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Publication Democratizing Development Economics(World Bank, Washington, DC, 2010-09-29) Zoellick, Robert B.Robert B. Zoellick, President of the World Bank Group, charged that economics, and in particular development economics, must broaden the scope of the questions it asks – thereby also becoming more relevant to today’s complex, multi-faceted problems. He discussed the following topics: (i) from hubris to humility; (ii) are we equipped to tackle the pressing issues of the day?; (iii) a new multi-polar world requires multi-polar knowledge; (iv) has development economics lost its way?; (v) re-examining the old truisms; (vi) what we now need to know; and (vii) beyond the ivory tower to a new research model on open data, open knowledge, open solution. He identified four problems that merit future research: economic transformation; inclusive and sustainable development; dealing with risk and vulnerability; and results-based analysis of what works. The Bank remains the largest single source of development knowledge, and this treasure chest will be opened to everyone. We have questions to answer. We need to listen and democratize development economics.Publication The End of the Third World?: Modernizing Multilateralism for a Multipolar World(World Bank, Washington, DC, 2010-04-14) Zoellick, Robert B.Robert B. Zoellick, President of the World Bank Group, spoke on the theme that we are now in a new, fast-evolving multipolar world economy in which outdated classifications no longer fit. He discussed these topics: (i) the end of the third world; (ii) multilateralism matters; (iii) new sources of demand; (iv) new poles of growth; (v) Africa as a potential pole of growth; (vi) economic shifts mean potential power shifts; (vii) the danger of geo-politics as usual; (viii) financial reform; (ix) climate change; (x) managing for crisis response; (xi) new role for rising powers; (xii) what does this changing world mean for development?; (xiii) modernizing multilateral institutions; (xiv) reforming to become more representative and legitimate; and (xv) reforming by adding resources; and (xvi) reforming to become more effective, innovative, and accountable. We need a League of Networks.Publication The World Bank Group Beyond the Crisis(World Bank, Washington, DC, 2009-10-09) Zoellick, Robert B.Robert B. Zoellick, President of the World Bank, addressed the following issues: seeds of crisis; the changing context; responsible globalization; the current role of the World Bank Group; the role of the World Bank Group in a new post-crisis World; and the reform agenda. He pointed to four aspects of Group’s future role: development finance; delivering knowledge products; the global public goods agenda (such as climate change and communicable diseases); and unforeseen future crises. Reform efforts include: 1) improving development effectiveness with a focus on results, decentralization, gender, investment lending reform, and human resources; 2) promoting accountability and good governance, and 3) increasing cost efficiency. He noted the completion of recent enhancements to the voice and representation of developing and transition countries in the Bank Group. Bretton Woods is being overhauled before our eyes.Publication After the Crisis?(World Bank, Washington, DC, 2009-09-28) Zoellick, Robert B.Robert B. Zoellick, President of the World Bank Group, discussed the implications of the 2009 financial upheaval that is changing our world. He addressed the following: (i) what are the perceptions and realities of power after this crisis?; (ii) will the U.S. dollar remain the predominant reserve currency?; (iii) will democratic governments permit independent central banks to assume even more authority?; (iv) is the global trading system keeping up with the demands of the global economy?; and (v) what will be the role of developing countries after the crisis? He stressed the opportunity to craft a new system of “Responsible Globalization” allowing balanced growth, financial stability, countering climate change, and advancing opportunities for the poorest.Publication Seizing Opportunity from Crisis: Making Multilateralism Work(World Bank, Washington, DC, 2009-03-31) Zoellick, Robert B.Robert B. Zoellick, President of the World Bank, recalled a moment in John Maynard Keynes life when he called for deeds that restore the public trust that governments are up to the challenge of the current crisis. What started in 2007 as a financial crisis quickly spiraled into an economic crisis, with estimates for 2009 for the first contraction of the global economy since World War II and the largest decline of trade in 80 years. Developing countries are being battered in successive waves as private capital flows slump sharply. These events could next become a social and human crisis, with political implications. Zoellick reviewed the difficulties for each region of the world. Unlike the 1930s, however, central banks have stepped in with creative solutions to keep credit flowing. But the challenge ahead requires a spirit of innovation backed by action. The World Bank Group’s Board is considering a new proposal: the launch of a $50 billion Global Trade Liquidity Program. Zoellick called for the member of the G-20 to make multilateralism work and to empower the WTO, the IMF, and the World Bank Group to monitor national policies. Bringing sunlight to national decision-making would contribute to transparency, accountability, and consistency across national policies. It is time to institutionalize “early warning” systems to protect the poor from cuts in social programs during times of economic crisis. Modern multilateralism will require that rising economic powers have a larger say in how institutions such as the World Bank and the IMF are run.Publication Modernizing Multilateralism and Markets(World Bank, Washington, DC, 2008-10-06) Zoellick, Robert B.Robert B. Zoellick, President of the World Bank, addresses these topics: (i) looking back –to see ahead; (ii) transformation in the global political economy; (iii) storm clouds over multilateralism and markets; (iv) a new multilateral network for a new global economy; (v) a new steering group; (vi) the WTO and the global trading system; (vii) energy and climate change; and (viii) fragile states.Publication Coalitions for Change(1999-09-28) Wolfensohn, James D.World Bank Group President, James Wolfensohn addressed the Board of Governors. In the past year the Bank launched a new initiative—the Comprehensive Development Framework (CDF). The aim was to bring the social and the structural aspects of development together with the macroeconomic and the financial so as to establish a much more balanced and effective approach. The Bank will work with the broad development community—the United Nations, the European Union, bilaterals, regional development banks, civil society, and the private sector—to build genuine partnerships. The CDF is now being piloted in 13 countries. The general experience reviewed that strengthening the organization, human capacity, and the structure of the state, both at central and local levels, is the first priority to reduce poverty. The speaker also called for a coalition for change in the new international development architecture in the face of globalization.Publication The Challenge of Inclusion(World Bank, 1997-09-23) Wolfensohn, James D.This is the address to the Board of Governors, delivered by Mr. James D. Wolfensohn, President of the World Bank, in Hong Kong, China, on September 23, 1997. This year's core theme is the challenge of inclusion, bringing people into society who have never been part of it before, the main reason why the World Bank Group exists. On reviewing the state of development circa 1997: despite improved social indicators, the rapid rise in life expectancy levels, and freedom ascending, much still needs to be improved. In East Asia, inequities between rural, and urban areas, and between the skilled, and unskilled are becoming more widespread; in the countries of the former Soviet Union, the old, and unemployed are more vulnerable amidst the turbulence caused by the transition to market economies; in parts of Latin America, unequal access to education, and health care, and disparities in income hinder progress; and, in many of the poorest countries, population growth continues to run ahead of economic growth. Considering the challenge ahead, the message for countries is to educate "your" people; ensure their health; give them voice, and justice; strong financial systems; and, sound economic policies, recognizing the link between good economic performance, and open governance, to build the broad social consensus. The effectiveness of the development community lies in building inclusive partnerships, between the governments, and the people, involving bilateral, and multilateral assistance, as well as nongovernmental organizations, and the private sector, based on good policy environments, with a look at renewing strategies. The Bank's responsiveness to this challenge has been that of commitment to the quality of work; increased accountability to measure performance; and, improved dialogue with governments. Key strategic points of change are to mainstream social issues, increase capacity building, forge sustainable development in agriculture; promote private sector participation, and strengthen financial systems.Publication Address to the Board of Governors(World Bank, Washington, DC, 1980-09-30) McNamara, Robert S.In his final address to the Board of Directors, President Robert S. McNamara discusses the future role of the Bank during a time in which surging oil prices threaten critical development tasks. He examines four themes: the prospects for economic growth and social advance in oil-importing developing countries; a program of structural adjustment that developing countries, industrialized nations, and OPEC countries can take to maximize growth; the need to accelerate the attack on absolute poverty; and the role the World Bank ought to play in the decade ahead.Publication Address to the Board of Governors(World Bank, Washington, DC, 1968-09-30) McNamara, Robert S.In his first public speech as President of the World Bank, Robert S. McNamara stressed that the Bank faced the question of what action the Bank, as a development organization, needs to take to overcome the recent mood of frustration and failure among developing countries and donors. He noted that Lester Pearson will lead an independent commission on the state of development aid. In the meantime, McNamara vowed that the Bank can and will act, and it will provide leadership in development planning. He proposed that the Bank Group double lending over the next five years, directed at developing national economies, stimulating growth, and aiding the poorest nations which need the most help. Some of this effort will be funded by a dramatic increase in Bank borrowing. Additionally, he note the need for more international representation among the Bank’s staff to really be an International Bank. He called for changes in resource allocation to geographic areas and economic sectors. Aid to the regions of Latin America and Africa will rise relative to South Asia. He advocated increased focus to Education and Agriculture. He called for new initiatives to control population growth. He proposed three courses of action. First, make it clear to developing countries how the rapid growth of the population slows down their development potential. Second, look for opportunities to fund facilities for its members to carry out their programs of family planning. Third, join forces with others in research programs to determine the methods of the most effective family planning and national administration of population control programs.