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Michael Kremer is a non-resident fellow at the Center for Global Development, the University Professor in Economics and Director of the Development Innovation Lab at the University of Chicago, a senior fellow at the Brookings Institution, and a 2019 co-recipient of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. He is a fellow of the American Academy of Arts and Sciences, a recipient of a MacArthur Fellowship and a Presidential Faculty Fellowship, and was named a young global leader by the World Economic Forum. Kremer’s recent research examines education and health in developing countries, immigration, and globalization. He and Rachel Glennerster published Strong Medicine: Creating Incentives for Pharmaceutical Research on Neglected Diseases, which won the Association of American Publishers Award for the Best Professional/Scholarly Book in Medical Science in 2004. He is a 2005 recipient of the International Health Economics Association’s Kenneth J. Arrow Award for best paper in health economics. In 2006, Scientific American named him one of the 50 researchers of the year.
The G7 Finance Ministers announced plans this weekend to work with others on a pilot Advance Market Commitment for a vaccine in 2006. Italian Finance Minister Giulio Tremonti recommended an approach based on a CGD working group report released in April. CGD President Nancy Birdsall welcomed the announcement, calling it "visionary and far-reaching."
Making Markets for Vaccines: Ideas to Action presents the proposal from theory to practice, by showing how a commitment can be consistent with ordinary legal and budgetary principles. A draft contract term sheet is included, highlighting the key elements of a credible guarantee.
This report was prepared by a Working Group convened by the Center for Global Development to identify key priorities the Paul Wolfowitz at the start of his tenure at the World Bank on June 1, 2005. It argues that Wolfowitz's biggest challenge will not be managing the Bank, with its 10,000 staff, but leading its shareholders, the nations of the world. The report offers five bold but practical recommendations for restoring the legitimacy and increasing the effectiveness of the world's largest development institution.
The history of foreign development assistance is one of movement away from addressing immediate needs to a focus on the underlying causes of poverty. A recent manifestation is the move towards "sustainability," which stresses community mobilization, education, and cost-recovery. This stands in contrast to the traditional economic analysis of development projects, with its focus on providing public goods and correcting externalities.