Trillion Dollar Ideas to Build Prosperity
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Trillion Dollar Ideas to Build Prosperity
Trillion Dollar Ideas to Build Prosperity Wednesday, October 24, 2012 Loeb House at Harvard University (17 Quincy St. Cambridge, MA. T: 617.495.5758) RECEPTION AND DINNER: 4:00pm – 5:00pm Registration Welcome Remarks: DAVID ELWOOD 5:00pm – 6:00pm Dean of the Harvard Kennedy School Keynote Speaker: LAWRENCE SUMMERS 6:00pm – 7:00pm Cocktail Reception 7:00pm – 9:00pm Dinner President Emeritus of Harvard University Charles W. Eliot University Professor. Harvard University www.cid.harvard.edu/gem Thursday, October 25, 2012 th Harvard Kennedy School, Taubman Building, 5 Floor (79 JFK St. Cambridge, MA. T: 617.784.3857) MORNING SESSION: 7:30am - 8:30am 8:30am - 9:30am Breakfast Lecture: Conglomerates in Emerging Markets: Tigers or Dinosaurs? The Role of Conglomerates in Driving Development Presented by: RICARDO HAUSMANN Director. Center for International Development at Harvard University Professor of the Practice of Economic Development. Harvard Kennedy School And TARUN KHANNA Jorge Paulo Lemann Professor. Harvard Business School In many emerging economies governments have had a poor track record at identifying new promising sectors to drive diversification and economic growth. Decentralized markets have also not been sufficient to encourage the exploration of new fields where missing factors need to be coordinated simultaneously. This chicken and egg problem of development is exacerbated in small and less developed countries since there are many missing capabilities -like a proper financial market or the ability to motivate executives to acquire a very specific skill, where nobody else can hire them. Conglomerates have been successful throughout emerging markets as a second best solution in overcoming some of these institutional voids and market failures. From Chile and Mexico to South Africa, India, Indonesia and Korea, many highly diversified groups have grown handsomely, raising considerable funds in the international market and creating substantial gains in shareholder value in the process. As conglomerates look for future sources of growth, their role as globally connected microcosms with many internal capabilities could be catalytic for emerging economies to help them sprout new, complex and innovative industries that would be riskier for smaller players. This catalytic and socially validated path to growth will be explored in this session, showing some of the most promising examples in the developing world. Disparaged in the developed world, emergingmarket conglomerates are here to stay, provided they adapt to their ever-changing environment. 9:30am - 11:00am Interactive Discussion and Group Exercise: Moderated by: RICARDO HAUSMANN Director. Center for International Development at Harvard University Professor of the Practice of Economic Development. HKS And TARUN KHANNA Jorge Paulo Lemann Professor. Harvard Business School Panel Discussion: LORENZO MENDOZA ALI KOÇ ARIF NAQVI JAIME ZOBEL DE AYALA TONY ELUMELU JORGE LONDOÑO MANUEL SANCHEZ-ORTEGA CEO. Polar Enterprises (Venezuela) Koç Group (Turkey) CEO. Abraaj Capital (United Arab Emirates) Chairman. Ayala Corporation (Philippines) Chairman. Heirs Holdings (Nigeria) Grupo Empresarial Antioqueño GEA (Colombia) CEO. Abengoa (Spain) www.cid.harvard.edu/gem 11:00am - 11:30am Coffee Break 11:30am - 1:00pm Lecture and Interactive Session: Building State Capability An integral part of development is the expansion of capability of the state to carry out its responsibilities and effectively both impose obligations and provide services. A great deal of the development debate is about what should be done rather than how the state will do it. The development assistance dedicated to building capability has a mixed track record and overall, there has been little progress. Many development projects are designed to accomplish objectives that far exceed existing implementation capability in scope and complexity in too short time-lines. This pre-mature load bearing can make for vicious cycles of organizational collapse. A new paradigm at Harvard’s Center for International Development aims to research practical alternatives to building capability and promoting the correct practices for implementation. The new approach “Problem Driven Iterative Adaptation” (PDIA) provides a new way to think about this challenge and approach building capacity in institutions in the developing world. Presented by: LANT PRITCHETT Professor of the Practice of International Development Harvard Kennedy School And discussion moderated by: MATTHEW ANDREWS Associate Professor of Public Policy. Harvard Kennedy School LUNCH SESSION: 1:00pm - 2:30pm Keynote: Conversation between: JOHN KERRY Senior United States Senator from Massachusetts Chairman of the Senate Foreign Relations Committee (to be confirmed) DOUGLAS ALEXANDER Former Secretary of State for International Development Member of Parliament, UK AFTERNOON SESSION: 2:30pm - 4:00pm Dynamic Session 1: Behavioral Economics and Psychology in Development In the study and implementation of programs to alleviate poverty, economists usually assume rational decision-making. We assume humans have an abundance of psychological resources to think through problems, unbounded by self-control issues, and can act deliberately in their desire to save, spend, consume, etc. We have found ample examples that this is not true: people do not take life saving medication even if it is free, they do not save or spend based on their needs and have an unrealistic view of the future. Understanding how humans behave, in particular the poor, with the least financial and psychological resources to spare, can have huge implications in programs and policies to eradicate poverty. This panel will features psychologists, economists, neuroscientists and decision experts to help us understand the biases we posses and how to plan around this in developing products, programs and policies. Each expert will present a short synopsis of their idea. The session will conclude with an open discussion between the panel of speakers and the audience, moderated by Professor Sendhil Mullainathan. Moderated by: SENDHIL MULLAINATHAN Professor of Economics. Harvard University Assistant Director. Consumer Financial Protection Bureau. United States Department of the Treasury www.cid.harvard.edu/gem Speakers: STEVEN PINKER Professor of Psychology. Faculty of Arts and Sciences, Harvard University Professor of Mechanical Engineering & Director of the Stanford University Design Program Professor of Psychology. Faculty of Arts and Sciences, Harvard University. Director of the Harvard Moral Cognition Laboratory BANNY BANERJEE JOSHUA GREENE 4:00pm - 4:30pm Coffee Break 4:30pm - 6:00pm Dynamic Session 2: The Role of Networks in Building Prosperity We can think of the poor as those who are excluded from networks of productivity. Both the access to those networks, and leveraging them for maximum impact, more so with technology’s aggregating power, can lead to creative solutions of the problems faced by the poor. Similar to the fabric of the human mind, the infrastructure of a network is strengthened primarily through the quantity of connections established between actors. This panel will discuss these connections in topics ranging from disease contagion, disaster relief and aid coordination. A multi-disciplinary spectrum of speakers will discuss the influence of networks in promoting economic development. This panel will look at how networks affect development, and how technology and participatory platforms can change the way we think about affecting progress. Each expert will present a synopsis of their idea. The session will conclude with an open discussion between the panel of speakers and the audience, moderated by Professor AlbertLászló Barabási. Presented by: ALBERT-LÁSZLÓ BARABÁSI Professor and Director of Northeastern University's Center for Complex Network Research (CCNR), Member at Dana Farber Cancer Institute. Speakers: ALESSANDRO VESPIGNANI DAVID LAZER ASIM KHWAJA RICARDO HAUSMANN SINAN ARAL 6:00pm Sternberg Family Distinguished University Professor of Theoretical Condensed Matter and Biological Physics. Northeastern University Professor of Governance. Northeastern University College of Computer and Information Science and at the Department of Political Science Sumitomo-Foundation for Advanced Studies on International Development Professor of International Finance and Development. HKS Director. Center for International Development at Harvard University Professor of the Practice of Economic Development. HKS Faculty member in the Information, Operations and Management. Sciences department of the NYU Stern School of Business and professor of Information Systems. Closing Remarks & Cocktail Reception www.cid.harvard.edu/gem