Welcome to the Growth Dialogue, a network driven by a passion to see economic growth extended to as many places on the planet as possible. Without growth, it is hard to imagine sustainable development and improvements in people’s lives. The Growth Dialogue seeks to connect high level policymakers and thought leaders with those whose decisions matter.
The greening of urban development is finally receiving increased attention. This is long overdue, as the globe’s burgeoning urban
population is using ever more resources and energy, which intensifies environmental pressures. If the demands on the biosphere’s resources are not to exceed the limits of sustainability, major changes are needed in the design and growth of cities. Urban industrialization, transport,and energy use, and urban lifestyles more broadly, will need to change markedly and rapidly. The sustainable city of the future must be green.
China—and to some extent Brazil and India (which we may christen the BICs)—are staging a ”Great Convergence” in terms of industrial strength and incomes. This reverses the past two centuries of the Great Divergence, which has separated them from the West. In the process, the BICs are lifting millions of people out of poverty. But in the great transformation that lies ahead, there is a significant problem to contend with: the model of industrial capitalism that has served the West so well—and which has been held out as a model for the BICs as well—will not “scale” to lift vast new populations out of poverty. A new model of industrial capitalism has to be developed, and in some people’s eyes it is inconvenient that China is leading the way.
Danny Leipziger, the Managing Director of the Growth Dialogue, chaired the discussion with the Rwanda's Minister of Finance, The Hon. Claver Gatete, on Rwanda's economic prospects and challenges.
After the ravages of the mid-1990s genocide, Rwanda has managed to emerge as one of the fastest growing economies on the African continent. Though landlocked and with one of the highest population densities in the region, the government has put in place stable macroeconomic policies, a welcoming investment climate, and a culture relatively free of corruption. Still, the country confronts ominous challenges -- continuing to rebuild social cohesion, simmering conflict next door in the eastern Congo, and the natural difficulties of moving to a more diversified economy in an uncertain global environment.
These and other issues were discussed with the new Minister of Finance of Rwanda, the Hon. Claver Gatete, the former Governor of the National Bank of Rwanda and Rwanda's ambassador to the United Kingdom, who spoke on Rwanda's problems and prospects.
“Innovating for Growth” is the proposed overall theme of the 2013 EBRD Annual Meeting. For a number of member countries, economic diversification has concentrated on creating the right conditions for non-resource dependent growth. The global recession of the past few years has derailed some growth strategies and caused a “rethink” of others. As the business climate and macro-economic framework improve, however, there is a strong case for increased investment in technology and innovation to help drive economic growth. In this context, the EBRD-Growth Dialogue Expert Seminar will address topical issues in three related sessions:
The first session on Institutions, Growth and Innovation discusses the conditions and policies needed to improve the climate for innovation and broad-based growth. Economic growth is clearly not an end in and of itself; it must lead to broadly shared welfare gains to be sustainable. The role of government and of institutions more generally is paramount for the successful design and implementation of growth-enhancing policies. Experts will comment on these new challenges to innovation and growth.
The Exit Note from the Roundtable on Growth, Jobs and Distribution that took place November 12, 2012 at Columbia University, New York, is now available on the Growth Dialogue's website. Full TextMore about the Roundtable
The Growth Dialogue’s Danny Leipziger (Managing Director) and Shahid Yusuf (Chief Economist) are participating in the event Preparing for TICAD Vwhich is the 2012 meeting of the Initiative for for Policy Dialogue's Africa Task Force. This meeting, taking place November 13-14, 2012 in New York is held in conjunction with the Japan International Cooperation Agency (JICA). Task force members and participants will present on a wide variety of topics related to development in Africa, such as industrial policy, finance, natural resources, and sustainability.
The Growth Dialogue will present there a paper on Growth Strategies for Africa in a Changing Global Environment: Policy Observations for Sustainable and Shared Growth [to download draft paper, click here [.PDF]
Nobel Laureate in Economics; Professor Emeritus, Massachusetts Institute of Technology, United States, Massachusetts Institute of Technology
"I ... think that the Spence Commission got it about as right as it can be got. The experience of the past four years makes a genuine difference, but more with respect to tactics and methods rather than fundamentals."
ADVISORY SERVICES: The Growth Dialogue proudly presents a roster of world-class experts in areas affecting economic growth who can act as intermediaries in the policy conversation and who also bring the latest research insights to bear on policy problems.
Few doubt that the global economic order has shifted in the aftermath of the Great Recession. After all, the advanced economies are struggling as can be seen in their slow growth recoveries and major challenges.