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UNCTAD experts presented the findings of the Trade and Development Report (TDR) 2008 during two videoconferences organized by the Virtual Institute for its member universities in Jordan and Colombia.

The first presentation, for the University of Jordan, delivered by Ugo Panizza of UNCTAD's Division on Globalization and Development Strategies (GDS), focused on the third chapter of the TDR, "International Capital Flows, Current-account Balances and Development Finance."

Panizza introduced theoretical concepts relating to the topic of the chapter and confronted them with empirical evidence, highlighting the global imbalances, the effects of capital account liberalization and the need for a reform of the international financial architecture, especially during the current economic crisis.

  • Watch the video {rokaccess guest}The materials in this section are fully accessible only to registered website members. Please register.{/rokaccess} {rokaccess registered, author, publisher, manager, administrator, superadministrator}(English presentation for Jordan) Download the zip file (81 mb){/rokaccess}

 

The second videoconference, organized for Colombian universities De la Sabana and Jorge Tadeo Lozano, featured GDS's Alfredo Calcagno, who provided a comprehensive overview of the TDR 2008, adding the perspective from the current financial crisis, which occurred after the publication of the report.

Calcagno introduced the theoretical assumptions relating to the funding of productive investment and compared them with empirical data. Evidence shows that financial liberalization did not result in an increased provision of affordable credit to enterprises as the banking sector tended to favour loans to households and the public sector while re-investment of own resources has become the main source of funding for enterprise investment.

The presenter suggested that governments also have a role to play in orienting credit toward strategic sectors. While domestic resources are essential to finance investment in developing countries, Official Development Assistance to productive sectors should be increased, especially for less developed countries.

  • Vea el video {rokaccess guest}The materials in this section are fully accessible only to registered website members. Please register.{/rokaccess} {rokaccess registered, author, publisher, manager, administrator, superadministrator}(Spanish presentation for Colombia) {/rokaccess}

 

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