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Vienna, 26.04.2017 Forum Finanz: World Development Report 2017

On 26 April 2017, the conference series "Forum Finanz" took place for the first time in a new format. The topic was the World Development Report 2017.

Under the moderation of Anton Mair (Deputy Director General at the Federal Ministry for Europe, Integration and Foreign Affairs), Luis Felipe Lopez-Calva (co-author of the World Development Report 2017), August Reinisch (Professor at the University of Vienna) and Maximilian Burger-Scheidlin (Executive Director of the International Chamber of Commerce, Austria) spoke with regard to the World Development Report 2017 on the topic of "Governance and the Law". Director General Harald Waiglein gave the introductory address and welcomed the audience of experts.

At the centre of this year's Report is the efficacy of measures, as well as the many reasons why implementation and execution of measures is in reality often challenging. In this context, the social and political structures, the players involved and the impact of such structures on the effectiveness of the steps taken are also considered.

In his presentation, Luis Felipe Lopez-Calva explained one of the core statements of the report: "Change can never be brought about only from the outside, but must become established through institutions within the country. The form and structure of the institutions is thus at least as important as their function."

Maximilian Burger-Scheidlin, whose focus has for many years been on the topic of corruption, added that improvement of people's living conditions was the only option enabling the elimination of corruption and abuse. Therefore, specifically in the case of business enterprises, it was important not only to call for anti-corruption measures, but to place the possibility of legal profit maximization at the forefront.

University Professor August Reinisch finally illuminated the topic from a legal perspective. Even if the de-politicization of jurisdiction through the internationalization of law had failed, nevertheless, it is legal frameworks and investment agreements which are key to economic development.

The many guests at the Forum participated with great interest in the subsequent discussion.