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Joseph Stiglitz, Mr. Paul Collier, Mr. Dani Rodrik, Willem Gunning, Jeffrey Sachs, and Eisuke Sakakibara

Over the past fifty years, the approach to development assistance has undergone a major shift, moving from a narrow focus on macroeconomic stabilization and liberalization to a comprehensive framework, encompassing all aspects of the economy—including social and environmental issues and poverty reduction—and tailored to the specific circumstances of each country. Along with this comprehensive approach has come the recognition that ownership of the development process has to lie with the people and their government, not solely with donors or the aid-dispensing agencies. Much of the discussion at the Annual [World] Bank Conference on Development Economics (ABCDE), held in Washington on April 18-20, centered on these new directions for development assistance, partnership, and cooperation at the national and international levels. Following are some highlights from the conference.