On June 15, 2010, Dr. Augustin Fosu, Deputy Director of the United Nations University - World Institute for Development Economics Research presented a seminar on “Growth, Inequality and Poverty Reduction: Africa in a Global Context.” Dr. Fosu’s research analyzed regional and country-specific poverty levels using the most recent World Bank data. The study found that on average income growth has been the major driving force behind both the declines and increases in poverty. His paper also documented substantial regional and country differences that are masked by this ‘average’ dominant-growth story, which recommends that idiosyncratic attributes of countries should be emphasized for more efficient policymaking. For his presentation, Dr. Fosu provided specific results for Africa, while comparing it to other regions.
“The 21st century has revalued these small geographies. That’s what the 21st century demands,” Katz said, noting that these days, “[w]e aren’t innovating in isolated business parks” in the suburbs.