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3 challenges Latin American economies must overcome to boost intraregional trade

Anabel Gonzalez's picture
In the latter part of the 20th century, trade integration helped drive economic growth in advanced and developing countries, lifting millions out of poverty.
 
Since the early 2000s, however, a slowdown in the pace of trade reform, a post-crisis uptick in protectionism, and risk of further reversals are taking a toll on trade, productivity and income growth. In this context, regional integration is increasingly seen as a powerful driver of growth and new opportunities.
 
Regional integration: a worldwide trend
 

Parents or centers: How should governments prioritize early investments in children?

Magdalena Bendini's picture
To reach their full potential, children need to be well nourished and cared for, stimulated, nurtured and protected from stress from the time their lives begin (The Lancet ECD series). The investments made early in their lives are key to setting them on a higher development trajectory (Harvard Center on the Developing Child).

How to speed up commercial cases in Bosnia and Herzegovina

Georgia Harley's picture


In Bosnia and Herzegovina (BiH), complaints about the business climate are pervasive – and many blame the courts. Evidence suggests that poor court performance affects the economy in BiH more than almost anywhere else in Europe and Central Asia, and likely beyond.  
 
By way of example, imagine you’re a local business and you have a dispute with a supplier worth less than 2,500 EUR. You’ll wait an average of 702 days before you hear your court decision...and that’s before the decision is even enforced!

So what can be done?

What do aid agencies need to do to get serious on changing social norms?

Duncan Green's picture

Earlier this week I spent a day with Oxfam’s biggest cheeses, discussing how we should react to the rising tide of nationalism and populism (if you think that’s a Northern concern, take a look at what is going on in India or the Philippines). One of the themes that emerged in the discussions was how to engage with social norms – the deeply held beliefs of what is natural, normal and acceptable that underpin a lot of human behaviour, including how people treat each other and how they vote.

It’s pretty common to hear progressive types (in which category I include Oxfam) worry that while they have been busy having geeky conversations on the evidence on this or that intervention/project, or the case for this or that policy change, they have ignored the tide of disillusionment with politics-as-usual that underpins the rise of populism. We need to engage the public in a wider conversation aimed at encouraging progressive norms, or opposing exclusionary ones.

Fair enough, but what struck me is just how much would need to change for that to become reality. What would a ‘guide to shifting norms’ cover? Here are a few thoughts; please add your own.

Analysis

There doesn’t seem to be much evidence on how to change norms. Eg what lies behind the increasing acceptance of the rights of people with disabilities? Or the age at which we deem chlldhood to end? Or even why dog owners routinely pick up their pooches’ pooh in my local park, something that was unimaginable a generation ago? How do deliberate attempts at change interact with the forces of demographic, technological or cultural change that also help drive norm shifts? This is one area where we really do need more research, both historical and current.
 

Managing PPP risks with a new guide on guarantees

Victoria Rigby Delmon's picture



Just two years ago, Ghana was experiencing unstable commodity prices and a deteriorating macroeconomic situation. Yet, through a unique combination of World Bank guarantees nearly $8 billion in private investment was mobilized for the Sankofa Gas Project—the biggest foreign direct investment in Ghana’s history. The transformational project helped address serious energy shortages and put the country on a path to economic growth.
 
This is just one example illustrating how risk mitigation products play out in practice to encourage private sector investment and improve people’s lives.

Can foreign banks bridge the information gap to boost exports?

Shawn W. Tan's picture

Foreign banks can play an important role in facilitating international trade. They can provide trade financing, enforce contracts, and reduce information asymmetries. Studies have shown that trade financing is an important channel to boost exports. For example, Claessens and others (2015) show that sectors that are more dependent on external finance have more bilateral exports when a foreign bank from that trade partner is present in the country. Much like immigrant networks and colonial ties (Rauch 1999), foreign banks can play a role in reducing information asymmetries for exporting firms, especially in countries where there are fewer financing constraints. Foreign banks have strong ties with their parent country, and are better placed to assess the profitability of a given product in that market and provide information about export market conditions.

Can behavioral change support water conservation? Examples from the US, Colombia and Costa Rica

Juan Jose Miranda's picture


This blog is part of the series "Small changes, big impacts: applying #behavioralscience into development".

While Latin America is rich in water, people’s ability to access safe, reliable water supply remains elusive in most countries. Worse, most countries and major cities in the region will face economic water scarcity in less than a decade. Strategies to manage water scarcity vary, from investing in water recycling facilities to changing consumer behavior.

The most common ways to change consumer behavior are to increase the price or conduct communication campaigns to encourage conservation. Neither solution, however, is guaranteed to succeed. In some cases, they even backfire. Increasing price, for example, can upset citizens who currently pay little for poor quality water. Likewise, if done poorly, communication campaigns can cause panic and increase consumption and water stockpiling, something Bogota faced in 1997 when a tunnel providing water to the city collapsed and caused water shortages.

Profiles of the Diaspora: Hanane Benkhallouk

Web Team's picture
Hanane Benkhallouk

“You can take the man out of the country, but you can't take the country out of the man.”
 
A native of Morocco, Hanane Benkhallouk began her career in New York before moving to Dubai in 2005. Along the way, she held senior positions in sales and marketing, communications and business development. She has led multinational, interdisciplinary teams for international market projects – MENA, Asia, Europe and the USA – and in diverse sectors, from finance and banking to retail, real estate investment, franchise development and consulting services.

Beyond ribbon-cutting: measuring the real impact of transport projects

Nancy Vandycke's picture
Photo: World Bank/Flickr
Development practitioners often rely on Monitoring and Evaluation (M&E) performance indicators to assess the results of a transport project. Collecting indicators before, during, and after a project allows us to gain insights about project execution and project outputs, which can help us, for example, measure changes in travel time or Bus Rapid Transit (BRT) system ridership. While this approach is important, well anchored into project design, and quite practical, it is not intended to evaluate “impact”. Observed changes in outcomes cannot be attributed to the project: many other external factors, such as economic conditions, interrelated policies or projects, or seasonal trends, also come into play. In other words, a descriptive approach fails to establish causality between a project or intervention and subsequent outcomes such as changes in income, labor markets, quality of life, or market efficiency.

To overcome the limitations of traditional M&E, the development community is increasingly turning to impact evaluation, an alternative approach whose methods more directly address the issue of causality. In that context, the World Bank’s transport experts have partnered with colleagues from the Development Impact Evaluation (DIME) team to rethink the way the impact of transport is measured. Two years ago, with support from the UK Department for International Development (DFID), a transport-dedicated impact evaluation program was launched: “IE Connect for Impact”. Now, impact evaluation is being implemented on 10 projects, covering rural roads, urban mobility, transport corridor development, and road safety. More projects will be selected toward the end of the year, as part of Phase II of the program.

The expected benefits are clear: informing project delivery during design and implementation, documenting the effects of policy and investment interventions, and prioritizing and filling knowledge gaps in the sector. Despite these significant benefits, transport accounts for less than 1% of all impact evaluation work —a very low proportion compared to the weight of other sectors such as in health (65% of all published impact evaluations), education (23%), agriculture and rural development (10%), or water (4%).

In Senegal, food security and women’s empowerment go hand in hand

Louise Cord's picture



Senegal’s nutrition policy is at a crossroads. Reaching a critical moment where the effects of malnutrition could have a detrimental effect on generations of young Senegalese to come, the Government of Senegal is striving to make efforts to address the root problems of malnutrition. However, if these actions are taken without a conscious effort bolster the key role of women in nutrition, the country may not succeed in stymieing stunting and malnutrition in the country.


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