Towards a Consensus on the Principles of Policymaking for the Contemporary World
Thirteen economists, which included four former Chief Economists of the World Bank, met over two days in Stockholm, Sweden, on 16-17 September, 2016, to discuss the challenges faced by today’s economic policymakers. The meeting was hosted by the Swedish International Development Cooperation Agency (Sida) and the World Bank. The group consisted of Professor Sabina Alkire (Oxford), Professor Pranab Bardhan (Berkeley), Professor and former Chief Economist of the World Bank Kaushik Basu (New York), Professor Haroon Bhorat (Cape Town), Professor and former Chief Economist of the World Bank Francois Bourguignon (Paris), Professor Ashwini Deshpande (Delhi), Professor Ravi Kanbur (Ithaca), Professor and former Chief Economist of the World Bank Justin Yifu Lin (Beijing), Professor Kalle Moene (Oslo), Professor Jean-Philippe Platteau (Namur), Professor Jaime Saavedra (Lima), Nobel Laureate Professor and former Chief Economist of the World Bank Joseph Stiglitz (New York), and Professor Finn Tarp (Helsinki and Copenhagen). At the end of the meeting the group decided to issue a statement of the consensus reached among them: the “Stockholm Statement.” What follows is this statement.
About the Authors
University of Copenhagen, UNU-WIDER
Born 1951. M.Sc. in Economics, University of Copenhagen 1979; PhD in Economics, University of Copenhagen 1992; FAO Associate Expert/Economist (Swaziland) 1978-80; Various UN assignments as Programme Officer, Planning Economist, Macroeconomist, and Teamleader (Mozambique) 1980-88; Assistant Professor, University of Copenhagen 1988-91; Associate Professor, University of Copenhagen 1991-2002; Visiting Professor University of Zimbabwe 1995; Visiting Professor and Senior Economist/Project Coordinator National Economics University (NEU) and Central Institute of Economic Management (CIEM), (Hanoi, Vietnam) 2000-2002; Professor, University of Copenhagen 2002-present; Director, UNU-WIDER (2009-present).
Research interests: Development economics; poverty, income distribution and growth; micro- and macroeconomic policy and modelling; agricultural sector policy and planning; international development assistance; household and enterprise development; and economic reform and development in Vietnam and Mozambique.
Initiative for Policy Dialogue (IPD)
Joseph E. Stiglitz is President of the Initiative for Policy Dialogue, and Chairman of the Committee on Global Thought at Columbia University. He is University Professor at Columbia, teaching in its Economics Department, its Business School, and its School of International and Public Affairs. He chaired the UN Commission of Experts on Reforms of the International Monetary and Financial System, created in the aftermath of the financial crisis by the President of the General Assembly. He is former Chief Economist and Senior Vice-President of the World Bank and Chairman of President Clinton’s Council of Economic Advisors. He was awarded the Nobel Memorial Prize in Economics in 2001.
Poverty Reduction and Equity Department
The World Bank
Jaime Saavedra is Director of the Poverty Reduction and Equity department, World Bank. Dr. Saavedra has overseen operational, technical assistance, and analytical work in the areas of poverty and inequality, welfare measurement, labor markets, monitoring and evaluation systems and a number of other areas critical to the World Bank's mission. He has published and conducted extensive research and policy dialogue in his areas of expertise, and co-authored several books. Prior to his current appointment, Dr. Saavedra managed the Poverty and Gender group in the Bank's Latin American and Caribbean Vice Presidencies. Before joining the Bank, Dr. Saavedra was Executive Director and Principal Researcher at Grupo de Análisis para el Desarollo, a non-partisan think tank based in Lima, and a Principal Advisor to the Ministry of Labor and Social Promotion in Peru. He has been a consultant and researcher for the World Bank, the Economic Commission for Latin America and the Caribbean (ECLAC), the Inter-American Development Bank (IADB), and the International Labour Organization. He also served as President of the Executive Committee of the Network on Inequity and Poverty of the IADB-World Bank-LACEA, and as a board member at Latin America and the Caribbean Economics Association, the Nutrition Research Institute, and the National Council of Labor in Peru. Dr. Saavedra has held teaching positions at Pontificia Universidad Católica del Peru and Universidad del Pacífico in Peru, and has been a visiting researcher at the University of Toronto.
Center for Research in the Economics of Development
Karl Ove Moene
Department of Economics
University of Oslo
Karl Ove Moene is Head at the Centre for the Study of Equality, Social Organization, and Performance (ESOP) and Professor of Economics at the University of Oslo.
Justin Y. Lin
Former Chief Economist and Senior Vice President, Development Economics
The World Bank
Justin Yifu Lin is the former World Bank Chief Economist and Senior Vice President, Development Economics. In this capacity, Mr. Lin guided the Bank’s intellectual leadership and played a key role in shaping the economic research agenda of the institution. He took up his World Bank position on June 2, 2008, after serving for 15 years as Professor and Founding Director of the China Centre for Economic Research (CCER) at Beijing University.
Paris School of Economics
Professor of Economics
Ravi Kanbur is T. H. Lee Professor of World Affairs, International Professor of Applied Economics and Management, and Professor of Economics at Cornell University. He holds an appointment tenured both in the Charles H. Dyson School of Applied Economics and Management in the College of Agriculture and Life Sciences, and in the Department of Economics in the College of Arts and Sciences. Dr. Kanbur has served on the staff of the World Bank, as Economic Adviser, Senior Economic Adviser, Resident Representative in Ghana, Chief Economist of the African Region of the World Bank, and Principal Adviser to the Chief Economist of the World Bank. He has also served as Director of the World Bank's World Development Report.
University of Cape Town
University of Oxford
Pranab K. Bardhan
Professor of Economics
University of California, Berkeley