Bangalore to host ABCDE from Tuesday

BANGALORE: For the first time since its inception 15 years ago, Annual Bank Conference on Development Economics (ABCDE) would be held outside Washington DC. In Bangalore, it will unfold over three days — from May 21 to 23. This event is be attended by 400 scholars from around the world. A similar conference has been held in Europe for the last four years and starting this year, each of these conferences would be held in developing countries every alternate year. The theme of accelerating development is perhaps ideally suited for Asia, where countries such as China and India have taken the lead in initiating reforms to boost growth, according to Mr Nicholas Stern, senior vice-president and chief economist at the World Bank. He said the organisers decided to move outside Washington to reach out and interact with scholars and researchers in developing nations. While growth of income was central to driving economic development, several other factors such as education and hygiene also played a crucial role, Mr Stern explained. He said India, through a series of reforms, had managed to grow exports to GDP ratio from 7% to 14% in just a decade. My own appraisal is rather positive, he said on India's economic reforms through the 90s. Meanwhile, Dr Basantha Pradhan, principal economist at National Council for Applied Economic Research (NCAER), said while some states such as Maharahstra had developed more rapidly, others like Bihar continued to struggle. Reiterating Mr Stern's comments on looking beyond just income as a measure of development, Dr Pradhan said economists needed to find ways to remove poverty and inequality, in their quest for development. The ABCDE has attracted speakers from a wide variety of sectors. While Wipro chairman Azim Premji will deliver the keynote address tomorrow, followed by Karnataka chief minister S M Krishna. On Thursday Montek Ahluwalia, from the IMF, will get the show going, while Naina Lal Kidawi, chairman, HSBC Sec India, will chair a session on reforming infrastructure. Friday has been dedicated to development activities related to the host state of Karnataka, with the day split between government and civil initiatives. Conference topics for ABCDE include fostering entrepreneurship, innovation and growth, challenges of development in lagging regions.

Bangalore to host ABCDE from Tuesday

For the first time since its inception 15 years ago, Annual Bank Conference on Development Economics (ABCDE) would be held outside Washington DC. In Bangalore, it will unfold over three days — from May 21 to 23.

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