Nobel Laureate Professor Joseph Stiglitz to Visit Viet Nam

14 Mar 2002

HA NOIProfessor Joseph Stiglitz, who was recently awarded the highly prestigious Nobel Prize in Economics, is visiting to Viet Nam for the second time within the framework of UNDP's ongoing advisory assistance to the Government in the implementation of the Ten Year Socio-economic Development Strategy 2001-2010.

 From 21 to 22 March, Professor Stiglitz participates in a variety of policy sessions with senior officials of the Government and Party on a range of policy issues and challenges facing Viet Nam. In recent months, Professor Stiglitz has been advising a number of leaders of developing countries on theimplications of the New Global Context.

During a series of high level consultations organized by UNDP in Hanoi, last June, Stiglitz commented that: “The new ten-year socio-economic development strategy has been developed in a way that has engendered broad consensus. The strategy is one that attempts to ensure equity and stability at the same time that it promotes growth. It embodies a deliberate and gradual transformation of the economy. Indeed, I believe that without equity and stability, one cannot attain sustained growth.”

"Professor Stiglitz is well known internationally as a sympathetic and long-standing friend of developing countries, and a world class independent thinker and advisor offering innovative views", said UNDP Resident Representative Jordan Ryan, and "we are obviously very pleased that he is so enthusiastic to come back within the framework of our ongoing policy advisory services to the Government. Stiglitz was very positive about his consultations with Viet Nam’s leaders and policy makers”.

 During 1993-97, Dr. Stiglitz was the Chairman of the U.S. Council of Economic Advisors under President Bill Clinton. Following three years as Chief Economist of the World Bank, Dr. Stiglitz now heads an independent policy advisory service, “The Initiative for Policy Dialogue”. Professor Stiglitz has taught and lectured at most of the world's very best universities including Stanford, Yale, MIT, Princeton, Columbia, Oxford, Cambridge and others.

In October 2001, Professor Stiglitz was awarded the Nobel Prize in Economics for his valuable contribution to the better understanding of the important role of information and information asymmetries in explaining certain types of market behaviour.

Stiglitz has researched and written extensively on a number of policy challenges of great relevance to Viet Nam including: The Challenge of International Economic Integration for Transitional Economies; Lowering the Risk of Market Failure; The Role of the State; Institution Building for Successful Transition; Mitigating Negative Social Impacts from Integration; Public Policy for Knowledge-based Development; and Second Generation Reform Strategies.

Contact Information

Public Information Office, UNDP Viet Nam
Tel: (04) 942 1495 (ext 179) Fax: (04) 942 2267