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Featuring Ravi Kanbur
Non-Resident Fellow, Center for Global Development
T.H. Lee Professor of World Affairs, International Professor of Applied Economics and Management, and Professor of Economics, Cornell University
With Discussant Devesh Kapur
Non-Resident Fellow, Center for Global Development
Madan Lal Sobti Associate Professor for the Study of Contemporary India and Director of the Center for Advanced Study of India, University of Pennsylvania
Hosted by Arvind Subramanian
Senior Fellow and Director of the Understanding India Initiative, Center for Global Development
Should India, a lower-middle income country that has its own space program and yet is home to more than 400 million people who live on less than $1.25 a day, graduate from IDA, the World Bank’s concessional finance window for the world’s poorest countries? Ravi Kanbur will use this hotly debated question as a way to explore broader issues: How should the World Bank engage with India? How should India engage with the World Bank? How should other emerging powers that, like India, have both rapid growth and very large numbers of poor people, engage with global development institutions more generally?
*The Understanding India Seminars Series is organized by CGD's Understanding India initiative, which explores India's development challenges and experiences and the lessons they might offer for other developing countries.*
Given the changing global landscape, development finance – rather than aid – is poised to be the future of development. The spotlight is increasingly on Development Finance Institutions (DFIs) to be catalysts in mobilizing needed financing. At a time when their record on development finance mobilization and development impact is still debated, they are nevertheless being asked to play a critical role in helping to fill huge financing gaps associated with meeting the SDGs. Several countries have established new DFIs and others are considering expanding DFI operations.
Corruption can siphon desperately needed resources away from development, but as some anti-corruption advocates have found, taking on vested interests can come at a great personal risk to their livelihoods—or even their lives. Ngozi Okonjo-Iweala’s new book, Fighting Corruption Is Dangerous: The Story Behind the Headlines, draws on her years as Nigeria’s Finance Minister to provide practical lessons on the difficult, sometimes-dangerous, always-necessary work of fighting graft and corruption.
Most countries in Latin America are currently reporting fiscal deficits and many have increased their external debt ratios. This has refocused attention on whether the region’s resilience to external shocks has deteriorated, and it has raised questions about Latin America’s ability to reignite growth and support development efforts.
Technological advances in fields such as artificial intelligence and automation have the potential to fundamentally alter prevailing economic trends. While the effects of these changes are the subject of great debate in the developed world, less discussed has been how they will impact the developing world. Speakers will explore what emerging technologies mean for both the traditional models of development and the future of job creation in developing countries.
The Center for Global Development and the LSE-Oxford Commission on State Fragility, Growth and Development will co-host a conversation with David Cameron, former Prime Minister of the United Kingdom, Donald Kaberuka, High Representative on the African Union Peace Fund, distinguished visiting fellow at CGD, and former President of the African Development Bank, and Jennifer Widner, professor of Politics and International Affairs at Princeton University and a member of the Commission on State Fragility, Growth and Development, to discuss the need for a new global approach to state fragility. The Fragility Commission, which Cameron and Kaberuka chair, will be launching its report, Escaping the Fragility Trap, which makes the case for urgent action and outlines recommendations for how domestic and international actors can do things differently.
One-quarter of the world’s school-age children live in East Asia and the Pacific. In the past 50 years, some economies in the region have successfully transformed themselves by investing in the knowledge, skills, and abilities of their workforce. Through policy foresight, they have produced graduates with new levels of knowledge and skills almost as fast as industries have increased their demand for them. Yet, tens of millions of students in the region are in school but not learning. In fact, as many as 60 percent of students remain in systems that are struggling to escape the global learning crisis or in systems where performance is likely poor.
Since the early 2000s, Latin America has become increasingly integrated with the global economy, liberalizing trade and opening its capital account. These initiatives were prompted by the assumption that advanced economies would not impose barriers to the cross-border movement of goods and services. But today, a rising wave of protectionism not seen since the Great Depression challenges this assumption.
With this new reality as the backdrop, the Latin American Committee on Macroeconomic and Financial Issues (CLAAF) will be meeting in Washington, DC to discuss how to tackle these emerging global economic challenges. Members of this committee include former finance ministers, former central bank governors, and other high-level economic officials and academics from across Latin America.