Annual Bank Conference on Development Economics 2024

A growing incoherence is clouding global debates over how to achieve the key development goals of the 2020s—a profound mismatch exists between international policy advocacy and the research-based solutions necessary to achieve the desired development outcomes.

Policy advocates regularly remind us that “trillions” of dollars must be mobilized to tackle climate change, improve health and education, and rebuild war-torn countries. Yet amid decelerating economic growth and private investment, record public debt levels, and a growing tendency in many countries to prioritize national security over multilateral cooperation, there is precious little clarity on where the resources will come from.

In July 2024, the World Bank, the Institute for Economic Development, and the Center for Global Development co-hosted the Annual Bank Conference on Development Economics (ABCDE). The conference aimed to bring coherence to development policy debates by bringing together the world’s top economic minds to focus on four interrelated questions: 1) How can climate finance be increased, without deprioritizing other key development issues? 2) How should the world respond to the global debt crisis and promote future economic growth? 3) What are the implications of recent shifts in industrial policy for the future growth pathways of the Global South, and how can countries adapt? 4) How can private capital be mobilized for these issues and others?

The conference also featured panel discussions on social safety nets and women’s labor-force participation, norms, and other constraints to the economic inclusion of women and young people.