The Kingdom of Bhutan, an independent country in the Himalayas, has designed its own theory and practice of socioeconomic development, which it calls "Gross National Happiness." Bhutan entered into relations with the outside world only in the early 1960s; since then it has pursued development in a way that is consonant with its own Buddhist values. An intrinsically interesting experiment in itself, Bhutan's experience now assumes broader relevancy as its pursuit of development must take account of the problems small nations and cultures confront in the face of the powerful impact of globalization. The Ambassador will discuss these problems and answer questions. His Excellency Om Pradhan, the Ambassador and Permanent Representative of the Kingdom of Bhutan to the United Nations, was born in 1946 and was educated in India, England, and Hawaii. As Minister for Trade, Industry, Power, and Tourism in the Royal Government of Bhutan, he has been a central figure in Bhutan's economic and social development. He has also served as Bhutan's Ambassador to India, Nepal, and the Maldives, has led the Bhutanese delegation in several rounds of boundary talks with the People's Republic of China, has been a member of the National Assembly of Bhutan, and has participated in innumerable international and regional conferences.

Mr. Bhatnagar will focus on the considerations that guide and motivate large companies to seek markets in developing economies and the risks that they face in being early pioneers. He will speak from his experiences in developing projects and working in Asian economies, with special reference to Enron's experience in India in developing and financing the Dabhol Power Project, the largest independent power plant and LNG terminal in India.

The Dabhol Project is a $3 billion investment in an LNG-fired power plant and port infrastructure in India and typifies the challenges large investments face in developing economies such as India. Projects such as Dabhol can help kickstart infrastructure investments in developing economies; investments that these countries sorely need and the talk will focus on the the hurdles the project has faced over the years and overcome and the efforts of a country to balance the vested interests in the economy with the need for new investment.

Sanjay Bhatnagar is currently working on developing and investing in several energy and telecommunication projects in India and the U.S. as a free agent based out of New York. Until recently, Mr. Bhatnagar was the CEO of Enron Broadband Services in the Middle East and Asia in Singapore responsible for developing Enron's telecommunication business in the region. Mr. Bhatnagar received his MBA from Harvard University in 1993, a Master's in Engineering from Stanford University in 1989 and a Bachelor's in Mechanical Engineering with distinction from the Indian Institute of Technology in 1983.

In the first of Shorenstein APARC's three sessions of 2000-2001 Visiting Fellows research paper presentations, Mr. Kim will discuss "Hyndai Patent Quotations", and Mr. Bodapati will speak about "A Study of Emerging Opportunities in Bioinformatics."

India is the fourth largest producer of carbon emissions from fossil fuel combustion. At current growth rates, its emissions will surpass those of the US today by 2022. India's carbon emissions growth can be slowed through improving energy efficiency, a better allocation of fossil fuels, and the increased use of renewable energy or natural gas. Many or most of these options are cost-effective from a societal perspective, but require additional capital and foreign exchange, both of which are issues of concern to India. The ongoing liberalization of the Indian economy, and the greater emphasis on controlling local air pollution bodes well for improving energy efficiency, which will slow the growth of greenhouse gas emissions. Dr. Jayant Sathaye is a Senior Scientist at the Lawrence Berkeley National Laboratory. His research subjects are energy and land use change in the developing countries. Over the past decade, the research has focused on the implications of these two factors on greenhouse gas emissions, and the potential for reducing these emissions. The research is supported by several US government agencies and private foundations. Dr. Sathaye also consults with several United Nations organizations, and the World Bank.

This talk presents initial evidence from a large cross-section of household data for rural Indian households on factors which may explain the low levels of education in this economy, particularly for girls. While much of the existing literature emphasizes low returns relative to the high opportunity costs of educating girls, the data suggest that much of the variation in enrollment rates across the economy are explained by village-wide factors, factors which are not restricted to village-level differences in the quantity and quality of schools. Anjini Kochar is Assistant Professor of Economics, Stanford University, Department of Economics. She has a Ph.D. from the University of Chicago, and a M.A. in International Relations, also from the University of Chicago. Her research is on micro-empirical aspects of households behavior in developing economies, focusing in particular on the South Asian economies. Her most recent work has been on the effect of health on savings, and on the intra-household division of incomes.

The talk will highlight the economic and social development of India and Pakistan and how this has been affected by the high level of military expenditures. It will trace the likely consequences of the emergence of a nuclear race on the two economies arising both from the short-run impact of economic sanctions and the costs in the long-run of increased sophistication of military technology. Before becoming the managing director of the SPDC in Pakistan, Dr. Hafiz Pasha was Advisor to the Prime Minister on Finance and Economic Affairs and Deputy Chairman of the Planning Commission, with status of federal minister. Earlier, he was Vice Chancellor of the University of Karachi, Dean and Director of the Institute of Business Administration, Karachi, and Professor and Director of the Applied Economics Research Centre, University of Karachi. Dr. Pasha's publications cover the fields of public finance, urban and regional economics and economics of social sectors. He has been involved with high-level policy making in Pakistan and has taken on numerous research assignments for international bilateral and multilateral agencies.

The story of South Asia is that of missed opportunities. Mr. Burki will take a look at South Asia in comparison to East Asia. Mr. Shahid Javed Burki started his career as a member of the Civil Service of Pakistan. He held various positions including Director of West Pakistan Rural Works Program, Economic Advisor to the Governor and Chief Economist of West Pakistan, and Economic Consultant to the Ministry of Commerce. In 1974, Mr. Burki joined the World Bank as Senior Economist in the Policy Planning Division. He was promoted to Division Chief of the Policy Planning and Program Review Department and later became Senior Economic and Policy Advisor in the Office of the Vice President of External Relations. After becoming the Director of the International Relations Department of that vice-presidency, he was appointed Director for China and Mongolia, helping to design and implement the World Bank's lending program in China - at one point the largest Bank-financed program in the world. Mr. Burki was appointed Vice President of the Latin America and Caribbean Region and worked in this position until his retirement in August, 1999. Upon leaving the Bank, Mr. Burki was invited to head the EMP-Financial Advisors, LLC, a consulting firm located in Washington, D.C. Mr. Shahid Javed Burki was educated at Government College, Lahore; Christ Church, Oxford University (where he was a Rhodes Scholar) and Harvard University (Kennedy School and Economics Department). He holds graduate degrees in Physics and Economics.

The Lahore University of Management Sciences (LUMS) is Pakistan's best reputed and only private management school. Operating within the environment of a government run university system, LUMS has used innovative strategies in marketing, research and consulting to reach its globally renowned status. Wasim Azhar, Dean of LUMS, will present a case study on its strategies. Dr. Wasim Azhar has taught at Wake Forest University, Swarthmore College, Kean University and the University of Pennsylvania in the USA. He has also worked as Marketing Analyst for Exxon Corporation in the USA. He is a member of the Institute of Electrical and Electronic Engineers (IEEE), American Marketing Association, American Production Inventory Control Society (APICS), American Mathematical Association and MENSA. His research interests include issues in business policy, marketing strategy, and negotiation dynamics. Dr. Azhar received his Ph.D. and MSc from the University of Pennsylvania, MBA from Wake Forest University, and MSc from University of Engineering and Technology, Lahore.