By Boris Pleskovic
The "Annual international financial institution convention on improvement Economics" (ABCDE) brings jointly the world's top students and improvement practitioners for a full of life debate on state of the art considering in improvement coverage and the consequences for the worldwide economic climate. The 10th convention handled 4 tough themes in improvement: • the function of geography in international locations' good fortune, with Paul Krugman, John Luke Gallup and Jeffrey Sachs; • the position and layout of law and festival coverage, with Paul Joskow and Jean-Jacques Laffont; • the motives of economic crises and how you can hinder them, with Bruce Greenwald, Asli Demirguc-Kunt and Enrica Detragiache; and • how ethnic clash impacts democracy and development, with Paul Collier and Donald L. Horowitz. This quantity additionally comprises insights from Nobel Prize winner James Tobin, Stanley Fischer, Joseph E. Stiglitz, and global financial institution President James D. Wolfensohn.
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Extra info for Annual World Bank Conference on Development Econmics 1998 (Annual World Bank Conference on Development Economics)
The boundaries, colors, denominations, and other information shown on any map in this volume do not imply on the part of the World Bank Group any judgment on the legal status of any territory or the endorsement or acceptance of such boundaries. The material in this publication is copyrighted. The World Bank encourages dissemination of its work and will normally grant permission promptly. , telephone 978-750-8400, fax 978-750-4470. Please contact the Copyright Clearance Center before photocopying items.
Special thanks are due to Gregory Ingram, the administrator of the Research Advisory Staff, for his continued support of the conference series. We would also like to thank other staff members, in particular several anonymous reviewers, and the conference coordinators, Mantejwinder Jandu and Jean Gray Ponchamni, whose excellent organizational skills kept the conference on track. Finally we thank the editorial staff, especially Meta de Coquereaumont, Paul Holtz, Barbara Karni, and Daphne Levitas, and layout designer Wendy Guyette.
S. S. S. savings and loan companies, followed by regulatory forbearance, including nontransparent accounting tricks) surely contributed to the problem. Nor did Western governments presumably pressure their banks to make loans to the already highly leveraged Korean firms. Moreover, the lack of transparency was well known before the loans were made (and, as already noted, several of these countries were not less transparent than other emerging markets). Was it not the responsibility of the lenders to undertake due diligence, and if they thought there was insufficient information, not to make the loans?