Introduction -- Promoting development: what works? -- Good governance and economic development -- Agricultural development for inclusive growth -- The DOHA development agenda: realizing the promise of global trade -- The truth about foreign aid -- Optimal debt relief for the poorest -- Postscript.

One of the Millennium Development Goals set by the United Nations is to reduce the global level of “extreme poverty” (the roughly 1.5 billion people whose income is less than $1 a day) by half by 2015. How can such a goal be reached? This paper argues that since the vast majority of the...