A senior World Bank official has called on economists to do more to measure the contribution made by rich countries to cut poverty in poorer countries.
”I think if we set a powerful agenda for assessing and making accountable rich countries, a scientific and evidence based group like this could get somewhere (in the fight against poverty),” World Bank chief economist Nicholas Stern said on Monday during a speech at 13th world congress of the International Economic Association which opened on Monday in Lisbon.
”I’m a great believer in the power of evidence and in the power of embarrassment,” he added.
In February the leader of the World Bank, James Wolfensohn, called on rich industrial nations to double their financial contributions to poorer nations over the next 15 years.
Developed countries currently contribute $57-billion (euros) a year to poorer nations, but the world lending body estimates that to achieve its goals of cutting poverty and hunger by half they need to contribute an additional $40-billion to $60-billion a year.
In addition to measuring the amount of aid donated by developed countries, Stern suggested economists take a closer look at rich nations’ efforts to tackle third world debt and unequal trade rules.
”If you can bring embarrassing evidence then I think we have a chance to influence the discussion,” he said.
The International Economic Association is a non-governmental organisation set up in 1950 to promote personal contacts among economists around the world.
More than 1 000 top economists from around the world are expected to take part in the organisations’ 13th world conference, which is being held in Portugal for the first time. – Sapa-AFP