The accelerated pace of globalization has stimulated dramatic changes in trade, finance, intellectual property, private investment, information and communications technology, health, environment, security and civil society. Addressing the challenges posed by globalization often requires collective action at the global level. Increasingly, global programs are used as a means to organize global collective action, particularly for providing global public goods.The World Bank is an important participant in such programs and activities because its global reach, its ability to mobilize resources, and its multisectoral expertise position it well to deal with the challenges of globalization. 'Addressing the Challenges of Globalization' derives crosscutting lessons for the Bank on program selectivity, design, implementation, governance, management, financing and evaluation. The book also identifies areas where further Bank action on its global-level strategy and programming is needed to improve the global program effectiveness.