A panel discussion with former Chief Economists of the World Bank
Because of the Covid-19 pandemic, the Ukraine war, and policy responses to them, the global economy has changed dramatically over the last two years. Inflation is high and, in some countries, rising. Supply chain disruptions slowed world trade, prompting a rethinking of globalization. A global recession followed by rising food and fuel prices are threatening debt sustainability in many developing countries. A panel of three World Bank Chief Economists will engage with their former colleagues on these and other issues facing the global economy.
Welcome remarks – Anis Dani, President, 1818 Society
Lawrence H. Summers, Charles W. Eliot University Professor, Harvard University. He was the Chief Economist of the World Bank from 1991 to 1993. He was then appointed Under Secretary to the U.S. Department of the Treasury, serving as the 71st United States Secretary of the Treasury from 1999 to 2001. He also served as President of Harvard University from 2001 to 2006.
Anne O. Krueger, Senior Fellow, School of Advanced International Studies, Johns Hopkins University. She was the Chief Economist of the World Bank from 1982 to 1986, and the first deputy managing director at the IMF from 2001 to 2006. As an economist, she is well known in macroeconomics and trade. In 1974, she wrote “The Political Economy of the Rent-Seeking Society” in which she famously coined the term rent-seeking.
Kaushik Basu, Carl Marks Professor of International Studies, Cornell University. He was the Chief Economist of the World Bank from 2012 to 2016. Previously he served as Chief Economic Adviser to the Government of India, Ministry of Finance, from 2009 to 2012. He was elected President of the International Economic Association from 2017 to 2020 and also served as president of the Human Development and Capabilities Association founded by Amartya Sen.
Shanta Devarajan is Professor of the Practice of International Development at Georgetown University’s Edmund A. Walsh School of Foreign Service. Previously serving as Chief Economist in several regions, he was Senior Director for Development Economics and Acting Chief Economist before retiring from the World Bank.