Contents -- Reflections by Clifton R. Wharton, Jr. -- 1 The Preference for Univariate Solutions to Solve Multivariate Problems -- 2 Recognizing the Uniqueness of Problem Settings and Forces -- 3 Appreciating the Roles of Values and the Impact of Political Influence on Development Execution -- 4 Promoting the Centrality of Human Capital in the Development Process -- Conclusion -- 1. How Can Financial Markets and Biotechnology Help the Rural Poor? Ralph D. Christy, Mark Wenner, Emelly Mutambatsere and Willene Johnson -- 1.1 Introduction -- 1.2 Capital and Technology Flow to Developing Countries: Implications for Growth and Development -- 1.3 Biotechnology and the Rural Poor -- 1.3.1 Public Sector Policy and Funding -- 1.3.2 Private Sector Investments -- 1.3.3 Public-Private Partnerships -- 1.4 Deepening Financial Markets -- 1.5 Foreign Direct Investment -- 1.5.1 Pre-Conditions and Strategies -- Bibliography -- Part I: Financial Markets and the Poor -- 2. Financial Development and Growth: What Role Can Foreign Capital Play? Eswar Prasad, Ayhan Kose, Kenneth Rogoff and Shang-Jin Wei -- 2.1 Introduction -- 2.2 Unanswered Questions -- 2.3 Not Created Equal -- 2.4 Making Sense of the Evidence -- 2.5 Financial Integration's Indirect Benefits -- 2.6 A Complication: Thresholds -- 2.7 Risk-Benefit Calculus -- 3. The Securitization of Microloans Vicki L. Bogan -- 3.1 Introduction -- 3.2 Securitization Overview -- 3.3 MFI Funding Market -- 3.4 Microfinance Institution Benefits -- 3.5 Investor Benefits -- 3.6 Risk Analysis -- 3.7 Keys for Successful Securitization -- 3.7.1 Credit Enhancement -- 3.8 Challenges -- 3.9 Conclusion -- Bibliography -- 4. A Vision for Scaling Microfinance: More than Dollars and Smarts Deborah Burand, Esq. -- 4.1 Introduction -- 4.2 Building an International Financial Architecture.

4.2.1 Moderate Private Sector Financial Flows to Microfinance Providers to Avoid a Boom/Bust Pattern of Lending -- 4.2.2 Ensure that Investors in Microfinance Providers Have the Information and Economic Incentives to Make Prudent Investment Decisions -- 4.2.3 Reinforce the Ability of Microfinance Providers to Endure Temporary Economic or Financial Disruptions -- 4.2.4 Facilitate Prompt, Orderly, Non-Contagious Workouts of Microfinance Providers When Crises Do Occur, with Attendant Losses Falling on Those Who Made the Investment Decision -- 5. Innovations in Index Insurance for the Poor in Low-Income Countries Jerry Skees -- 5.1 Introduction -- 5.2 Effects of Weather Risk in Lower Income Countries -- 5.3 Why Weather-Based Agricultural Insurance is Needed in Lower Income Countries -- 5.3.1 Weather Insurance Can Spur Rural Financial Markets by Transferring Risk -- 5.3.2 Weather Insurance Can Support Development and Improve Government and Donor Response to Natural Disaster in Lower Income Countries -- 5.4 Traditional Agricultural Insurance -- 5.4.1 Constraints to Traditional Weather Insurance -- 5.4.2 Two Types of Traditional Crop Insurance: Named Peril and Multiple Peril Crop Insurance -- 5.4.3 Subsidizing Traditional Agricultural Insurance -- 5.5 A New Approach-Index Insurance for Weather Risk -- 5.5.1 Advantages of Index Insurance -- 5.5.2 Limitations and Preconditions of Index Insurance -- 5.6 Role of Governments and Donors -- 5.6.1 Supporting Improvements in the Legal and Regulatory Environment -- 5.6.2 Supporting Improvements in Data Systems and Data Collection -- 5.6.3 Supporting Educational Efforts About the Use of Weather Insurance -- 5.6.4 Supporting Product Development -- 5.6.5 Supporting Access to Global Markets -- 5.6.6 Supporting Financing for Catastrophic Losses -- 5.7 Applications of Index Insurance.

5.7.1 Examples of Household-Level Index Insurance -- 5.7.2 Example of Intermediate-Level Index Insurance -- 5.7.3 Examples of National- and International-Level Index Insurance -- 5.8 A Look to the Future -- Bibliography -- Part II: Biotechnology and the Poor -- 6. Overcoming Poverty Through Improved Agricultural Technology Robert W. Herdt -- 6.1 Poverty, Technology and Their Relationship -- 6.1.1 Palanpur Village, India -- 6.1.2 East Laguna Village, Philippines -- 6.1.3 High-Yielding Rice Varieties in Tamil Nadu, India -- 6.1.4 Generalizations from Village Studies -- 6.1.5 Technology's Impact in Madagascar -- 6.2 Trade and Technology - Macroeconomic Effects -- 6.3 Conclusions -- Bibliography -- 7. Agricultural Biotechnology in Latin America: Economic Benefits, Regional Capacity, and Policy Options Greg Traxler -- 7.1 Introduction -- 7.2 The Use and Impact of Transgenic Technologies in Latin America -- 7.2.1 Herbicide-Tolerant Soybeans -- 7.2.2 Insect-Resistant Cotton -- 7.2.3 Bt Maize -- 7.3 Research Roles, Financial Resources, and Scientific Capacity in LAC -- 7.4 Agricultural Research Expenditures in LAC and Other Developing Countries -- 7.5 Basic Science and Agricultural Science Capacity in Latin America -- 7.6 Capacity to Regulate Agricultural Biotechnology -- 7.7 Intellectual Property Rights in LAC -- 7.8 Piracy and the Enforcement of IPR -- 7.9 Summary -- Bibliography -- 8. Biotechnology, Agriculture, and Food Security in Southern Africa: Strategic Policy Challenges and Opportunities Steven Were Omamo and Klaus von Grebmer -- 8.1 Biosafety -- 8.2 Trade -- 8.3 Intellectual Property Rights -- 8.4 Implications -- Bibliography -- 9. Developing Country Options under TRIPS: Choices to Maximize Biotech Transfer William Lesser and Deepthi Kolady -- 9.1 Introduction -- 9.2 TRIPs Articles -- 9.2.1 Exhaustion (Article 6).

9.2.2 Geographical Indications (Article 22) -- 9.2.3 Patentable Subject Matter (Article 27) -- a. Invention -- b. Novelty -- c. Scope of Protection -- d. Exclusions from Patentability -- e. Subsection Conclusions -- 9.2.4 Compulsory Licenses (Article 31 (abbreviated)) -- 9.2.5 Enforcement (Articles 41, 42, 44 and 45 (abridged)) -- 9.3 Conclusions -- Bibliography -- Part III: Foreign Direct Investment -- 10. What Matters to African Firms? The Relevance of Perceptions Data Alan Gelb, Vijaya Ramachandran, Manju Kedia Shah and Ginger Turner -- 10.1 Introduction: Firm Perceptions of the Investment Climate -- 10.2 What Do Perceptions Tell Us? A Review of the Literature -- 10.2.1 Rankings versus Ratings -- 10.2.2 Some Previous Studies -- 10.3 Constraints in Investment Climate Surveys -- 10.3.1 Country Profiles and Country-Level Differences in Firm Perceptions -- 10.3.2 Country Profiles and Other Country-Level Indicators -- 10.4 Firm-Level Analysis -- 10.4.1 A Model of Firm Responses -- 10.4.2 Camels and Hippos -- 10.5 Conclusion -- Bibliography -- 11. Making the Most out of FDI in Africa Norbert L. W. Wilson and Malick Diarrasouba -- 11.1 Introduction -- 11.2 FDI May Promote Growth -- 11.3 Africa Lags Behind -- 11.4 Case Studies of FDI in Africa -- 11.5 At Least Two Ways Forward -- 11.5.1 The Investment Climate Facility (ICF) for Africa -- 11.5.2 The UN Global Compact -- 11.6 What about Africa? -- 11.7 Concluding Remarks -- Bibliography.