Michael Klein is an

author An author is the writer of a book, article, play, mostly written work. A broader definition of the word "author" states: "''An author is "the person who originated or gave existence to anything" and whose authorship determines responsibility f ...

, and former

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

official. Klein has published and co-authored several policy papers on the

emerging markets An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were ...

and the effectiveness of

foreign aid In international relations, aid (also known as international aid, overseas aid, foreign aid, economic aid or foreign assistance) is – from the perspective of governments – a voluntary transfer of resources from one country to another. Ai ...

. He has regularly argued for enabling the

private sector The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The ...

to bring about economic development rather than direct aid to the poorest nations. In a paper he co-authored in 2005, Klein says: "Private financial flows such as foreign direct investment seem to encourage economic growth and relieve poverty in part because they create excellent incentives for transferring know-how and in part because they are subject to a stern market test that ensures they are allocated and monitored carefully. For aid flows, not automatically subject to these disciplines, it is difficult to be as effective. This Note argues that

aid agencies An aid agency, also known as development charity, is an organization dedicated to distributing aid. Many professional aid organisations exist, both within government, between governments as multilateral donors and as private voluntary organization ...

, by learning what makes private flows so effective, can bring better aid to the poorest."

Education and personal life

Klein is a German national and joined the World Bank as a youth through the Young Professionals program. He retired in 2009.

References

External links

* World Ban

* {{DEFAULTSORT:Klein, Michael Living people World Bank people Year of birth missing (living people)