Uluslararası Ekonomi Birliği 15. Dünya Kongresi

Dear Colleagues, On behalf of the International Economic Association, I am very glad to welcome you to the 15th World Congress of the IEA. We are very fortunate to be able to hold it in Istanbul, an ideal city given that The Challenge of Globalization is the Congress’ unifying theme. I am thankful to the Turkish Economic Association for its support, and especially to its president, Professor Ercan Uygur, for his leadership and enthusiasm at every step of the way. Globalization issues have become central to the discussion about a good number of important topics such us trade and financial liberalization, global warming, and poverty and income distribution. Although most people would agree that globalization opens up new and exciting possibilities, risks are very real and cannot be ignored. Financial crises in emerging markets, for example, show that opening up channels for capital to flow from rich to poor countries - a process that has the potential of benefiting everyone, rich or poor -could backfire and turn the tide in the opposite direction. Even in cases in which globalization has brought about higher growth rates, one hears loud and angry voices claiming that the winners are just a handful few, while most of the population is left behind. To the extent that this perception prevails, the political sustainability of globalization will always be at stake, weakening the credibility of policy and policymakers, and bringing a new wave of massive and indiscriminate interventionism with global implications. The IEA World Congress offers an ideal setup to discuss globalization issues because the Association encompasses many countries around the world and, since its inception, encourages scientific and nonpartisan debate. The support of the TEA and the inspiring surrounding provided by this wonderful and evocative city will surely contribute to the success of our deliberations. I wish you all a very productive and pleasant stay in Istanbul with my heartfelt thanks for your participation in the program. Guillermo Calvo President of the IEA