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.

When the Asian Crisis hit in 1997, California looked particularly vulnerable. Foreign markets had been of growing importance to the state's economy over the previous decade, and California's trade was heavily weighted toward Asia. The US trade deficit had been rising steadily and the rapid depreciation of Asian currencies threatened to dampen demand for the state's goods, while at the same time flooding it with imports. Yet the State's economy weathered this storm quite well. Why? Kroll and Bardhan will present research on California's linkages with the global economy which help explain this outcome. Additionally, Kroll and Bardhan will present research showing how California is becoming integrated with the global economy in other, more complex ways. California-based firms have expanded their sales and production activities throughout the world, and production that occurs within the state has come be increasingly linked to Asia for imports of intermediate inputs. Cheaper inputs and finished goods in turn have moved the economy to higher value-added sectors and related services. Kroll and Bardhan will discuss the some consequences of these linkages and analyze their effects on the employment structure of the state. Dr. Cynthia Kroll is Regional Economist at the Fisher Center for Real Estate and Urban Economics, at the University of California at Berkeley. She holds M.A. and Ph.D. degrees from Berkeley's Department of City and Regional Planning, and serves as an advisor to the California Office of Economic Research and the Association of Bay Area Governments Ashok Bardhan is a research associate at the Fisher Center, and served formerly as an officer with the Reserve Bank of India.