This enlightening book offers a comprehensive historical analysis of the main development challenges of the last half century and the international community's response through aid and trade. Much has happened: the oil crises of the 1970s, the debt crises of the 1980s, the break-up of the Soviet Union in the 1990s, the Millennium Development Goals, the onslaught of Globalization and the rise of its opponents since the financial crisis of the 2000s. Through it all, development has spread and global poverty declined. The volume assesses the contributions and coherence of developing and developed country policies and the role played by global institutions entrusted with responsibilities to enhance trade and support development. The volume concludes with a focus on the prospects for the future and the changes needed to make globalization more equitable. With 50 years of professional experience in the World Bank, the WTO and bilateral aid agencies, Michalopoulos brings an insider's perspective on the workings of these institutions and what needs to be done to make them more effective and responsive to changing global needs.
Constantine Michalopoulos has been a Visiting Scholar and Adjunct Professor of Economics at the Johns Hopkins University, USA, since 2012. Michalopoulos was for many years an official of the World Bank holding a number of senior positions including Director for Economic Policy and Senior Advisor for Europe and Central Asia. He has also been Chief Economist of the US Agency for International Development, Special Advisor to the World Trade Organization and taught economics at several US universities. Following his retirement from the World Bank he has served as advisor to governments and international organizations including the IMF, the World Bank, UNCTAD, the EU Commission, GTZ and the UK DFID on trade, finance and development. He has written several books and over 100 articles and monographs on these subjects.