Development in an Unstable World
Of course, workfare programs have been implemented in a number of countries where means-tested transfers are developing. However, they are still limited and means-tested programs cannot really be developed without the administrative ability to actually observe individual incomes. It is, therefore, necessary to promote market insurance instruments such as weather insurance, micro credit, saving incentives, and so on. However, it is unlikely that these various safety nets will be able to cover all the population if there is a macro crisis and a need for massive resources, unless KEYNOTE ADDRESS: STABILITY, SECURITY, AND DEVELOPMENT | 31 FIGURE 7.
This is an 32 | FRANÇOIS BOURGUIGNON additional argument in favor of stronger and more effective institutions and policy regimes in low-income countries. On the donors’ side, there should be a renewed emphasis on higher levels of aid and the need for innovative modifications in the way aid is delivered. To me, it is a key condition for lifting low-income countries out of the slow growth–high volatility trap. Here I can only join Minister van Ardenne’s message for more efforts by the donor community, and call for the strongest support of the international compact signed by the world community at the 2002 International Conference on Financing for Development in Monterrey.
Crisis volatility is sometimes the result of shocks that have not been managed adequately, not the sole result of external causes. In line with this argument, recent research4 has shown that GDP volatility across countries depends not only on the level of income of a country but also on the strength of its economic institutions, the development of its financial sector (with declining returns), and its ability to implement countercyclical macroeconomic policies. A World Bank study shows that volatility is higher in low-income countries with limited and undiversified exports.
Annual World Bank Conference on Development Economics 2006, Europe: Amsterdam Proceedings--Securing Development in an Unstable World by François Bourguignon, Boris Pleskovic, Jacques van der Gaag