A Cato Conference co‐​sponsored with
The Institute of Economic Analysis and
The Russian Union of Industrialists and Entrepreneurs

Marriott Grand Hotel
April 8–9, 2004

Thursday, April 8, 2004

8:00–9:00 a.m. Registration
9:00–9:15 a.m. Welcoming Remarks

Kakha Bendookidze, Russian Union of Industrialists and Entrepreneurs
Edward H. Crane, Cato Institute

9:15–9:20 a.m. Video Remarks

Milton Friedman [ENG] [RUS]
Hoover Institution, Nobel Laureate in Economics

9:20–10:00 a.m. Keynote Report

Andrei Illarionov
Economic Adviser to President Putin
10:00–11:30a.m. Promoting Economic Freedom: What Have We Learned?

Key players in successful reform programs from around the world will discuss “what works” and how to advance economic development.

Moderator: Kakha Bendookidze, Russian Union of Industrialists and Entrepreneurs

James Gwartney [ENG]
Florida State University
Ruth Richardson [ENG] [RUS]
Former Minister of Finance, New Zealand
Mart Laar [ENG]
Former Prime Minister, Estonia

11:30–11:45 p.m. Coffee Break
11:45–1:15 p.m. The Role of Institutions and Law in Economic Development

Property rights and the rule of law are essential for growth and restraint of state power. Panelists will explore how those institutions will evolve in developing and transition countries.

Moderator: Viacheslav Shironin, Academy of the National Economy, Russia

Roberto Salinas Leon,
Mexico Business Forum, Mexico
Vitaly Naishul [RUS]
Institute for the Study of the Russian Economy, Russia
Richard Messick [ENG] [RUS]
World Bank
Tom Palmer [ENG] [RUS]
Cato Institute.

1:15–2:45 p.m. Luncheon Address

Elena Leontjeva [ENG] [RUS]
Lithuanian Free Market Institute, Lithuania

2:45–4:15 p.m. Rethinking the Role of Government

The size of the state has remained large or has grown in reforming countries. What is the proper size and scope of government for a prosperous and free society?

Moderator: Richard Rahn, Cato Institute

Charles Murray [ENG] [RUS]
American Enterprise Institute
Andrei Illarionov
Economic Adviser to President Putin
Hannes Gissurarson
University of Iceland

4:15–4:30 p.m. Coffee Break
4:30–6:00 p.m. The Importance of Stable Money and Capital Freedom

Without sound money, important economic reforms are ineffective. Speakers will discuss how to maintain free capital flows and avoid currency and financial crises.

Moderator: James Dorn, Cato Institute

Boris Lvin [ENG]
World Bank, Russia
Dan Mitchell [ENG] [RUS]
Heritage Foundation
Fred Hu [ENG]
Goldman Sachs, China
Yaroslav Romanchuk [ENG] [RUS]
United Civil Party, Belarus

6:00–7:00 p.m. Reception
7:30–9:00 p.m. Dinner Address

Kakha Bendookidze
Russian Union of Industrialists and Entrepreneurs

Friday, April 9, 2004

9:00–9:45a.m. Opening Address

Arnold Harberger [ENG] [RUS]
University of California at Los Angeles

9:45–11:15 a.m. The Costs of Monopoly and State Capture
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So‐​called natural monopolies in energy and services often exert undue influence on the political process. Panelists will explore alternative policies for such industries consistent with competitive markets.

Moderator: Christofer Ruehl, World Bank, Germany

Gennady Lebedev [ENG] [RUS]
Deputy President, Vanguard Ltd., Russia
Jerry Taylor [ENG] [RUS]
Cato Institute
Viktor Agroskin
Tech​In​vest​Lab​.com, Russia
Boris Fyodorov
Former Minister of Finance, Board of Governors, Gazprom, Russia

11:15–11:30 a.m. Coffee Break
11:30 a.m.-1:00 p.m. A Market‐​Based Pension System to Empower Workers

Unfunded pension liabilities are a major threat to social and financial stability in rich and poor countries. Policymakers are discussing and implementing a revolutionary alternative — private pension systems — around the world.

Moderator: Alexander Shokhin, Russian Union of Industrialists and Entrepreneurs

José Piñera
Former Minister of Labor and Social Security
Justin Yifu Lin [ENG] [RUS]
China Center for Economic Research, China
Shuli Hu
Caijing Magazine, China
Michael Tanner [ENG] [RUS]
Cato Institute

1:00–2:30 p.m. Luncheon Address

Daniel Yergin
Author of Commanding Heights: The Battle for the World Economy, Chairman of Cambridge Energy Research Associates

2:30–4:00 p.m. International Organizations and Economic Freedom

What impact do the policies of the World Bank, the European Union, and the World Trade Organization have on development? Panelists will discuss the economic costs and benefits of international groups for poor countries.

Moderator: Margo Thorning, International Council for Capital Formation, United States

Deepak Lal [ENG] [RUS]
University of California at Los Angeles
Jan Oravec [ENG] [RUS]
F. A. Hayek Foundation, Slovakia
Brink Lindsey [ENG] [RUS]
Cato Institute
Peter Kaznacheev [ENG] [RUS]
Administration of the President, Russia

4:00–4:15 p.m. Coffee Break
4:15–5:30 p.m. The Way Forward

Where do transition and developing countries go from here? In this final panel, experts who have participated in success stories will outline policy priorities for the developing world.

Moderator: Clive Crook, The Economist, United Kingdom

Edward H. Crane [ENG] [RUS]
Cato Institute
Leszek Balcerowicz
President of the National Bank of Poland and Former Finance Minister, Poland
Grigori Marchenko [ENG] [RUS]
First Deputy Prime Minister, Kazakhstan

5:30–5:40 p.m. Closing Remarks

Ian Vásquez
Cato Institute
5:40–7:00 p.m. Reception