Development Economics: The Big Open Questions
April 7, 2015

Development Economics: The Big Open Questions

Chief Economist and Senior Vice President of the World Bank Dr. Kaushik Basu delivered a second lecture at Georgetown University as part of a semester-long conversation on “The Global Future of Development.”


Showing the Kaushik Basu on Economic Growth Video


Dr. Basu’s lecture covered two themes the World Bank Group has been calling attention to in its flagship World Development Reports: The role of social norms and mindsets, on the one hand, and governance and the law, on the other, in promoting economic development. There is a growing recognition that the policy choices intended to help countries achieve inclusive growth frequently remain inadequate and focused too exclusively on economic policy. With this in mind, Dr. Basu explored some big questions related to the interplay between effective policymaking, the law, and human behavior.

Kaushik Basu is senior vice president and chief economist of the World Bank. Prior to this, he served as chief economic adviser to the Government of India and is currently on leave from Cornell University. Dr. Basu’s contributions span development economics, welfare economics, industrial organization, and game theory.