Annotation Presents selected papers from the 16th Annual Bank Conference on Development Economics, held in May 2004. It reviews the lessons of 60 years of development experience, addressing topics such as infrastructure, behavioural economics, trade, poverty, and globalization.

The Annual World Bank Conference on Development Economics (ABCDE) is one of the world s best-known series of conferences for the presentation and discussion of new knowledge on development. The conference provides a forum for the world s leading development thinkers to share new knowledge and ideas. 'Lessons from East Asia and the Global Financial Crisis' was the theme of the ABCDE held in Seoul, Republic of Korea, on June 22 24, 2009. The conference was co-organized by the Government of the Republic of Korea, the Korea Development Institute (KDI), and the World Bank.

In this paper, the World Bank and the International Monetary Fund have drawn together available research findings on the benefits of trade liberalization as well as on the obstacles to trade-oriented development.