Postcrisis Growth and Development

The Korea-World Bank High Level Conference on Post-Crisis Growth and Development, held in June 2010, in Busan, Republic of Korea, successfully brought key development issues to the forefront, laid the groundwork for setting global development priorities, and advanced the discussion among the international community, the G20, and the non-G20 countries on development policy. This volume compiles the papers and proceedings presented at this conference, which was attended by a mix of delegations from international organizations, high-level government officials, and eminent academics and practitioners. The conference covered a number of areas that are critical to the global development agenda and central to the G20’s mandate to foster “strong, sustainable, and balanced growth.”

The topics covered in the volume include both broad themes and specific sectors. The cross-cutting papers include: the emergence of multipolar growth in the post-crisis period led by structural reforms and rebalancing growth; an analysis of Korea’s development experience that draws lessons on how to transform from a low-income country to an advanced economy in one generation; and the impact of the global crisis on achieving the Millennium Development Goals (MDGs) by 2015 and regaining momentum toward their completion. The sectoral papers include: promoting aid for trade, specifically in resisting protectionism and recommitting to the Doha agenda; supporting infrastructure and sustainable development; ensuring agriculture and food security; and advancing inclusive finance.

The volume makes a strong case for integrating development into the G20 agenda and the need to bring non-G20 developing countries on board to ensure their participation in the global recovery and sustained growth and to enhance the legitimacy and credibility of the G20 process.