East Asia and Pacific
The latest from David Warsh is a nice concise history of auction theory - including anecdotes of ridiculous auction results. The evolution of the science affects many of the public policy issues we discus here: from the privatization of state companies and allotment of cellular spectrums, to energy contracts and a possible rescue of Europe’s teetering carbon market.
We are happy to announce that Christine Bowers has joined the PSD Blog. She just recently joined the WB-IFC Private Sector Development Vice-Presidency, so hopefully will bring with her a nuanced perspective to the issues we try to tackle here.
Last week the World Bank hosted a two-day seminar on “Policies to Promote Export Growth and Diversification,” including a particularly interesting session on export and FDI promotion institutions moderated by guru Andrew Singer. The overarching theme: Be realistic about what these types of institutions can accomplish, and avoid creating big institutions that are just “window-dressing”.