The Social Policy Program of the Graduate School of Social Sciences at Middle East Technical University, UNDP and the World Bank Turkey Offices hosted Prof. Dr. François Bourguignon (Paris School of Economics), whose seminar was entitled "Social Policy in Times of Economic Downturns: Opportunities and Challenges". Prof. Bourguignon explained how social safety nets (SSN) act as insurance mechanisms during times of economic hardship and posed the question as to how effective and efficient safety nets can be constructed. Prof. Bourguignon reviewed several design features of such effective systems, including the positive and negative incentives they can create for work activity of beneficiaries. He provided several illustrations of successful SSN systems, including in Brazil where social policies contributed to reducing the high levels of inequality in the country. Prof. Bourguignon concluded that in times of crisis, SSN models for emerging market economies would depend on the degree of disparities (and poverty), the extent of informality in the economy as well as fiscal space available for their implementation.

Short Biography
François Bourguignon is currently the Director of Paris School of Economics. Prior to this position, Prof. Bourguignon served as the Chief Economist and Senior Vice President for The World Bank between 2003 and 2007. In other past positions, he has worked both as a consultant and an academic in various universities in the world. Beside his distinctions from various economic societies and institutions, he has published many books, articles mainly on income distribution, inequality and poverty, redistribution, economic development.
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