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March 2010

Moving Towards Fulfilling the Millennium Development Goals in Bangladesh

Joe Qian's picture

In 2000, 192 countries and 23 international organizations agreed to work towards fulfilling the eight Millennium Development Goals (MDGs) by 2015. Although progress has been uneven between regions and much remains to be done, global poverty rates have been reduced from 52% of the world’s population living under $1.25 a day in 1981 to 26% in 2008.

Bangladesh has been quite successful through taking a multifaceted approach into achieving these goals. Initiatives such as Notun Jibon which means “New Life” in Bengali not only have emphasized community driven development but also stresses the role of women in education and the community decision making process. The country has already achieved gender parity in primary and secondary schooling and is on track to meet the majority of the MDG’s such as halving infant and maternal mortality rates by 2015.

Response to "Open Governement": Open to Whom?

Johanna Martinsson's picture

A reader's response to the blog post “Open Government”: Open to Whom?:

"Excellent post! Investing in ICTs is fundamental to open and transparent governance.

I am particularly struck by the following lines, "For their part, government officials complained about the lack of recordkeeping and archiving, particularly of the digital variety. Even with the best of intentions, officials may not be able to make information available amid weak information management systems; some of the interviewees pointed out that information about existing programs goes missing, and with it lessons learned -- along with the public’s opportunity to hold agencies accountable."

DM2009 Siberia Winner Reports on Indigenous Peoples' Progress

Tom Grubisich's picture

The 40 Indigenous Peoples of the North, Siberia, and Far East in Russia have had to struggle mightily -- not only against a hostile environment but also what they see as sometimes arbitrary governmental action. But they're making fresh progress, according to this emailed report from DM2009 winner Rodion Sulyandziga (holding award in photo at right), Director of the Center for Support of Indigenous Peoples of the North (CSIPN), which has spearheaded recognition and -- more important practically -- enforcement of Indigenous Peoples' rights:

 

"On April 14-15 in Moscow the Russian Association of Indigenous Peoples of the North (RAIPON) -- the umbrella organization that includes CSIPN -- will be hosting (in partnership with the Public Chamber of the Russian Federation) the Arctic Indigenous Leaders Summit, with the main focus on climate change in the Arctic. The participants are international experts, academia, Arctic states, regional governments, business, and Indigenous Peoples. The Summit will create a good basis for our future activities and networking. It's vital for us to involve federal, regional governments, and business from the scratch.

"We are also invited to the high-level international meeting "The Arctic: Territory of Dialogue" on April 22-23 under Russian Premier Putin to make a presentation on behalf of Indigenous Peoples. This is a good progress."

Geography and Aid

Soren Gigler's picture

Why can’t international donors and project managers think more in terms of the geography and location of their programs? Last week the Aiddata conference in Oxford discussed new approaches to enhance aid transparency and donor coordination. Key issues many panelists discussed were:

 

  1. To what extent aid flows are responsive to local needs?
  2. How to enhance the social accountability of development aid?
  3. How to improve the impact of aid on improving the well-being of poor communities?

What is new in Malaysia’s New Economic Model?

Philip Schellekens's picture
Malaysia's New Economic Model proposes a number of strategic reforms.

Prime Minister Najib has announced the broad outline of the proposed New Economic Model (NEM) at the Invest Malaysia conference.

The objective of the NEM is for Malaysia to join the ranks of the high-income economies, but not at all costs. The growth process needs to be both inclusive and sustainable. Inclusive growth enables the benefits to be broadly shared across all communities. Sustainable growth augments the wealth of current generations in a way that does not come at the expense of future generations.

What Does the Financial Crisis Teach Us about the Feasibility of Different Banking Models?

Asli Demirgüç-Kunt's picture

The recent financial crisis has seen the demise of large investment banks in the U.S.  This major change in the financial landscape has also rekindled interest in discussion of optimal banking models.  All over the world, perceived costs and benefits of combining bank activities of various kinds have given rise to a wide variation in allowed bank activities.  Should banks operate as universal banks, a model which allows banks to combine a wide range of financial activities, including commercial banking, investment banking and insurance; or should their activities be restricted?

To some policymakers the universal banking model may appear to be a more desirable structure for a financial institution due to its resilience to adverse shocks, particularly after the crisis.  However, others have called for the separation of commercial and investment activities (along the lines of the Glass-Steagall Act of 1933 in U.S. which was repealed by Gramm-Leach-Bliley Act in 1999) to minimize the crisis-related costs imposed on taxpayers through the financial safety net.  So which model is more desirable?

Theory, as usual, provides conflicting predictions about the optimal asset and liability mix of an institution.  On the one hand, banks gain information on their customers in the provision of one financial service that may prove useful in the provision of other financial services to these same customers.  Hence, combining different types of activities – non-interesting earning, as well as interest-earning assets – may increase return as well as diversify risks, therefore boosting performance.  This argues for the merits of universal banks.

On the other hand, if a bank becomes too complex, bank managers may actually start taking advantage of this complexity for their own private benefit (what are sometimes known as “agency costs”) at the expense of the bank.  So, too much diversification may actually not be optimal, increasing bank fragility and reducing overall performance.  This tends to support the separation of commercial and investment activities. 


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