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Talent is the bedrock of a creative society. Augmenting talent involves mobilizing culture and tradition, building institutions to increase the stock of human capital, enhance its quality, and instill values favoring achievements and initiative. The productivity of this talent in the form of ideas can be raised by nurturing wikicapital-the capital arising from networks. Translating creativity into innovation is a function of multiple incentives and sustaining innovation is inseparable from heavy investment in research. Finally, the transition from innovation to commercially viable products requires the midwifery of many service providers and the entrepreneurship skills of firms small and large.

Agricultural Knowledge and Information Systems --- Agriculture --- Capabilities --- Domain --- E-Business --- Education --- Global markets --- Human capital --- ICT Policy and Strategies --- Information and Communication Technologies --- Innovation --- Innovations --- Knowledge for Development --- Networks --- Private Sector Development --- Product innovation --- Productivity --- Rural Development --- Tertiary Education --- Uses

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This paper provides an overview of the period prior to the recent global crisis, and the policies that were adopted around the world in response to the crisis. It highlights a number of key issues regarding economic and financial policies that governments have faced both globally and nationally. These are related to the management of boom and bust episodes that deserve more attention in policy circles in the future.

Access to Finance --- Accounting --- Capital account --- Capital markets --- Cross-border flows --- Currencies and Exchange Rates --- Debt Markets --- Developing countries --- Domestic credit --- Economic Theory & Research --- Emerging Markets --- Expenditures --- Finance and Financial Sector Development --- Financial crisis --- Financial market --- Financial stability --- Financial system --- Global markets --- International bank --- Macroeconomics and Economic Growth --- Policy responses --- Portfolio --- Portfolio diversification --- Private Sector Development --- Remittances --- Stock market --- Stock market capitalization --- Trading

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Is there evidence from China's pre-WTO accession period that newly imposed U.S. or EU import restrictions deflect Chinese exports to third markets? The authors examine this question by drawing on a newly constructed data set of U.S. and EU product-level import restrictions on Chinese trade imposed between 1992 and 2001 and estimate their impact on Chinese exports to 38 alternative markets. There is no systematic evidence that the import restrictions imposed during this period resulted in Chinese exports surging to such alternate destinations. To the contrary, there is weak evidence of a chilling effect on China's exports to third markets.

Antidumping --- Antidumping measures --- Economic Theory & Research --- Export Growth --- Exporters --- Exports --- Free Trade --- Global exports --- Global markets --- Import protection --- Import restrictions --- International Economics and Trade --- Law and Development --- Macroeconomics and Economic Growth --- Market access --- Markets and Market Access --- Reciprocity --- Trade concessions --- Trade Deflection --- Trade Law --- Trade patterns --- Trade policies --- Trade Policy --- Trade restrictions --- World Trade --- World Trade Organization --- World Trading System

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Measuring the poverty and distributional impact of the global crisis for developing countries is not easy, given the multiple channels of impact and the limited availability of real-time data. Commonly-used approaches are of limited use in addressing questions like who are being affected by the crisis and by how much, and who are vulnerable to falling into poverty if the crisis deepens? This paper develops a simple micro-simulation method, modifying models from existing economic literature, to measure the poverty and distributional impact of macroeconomic shocks by linking macro projections with pre-crisis household data. The approach is then applied to Bangladesh to assess the potential impact of the slowdown on poverty and income distribution across different groups and regions. A validation exercise using past data from Bangladesh finds that the model generates projections that compare well with actual estimates from household data. The results can inform the design of crisis monitoring tools and policies in Bangladesh, and also illustrate the kind of analysis that is possible in other developing countries with similar data availability.

Achieving Shared Growth --- Counterfactual --- Distributional effects --- Economic Theory & Research --- Employment status --- Global markets --- Household heads --- Household income --- Household survey --- Impact on poverty --- Income --- Income distribution --- Income poverty --- Inequality --- Macroeconomic shocks --- Macroeconomics and Economic Growth --- Poor --- Poor rural households --- Poverty line --- Poverty rates --- Poverty Reduction --- Regional Economic Development --- Rural --- Rural areas --- Rural Poverty Reduction

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The extent to which India's poor have benefited from the country's economic growth has long been debated. This paper revisits the issues using a new series of consumption-based poverty measures spanning 50 years, and including a 15-year period after economic reforms began in earnest in the early 1990s. Growth has tended to reduce poverty, including in the post-reform period. There is no robust evidence that the responsiveness of poverty to growth has increased, or decreased, since the reforms began, although there are signs of rising inequality. The impact of growth is higher for poverty measures that reflect distribution below the poverty line, and it is higher using growth rates calculated from household surveys than national accounts. The urban-rural pattern of growth matters to the pace of poverty reduction. However, in marked contrast to the pre-reform period, the post-reform process of urban economic growth has brought significant gains to the rural poor as well as the urban poor.

Distributional effects --- Economic Growth --- Farm growth --- Farm productivity --- Global markets --- Household surveys --- Human development --- Impact on poverty --- Inequality --- Poor --- Post-reform --- Poverty line --- Poverty measures --- Poverty Reduction --- Pro-Poor Growth --- Rural --- Rural Development --- Rural economic growth --- Rural growth --- Rural poor --- Rural poverty --- Rural Poverty Reduction --- Rural sector