who will be next World Bank President What will they do


Time Magazine Goes for Substance In a break with the direction Newsweek is taking this story, the article in this week's Time' is at least going for some substance rather than merely gossip.

WB watchers will notice the re-emergence of Adam Lerrick, of Meltzer Commission fame. I find his suggestion that the Bank shrink to a small grant-making-to-extremely-impoverished-countries type institution far more palpable than Nancy Birdsall's proposed re-invigorating the knowledge bank. There's a great internal critique of the knowledge bank here, if anybody's interested. The best bit refers to David Dollar's dubious research claiming that globalization is good for the world's poor:

...We see a serious failure in the checks and balances within the system that has led to Bank to repeatedly trumpet these early empirical results without recognizing their fragile and tentative nature. As we shall argue, much of this line of research appears to have such deep flaws that, at present, the results cannot be regarded as remotely reliable, much as one might want to believe the results. There is a deeper problem here than simply a wrong assessment of provocative new research results. The problem is that in major Bank policy speeches and publications, it proselytized the new work without appropriate caveats on its reliability. Unfortunately, as one reads the research more carefully, and as new results come in, it is becoming clear that the Bank seriously over-reached in prematurely putting its globalization, aid and poverty publications on a pedestal. Nor has it corrected itself to this day.

Sameer Dossani ~ May 04, 2007

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