gdn2011 « GDNet Blog

Whither macro-prudential policies after the crisis?

January 15, 2011 by areyes85 Leave a comment

The session, Financial Crisis and the role of Macro-Prudential Policies, sponsored by the World Bank Institute, focused on the role of macro-prudential policies, regulation and financial supervision in the post-crisis scenario. As was proven by the emergence of the crisis, traditional macro-prudential regulations were insufficient; hence, there is room for discussion of new and innovative approaches that may help to achieve financial stability.

The session showcased various innovative viewpoints on prudential policies to deal with the adverse changes in macroeconomic and financial conditions, as well as systemic risk. The session highlighted the determinants and tools that can be used for identifying, analysing and curtailing the next possible financial crisis. The panellists represented both national Central Banks and International Financial Institutions (IFIs).

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Filed under 12th Annual Conference, Conferences and Events, GDN Annual Conference, Parallel Session Tagged with en, financial crisis, gdn2011, imf, world bank

‘Context is King’ in bridging research and policy

January 15, 2011 by meganll2011 1 Comment

Research Shaping Policy Session

The new buzzword around the world is ‘evidence-based policymaking’. But how effectively does research reach and inform policies in the real world, and what is the role of think tanks in bridging this divide? The Directors of three Think Tanks in Colombia, Chile and Equador shared tactical approaches in a session entitled Research Shaping Policy: Latin America’s Experience, and lived up to their reputation for ‘fierce debate’.

The GDNet-convened session highlighted how crucial the political context is in shaping the effectiveness of think tank interventions in a country. For Orazio Belletini, Executive Director of FARO in Equador, rapid turnover of politicians is a constant problem: Ministers of Finance last an average of only six months in his country. Information is scarce, dispersed, highly technical and difficult for policymakers to use. “The political landscape is characterised by ideological fragmentation and volatile coalitions”, he said. “By the time a researcher has finished his policy paper, the Minister interested in the results is no longer in office”.

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Filed under 12th Annual Conference, Conferences and Events, GDN Annual Conference, Parallel Session Tagged with cieplan, en, evidence-based policy, faro, fedesarrollo, gdn2011, latin america

El cambiante escenario de la cooperación internacional: una visión geopolítica

January 15, 2011 by areyes85 Leave a comment

Helen Milner

Durante la tercera sesión plenaria de la 12ava Conferencia Anual del GDN, la profesora Helen Milner, directora del Centro Niehaus de Globalización y Gobernanza en la Escuela Woodrow Wilson School de Princeton, se refirió a la cooperación internacional para el desarrollo desde una perspectiva geopolítica. A diferencia de los anteriores participantes de alto perfil, la Dra. Milner viene del mundo de la Ciencia Política. En su presentación sostuvo que la cooperación internacional es una parte integral de la política exterior de los países, y explicó cómo los cambios en el sistema internacional están transformando esta ayuda.

Milner inició por bosquejar la historia de la cooperación internacional y ubicar su inicio en el Plan Marshall para la reconstrucción de Europa. Destacó como los donantes tradicionales (EE.UU., Japón, Europa occidental) durante los últimos 20 años han creado un “régimen” para de Cooperación Internacional a través de acuerdos, tales como: los Principios DAC, la Declaración de Paris, el Conceso de Monterrey, las Metas del Milenio y la Agenda Accra. Sin embargo, anotó nuevos donantes, como China, Brasil e India no parecen estar siguiendo estas directrices.

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Filed under 12th Annual Conference, Conferences and Events, GDN Annual Conference, Plenary Session Tagged with aid, china, DAC principles, es, FDI, gdn2011, mdgs, Paris Declaration

Which Foreigners Are Worth Wooing? A Meta-Analysis of Vertical Spillovers from FDI

January 15, 2011 by Andrew Clappison Leave a comment

During the GDNet Awards and Medals Finalists Communications training that took place on the 11-12 January, 2010 participants were asked to write a blog to capture the key issues underpinning their work.

The following blog post is by Tomáš Havránek.

Developing and transition countries try to attract foreign investors. Some give them money, some give them tax incentives. And the most important reason behind these subsidies is that policy-makers believe that FDI has positive effects on domestic firms. Recently, researchers in this area have been focusing especially on knowledge transfer from foreign investors to their local suppliers.

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Filed under 12th Annual Conference, Awards and medals, Conferences and Events, GDN Annual Conference Tagged with en, FDI, gdn2011, Tomáš Havránek

Tool to rationalize hometown investment by overseas Filipinos eyed

January 15, 2011 by Andrew Clappison Leave a comment

Alvin Ang and Jeremaiah Opiniano

During the GDNet Awards and Medals Finalists Presentation Skills Training that took place on the 11-12 January, participants were asked to write a blog to capture the key issues underpinning their work.

We feature here a blog written by Alvin Ang and Jeremaiah Opiniano, from the University of Santo Tomas Research Cluster on Culture, Education and Social Issues in the Philippines, who were last night declared the winner of the Japanese Award for Outstanding Research on Development (ORD).

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Filed under 12th Annual Conference, Conferences and Events, GDN Annual Conference, Parallel Session Tagged with development financing, en, gdn2011, philippines, remittances

La segunda plenaria de la 12va Conferencia de Desarrollo Global del GDN abordó el tema de replantear las micro-finanzas

January 15, 2011 by areyes85 Leave a comment

Victor Murinde

Durante muchos años, las micro-finanzas se han percibido como una especie de “varita mágica” que permite elevar el ingreso y el consumo de los individuos de bajos ingresos, ayudando así a hacer frente a la pobreza. Sin embargo, para algunos de sus partidarios, las micro-finanzas no se tratan de ingresos o consumo, sino más bien de libertad y autonomía (Rich Rosenberg CGAP). No obstante, la percepción de las micro-finanzas está evolucionando.

Un estudio desarrollado sobre el impacto de las micro-finanzas en el sur de la India, presentado por el Prof. Dean Yang, profesor asociado de la Universidad de Michigan, muestra que el impacto de los esquemas de microcrédito son diferentes entre poblaciones. Él encontró que aquellos que ya tienen empresas deben invertir en bienes duraderos y restringir su consumo, mientras que los que no tienen o quieren invertir en negocios pueden consumir más. Lo anterior prueba que las micro-finanzas no son la “varita mágica” como sus partidarios argumentan. Read more of this post

Filed under 12th Annual Conference, Conferences and Events, GDN Annual Conference, Parallel Session Tagged with development financing, es, gdn2011, microfinance

Financial Inclusion for Development: How to get Banking to the Poorest?

January 15, 2011 by areyes85 1 Comment

Guillermo Perry

The panelists in the third Plenary Session of GDN’s 12^th Annual Conference addressed how the financial sector can support the achievement of the Millennium Development Goals (MDGs), by means of improving financial depth and access, while paying close attention to the formulation of relevant policies and the role played by its main actors.

The first panelist, Fabrizio Coricelli, Associate Researcher of the Paris School of Economics, said that poverty in developing and transitional economies can be alleviated by widening people’s access to financial services. He suggested that there are two dimensions to the problem: demand and supply and he proposed that the greatest potential for widening access lies in better supply. One promising approach is connecting social cash transfers programs to financial services, which would lower administrative costs for the banks, thereby increasing the attractiveness of carrying out business with lower income groups.

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Filed under 12th Annual Conference, Conferences and Events, GDN Annual Conference, Parallel Session Tagged with development financing, en, gdn2011

The second plenary of GDN’s twelfth Global Development Conference addressed the issue of “Rethinking Microfinance”.

January 14, 2011 by Andrew Clappison Leave a comment

Victor Murinde

For many years, microfinance has been perceived as a kind of ‘magic bullet’ that raises the income and consumption of the poor and helps them cope with poverty. For its supporters, microfinance is not about income or consumption, but rather freedom and empowerment (Rich Rosenberg CGAP). But the perception of microfinance is changing.

A study on the impact of Spandana microfinance in South India presented by Professor Dean Yang, Associate Professor at the University of Michigan, shows that the impact of microcredit schemes differ by subpopulation. He found that those who already have businesses invest in durables and restrict their consumption, while those who do not have or want a business consume more. Proof perhaps, that microfinance is not quite the magic bullet as its supporters propose.

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Filed under 12th Annual Conference, Conferences and Events, GDN Annual Conference, Parallel Session Tagged with development financing, en, gdn2011, microfinance

Optimismo colombiano en la apertura de la conferencia de GDN

January 14, 2011 by areyes85 Leave a comment

Colombian President Juan Manuel Santos address at the GDN 12th Annual Conference

Juan Manuel Santos, Presidente de Colombia

Juan Manuel Santos, el Presidente de Colombia, recibió la Duodécima Conferencia Anual de GDN de vuelta al continente Latinoamericano después de nueve años. El Presidente Santos habló de la importancia de la conferencia al reunir importantes académicos y gestores de política con la capacidad de asesorar a los políticos ya que en política nunca se han tomado decisiones con certeza sobre su impacto y efectividad pero instituciones como GDN, que son reconocidas a nivel mundial por su alto nivel intelectual, pueden dar orientación y señales a los gobiernos para hacer del mundo un mejor lugar.

El Presidente, con semblante relajado y caminando con la ayuda de un bastón debido a una lesión obtenida jugando un partido de fútbol amistoso con la talentosa selección Colombia sub 20, habló sobre el fracaso de los economistas en predecir la crisis financiera mundial desatada en el 2008. El compartió su esperanza de que la selección colombiana, que viajó a Perú para jugar un partido para las eliminatorias del mundial, tuviera una mejor suerte que la de los economistas.

El Presidente espera un buen futuro económico para Colombia, hablando del progreso logrado en reducir la violencia en los últimos años y nombrando las cinco locomotoras de crecimiento que podrían al país en una mejor situación económica. Además puso una cifra a su ambicioso plan de crecimiento, para el deleite de la prensa, por encima de 5% anual.

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Filed under 12th Annual Conference, Conferences and Events, GDN Annual Conference, Plenary Session Tagged with colombia, economic development, emerging countries, es, gdn2011

The emerging landscape of development finance: the Bourguignon perspective

January 14, 2011 by Andrew Clappison Leave a comment

Francois Bourguignon

Is the global financial crisis at the heart of the emerging landscape of development finance? Francois Bourguignon, at the opening plenary of GDN’s Annual Conference, says not. Bourguignon, Director of the Paris School of Economics, speaking in the session ‘Financing Development in a Post-Crisis World: The New Agenda’ believes that the changes in the global economy had already been set in motion before the crisis. This was underpinned by a shift over time from a focus on the quantity to quality of development finance.

For many years, policy makers and academics talked about a two gap model, which saw development countries as lacking investable resources and foreign currency. The solution to this problem was seen as increasing foreign flows, and this led to a focus on North-South flows of finance.

The quantity of development finance is no longer seen as the primary restraint on development. Bourguignon was keen to point out that this shift is linked to the evolution of the global economy, and the acceleration of growth rates in the South.

Emerging Economies

In the majority of emerging economies, finance is not seen as a problem because of advances in international capital markets, countries and their financial sectors. It was also outlined how this situation has been enhanced by domestic saving rates, which have increased by around 3.5% since the 1970s in low and middle-income countries (increasing from 20% to 23.5%).

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Filed under 12th Annual Conference, Conferences and Events, GDN Annual Conference, Plenary Session Tagged with development financing, en, gdn2011, pse