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National Laws and the Global Economy: Role of The World Bank in the Promotion of Legal Reforms

The Department of Public Policy on 23rd March 2018, organized a public lecture on 'National laws and the Global Economy: Role of The World Bank' in the promotion of legal Reforms delivered by the Rector of University of Turin, Professor Gianmaria Ajani. The lecture was held in the framework of the series of the Public lectures and discussions  in the Global Political Economy course

Welcoming the guest speaker and the higher authorities of the HSE administration, Prof Sanjay K. Rajhans  on behalf of the department of Public Policy welcomed the students and the large group of audience  and did discuss the event as a great opportunity for the students of the course to understand the finer nuances of the international financial and economic architecture being built in the post world war time . 

Vice Rector for the International co-operation Prof Ivan Prostakov in his welcoming introduction speak about the range of co-operation that exists between HSE and UniTO Prof Ivan Prostakov did speak further on this issue outlining the range of engagements that exists and continues to grow he further thanked Professor Gianmaria Ajani on behalf of the Rector of HSE for coming to deliver a lecture and applauded his commitment towards the strong partnership between HSE and The University of Turin.  Prof. Prostakov reckoned that the two universities will continue to work together in various field towards the promotion of research and academic exchange.The lecture was attended by professor, students and administrative staffs. The primary aim of the lectures was to acquaint the students on the role of International economic and financial organizations notably (World Bank) in the global arena and state reaction. The lecture explained the reasons for the creation some of these international institutions and the different wave of transformation they have gone through using legal, economic and political means. The lectures also constituted an essential part for students to contribute and asked questions.
The respected scholar also talked about the history of international economy with the focus of the formation of international monetary and financial institutions. The creation of those institutions and their implications on world economy had also been touched upon Delivering the lecture, Professor Gianmaria Ajani started by explaining the three kind of legal systems that exist in different countries across the world. He further gives details why there is a legal diversity among countries. The lecture also covered a variety of topics related to the role of financial institutions including the World Bank and International Monetary Fund. 


During his deliberation Professor Ajani touched on the historical development of these institutions tracing to 1944 Bretton Woods conference. Prof Ajani explained the necessary pre-conditions and the policy processes that led to the formation of the World Bank/ International Bank for Reconstruction and Development which he said was for re-building of Europe. And later the necessity for shift of attention to the needs of its new members in the 1950s as many countries in Asia, Africa and Latin America gained independence. The lecture highlighted the importance of international economic regulations and the structural developments of those regulations

 

by Maria Yestrebova , Public Policy student chamber