Those involved in the invasion of Iraq seem to be falling! Some short cuts to the info in the net to enjoy during the weekend:1. Time waits for no one and it won't wait for Wolfowitz! He quits! An interesting chance for the Bank to make important changes within. Interesting people talking about the Wolfowitz's affair (longer than a Brazilian soap opera). Nancy Birdsall, for example, asks herself which kind of World Bank we need. Dani Rodrik asks for candidates in his blog. And remember, it HAS to have US nationality! UPDATE: the Center for Global Development has released an interesting online survey to gather opinions from the development community about the selection process and the qualifications the candidate should meet to replace Wolfotwitz.
2. A recent report released by the Servicio de Estudios del BBVA analysing the economic impact of the Free Trade Agreement between Peru and the USA.
3. Everybody interested in LATAM should follow this interesting blog promoted by Nouriel Roubini. They have started with an interesting question about whether the actual economic success in the region is due to external conditions or good policies promoted within. Leaving aside the important differences existing among the different countries in the region (Hirschman would be very angry, though!) and without doing the appropriate analysis case-by-case, I think it is still too soon to have your say, but certainly the hike in prices of natural resources in international markets is playing a crucial role! Unfortunately, I'm not so sure about the crucial role of policies and initiatives promoted within the countries!
2 comments:
Your shorcuts are great!
In your opinion, what kind of Bank does the world need?
Do you expect any changes in the new Bank's direction?
Thanks,
From Moscow
In your opinion, what kind of Bank does the world need?
Making a long story short, I would say that the Bank should have to avoid the agency problems derived from the situation by which the country that gives more money has more decisional power (and with this I'm not only referring to the US, Europeans decide who manages the IMF!). With this, I don't say that developing countries should get the top job of the bank (how would our private banks be if the owner would be the one borrowing the greatest amount of money!) but there should be important advances in the election process, promoting the same transparency it asks for developing countries but also more participatory, letting the board of governors of the Bank have more power in the process.
Do you expect any changes in the new Bank's direction?
Unfortunately, political economy issues play a major role in these kind of decisions. I think changes are happening right now within the Bank (and outside the Bank, Venezuela quit last week, and China is increasingly doing part of the business formerly done by the Bank in Africa). The bank has become more professional and great majority of the people working in the Bank is really concerned with the fight of poverty!. Changes are coming within!
Overall, great donors should try to take out their commercial and geoestrategic interests from their cooperation initiatives. If you cannot do that, then don't do anything! IT's better than doing wrong things!
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