1999年-世界发展银行全球_Keynote_Address_7页_97kb

INSEAD International Council Meeting Summary

Keynote Address by James D. Wolfensohn

Core Content

James D. Wolfensohn, President of the World Bank Group, delivered a keynote address at the INSEAD International Council Meeting in Fontainebleau, France, on March 6, 1999. His speech emphasized the importance of addressing social and structural issues alongside financial and economic concerns during crises and development processes.

Main Points

• Financial Focus is Not Enough: Wolfensohn argues that while financial indicators and economic policies are important, they are not the only factors determining the success of development and crisis management. Social and structural challenges are equally critical.

• Key Structural and Social Issues:

  • Governance and Corruption: Effective governance and the absence of corruption are essential for development.
  • Legal and Justice Systems: Strong legal and justice systems are needed to protect rights, both commercial and human.
  • Financial Supervision: A robust financial system is necessary to monitor and regulate the banking and financial sectors.
  • Social Safety Nets: A functioning social system is required to support vulnerable groups such as the unemployed, the elderly, children, and the disabled.

• Global Development Challenges:

  • Over 4.8 billion people live in transition economies or developing countries.
  • A significant portion of these people live in extreme poverty (under $1 or $2 a day).
  • Access to clean water, sanitation, and power remains a major issue.
  • Education and healthcare are fundamental for long-term development.

• Importance of Knowledge and Technology:

  • Wolfensohn highlights the transformative power of knowledge and technology in development.
  • He cites the example of Côte d'Ivoire, where a joint project with a Canadian NGO improved access to market prices for farmers through technology and education.
  • He emphasizes the need for knowledge transfer and the role of education in empowering individuals and communities.

• Shift in Investment Patterns:

  • Private sector investment has grown significantly, now accounting for 6–7 times the amount of official investment.
  • This shift requires a re-evaluation of how international institutions, such as the World Bank, engage with the private sector.

• Institutional Change at the World Bank:

  • Wolfensohn acknowledges the need for cultural and structural change within the Bank.
  • He describes efforts to modernize the Bank by:
    • Creating a management training program in collaboration with Harvard, Stanford, Kennedy School, and INSEAD.
    • Encouraging senior staff to experience life in villages and slums.
    • Implementing distance learning and global communication networks.
    • Renaming the Bank as a "knowledge bank" rather than just a "money bank."

• Call for Collaboration:

  • Wolfensohn calls for a four-way partnership between governments, multilateral institutions, bilateral institutions, and civil society.
  • He encourages the business community to recognize the importance of social responsibility and to collaborate with institutions and governments to address structural and social issues.

• Future Outlook:

  • Wolfensohn is not pessimistic about the world but apprehensive about the current trajectory.
  • He highlights the opportunity and danger of the current global situation and stresses the need for preventive action rather than reactive crisis management.
  • He introduces the Comprehensive Development Framework, a new initiative to integrate business, civil society, and government in development planning.

Key Takeaways

• The financial perspective is important, but social and structural factors are equally crucial for sustainable development and crisis prevention.
• Education, healthcare, and technology are foundational for long-term progress.
• The World Bank is undergoing a transformation to become a knowledge institution, emphasizing collaboration and global learning.
• Business has a vital role in development, and its engagement is necessary for social stability and economic growth.
• Global collaboration across sectors and institutions is essential to address the complex challenges of the 21st century.