The Philadelphia Fed Policy Forum

8:45 a.m. – 9:30 a.m.

Continental Breakfast

9:30 a.m. – 9:45 a.m.

Opening Remarks
Charles I. Plosser, President, Federal Reserve Bank of Philadelphia

Economic Growth and Development: An Overview of Issues and Evidence

Moderator: Michael Dotsey, Federal Reserve Bank of Philadelphia

9:45 a.m. – 10:05 a.m.

“Lessons from Recent Experience on Economic Growth”
Roberto Zagha, The World Bank

PowerPoint Presentation (PDF, 502 KB, 18 pages)

Background Papers:

• Economic Growth in the 1990s: Learning from a Decade of Reform (PDF, 388 KB, 28 pages)
• Rethinking Growth (PDF, 546 KB, 13 pages)

10:05 a.m. – 10:30 a.m.

“Growth and the World Distribution of Income”
Xavier Sala-i-Martin, Columbia University

PowerPoint Presentation (PDF, 584 KB, 55 pages)

Income Distribution Graph (Flash animation; referred to in page 28 of the above presentation)

10:30 a.m. – 10:55 a.m.

Discussion and Audience Participation

10:55 a.m. – 11:15 a.m.

Break

Policy Responses: Trade and Foreign Aid

Moderator:  Kei-Mu Yi, Federal Reserve Bank of Philadelphia

11:15 a.m. – 11:40 a.m.

“Trade and Productivity”
Elhanan Helpman, Harvard University

PowerPoint Presentation (PDF, 225 KB, 13 pages)

Background Paper:

• Trade, FDI, and the Organization of Firms (PDF, 321 KB, 42 pages)

11:40 a.m. – 12:05 p.m.

“Planners versus Searchers in Foreign Aid”
William Easterly,  New York University

PowerPoint Presentation (PDF, 80 KB, 13 pages)

12:05 p.m. – 12:30 p.m.

Discussion and Audience Participation

12:30 p.m. – 1:45 p.m.

Lunch

Financial Markets and Growth

Moderator:  Loretta J. Mester, Federal Reserve Bank of Philadelphia

1:45 p.m. – 2:10 p.m.

“How Should Regulators Respond to Financial Innovation?”
Jeffrey M. Lacker, President, Federal Reserve Bank of Richmond

Speech Transcript (PDF, 80 KB, 9 pages)

2:10 p.m. – 2:35 p.m.

“Financial Systems in Developing Countries”
Robert M. Townsend, University of Chicago

PowerPoint Presentation (PDF, 2.4 MB, 46 pages)

Background Paper:

• The Thai Economy: Growth, Inequality, Poverty, and the Evaluation of Financial Systems (PDF, 72 KB, 17 pages)

2:35 p.m. – 3:00 p.m.

Discussion and Audience Participation

3:00 p.m. – 3:30 p.m.

Break

Institutional Arrangements and Economic Growth and Development

Moderator:  Aubhik Khan, Federal Reserve Bank of Philadelphia

3:30 p.m. – 3:55 p.m.

“How to Get Growth Started and Sustained"
Dani Rodrik, Kennedy School of Government, Harvard University

PowerPoint Presentation (PDF, 75 KB, 10 pages)

Background Papers:

• Goodbye Washington Consensus, Hello Washington Confusion?, January 2006 (PDF, 85 KB, 29 pages)

• Growth Strategies, September 2003 (PDF, 487 KB, 59 pages)

3:55 p.m. – 4:20 p.m.

“Persistent Inequality and Poverty: The Forgotten Role of Finance”
Ross Levine, Brown University

PowerPoint Presentation (PDF, 64 KB, 18 pages)

Background Papers:

• Paper 1: Financial Development Helps Poor in Poor Countries, July 2005, NBER Digest (PDF, 82 KB, 2 pages)

• Paper 2: Finance, Inequality, and Poverty: Cross-Country Evidence, NBER Working Paper Series (PDF, 282 KB, 47 pages)

• Paper 3: Bank Regulations and Supervision, Fall 2005, NBER Reporter (PDF, 101 KB, 7 pages)

4:20 p.m. – 4:45 p.m.

“Globalization and Poverty”
Ann Harrison, University of California, Berkeley

PowerPoint Presentation (PDF, 436 KB, 18 pages)

Background Paper:

• Globalization and Poverty, University of California at Berkeley and NBER (PDF, 246 KB, 52 pages)

4:45 p.m. – 5:10 p.m.

Discussion and Audience Participation

5:15 p.m. – 7:00 p.m.

Reception and Informal Discussion