Part I: Successes of globalization. Be careful what you wish for -- Trade policy and economic development : how we learn -- Increased understanding of supply side economics -- Part II: Economic policy reform. DeToqueville's 'dangerous moment' : the importance of getting reforms right-- The crucial role of financial intermediation for rapid growth -- Lessons from the Asian financial experience -- Economic policy reforms in Brazil and Turkey -- Part III: Sovereign debt restructuring. A new approach to sovereign debt eestructuring -- Sovereign workouts : an IMF perspective -- Part IV: Multilateralism for the twenty-first century. The founding of the Bretton Woods institutions : a view from the 1990s -- The clash between economics and politics in the World Trade Organization -- At the service of nations : the role of the IMF in the modern global economy -- An enduring need : the importance of multilateralism in the twenty-first century -- Part V: Looking forward. Postscript.