Why is the Bank getting involved in economics education and research in the transition countries?
A. The Bank is aware that well-trained economists and high-level research are key to the continued growth and stability of transition economies. It is no secret that educational and research institutions in many transition economies are struggling with declining wages and diminishing budgets, and as a result the best professors and researchers are leaving either for positions at foreign universities or jobs in the private sector. Essentially, in transition countries there is a lack of Western-trained economics professors, researchers, and professionals who can develop the policies needed to achieve sustainable economic growth and stability. The World Bank recognizes that spectacular results can be achieved by forming a partnership with private foundations, international financial institutions, and education specialists to invest in Western graduate economics education and research. Thus the Bank is functioning as a catalyst bringing together such prominent figures as George Soros, Will
