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June 2013

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

Africa Renewal
Africa Wired

"The country that gave the world two groundbreaking innovations in technology: M-Pesa, a mobile banking system, and Ushahidi, a platform for crowdsourcing information during disasters, is now taking its technological talents to new heights. The East African nation of Kenya has just started construction on a 5,000-acres piece of land in Konza, about 60km south of Nairobi, to turn the savannah area into ‘the most modern city in Africa’.

Using the same company that designed Brooklyn’s Barclays Center in New York City, SHoP Architects, Kenyan authorities want to transform Nairobi’s Konza City into Africa’s technology hub, dubbed Silicon Savannah, similar to California’s Silicon Valley. The designers told the UK’s Financial Times that ‘the scale of the project compares with creating another Manhattan, central London or inner-city Beijing.’"  READ MORE

Where do women stand in the battle for Egypt’s future?

Guest Blogger's picture

Where do women stand in the battle for Egypt’s future?

More than two years after Egypt's populist revolution in which men, women and people from all across the social and age spectrum revolted to put an end to the 30 year old regime of Mubarak under the motto "bread, freedom, social justice" it is worth examining what this social and political upheaval has meant for the status of women in Egypt.

Why are we trapped in financial crises?

Claire McGuire's picture


The financial crises has entered a new, difficult phase (Credit:©iStockphoto.com/Photomorphic)

The Thirteenth Annual Financial Sector World Bank/Federal Reserve/International Monetary Fund Seminar on Policy Challenges for the Financial Sector was held on June 5 to 7th, attracting more than 90 participants from over 60 countries. There were many distinguished speakers, including World Bank President Jim Yong Kim, IMF Managing Director Christine Lagarde and Federal Reserve Chairman Ben Bernanke.  One of the highlights was a provocative lunchtime address on The Contradictions of System Stability: One Asian View by Andrew Sheng, the President of the Fung Global Institute.

When field studies diverge from lab experiments: the case of incentivized blood donations: Guest post by Mario Macis

Do economic incentives crowd out individuals’ intrinsic motivation for certain activities that are performed in the absence of explicit rewards, such as volunteering in soup kitchens, recycling, or giving blood? This is an important question with implications for public policy and has been explored on Development Impact with a number of recent posts (here is the latest one from Jed).

New Climate Report Emphasizes Urgency

Jane Ebinger's picture

 Wutthichai/Shutterstock

Bangkok is a vibrant, cosmopolitan city, home to more than eight million people. However, a new report released by the World Bank today paints a grim picture for the Thai capital. It notes that, without adaptation, a predicted 15cm sea-level rise by the 2030s coupled with extreme rainfall events could inundate 40% of the Thai capital and almost 70% of Bangkok by the 2080s. While I certainly hope it doesn't happen, words cannot describe the impact this would have on the lives and livelihoods of people residing in this city.  And Thailand isn’t the only country that could be affected by rising temperatures. 

The report - Turn Down the Heat:  Climate Extremes, Regional Impacts, and the Case for Resilience - was commissioned by the World Bank’s Global Expert Team on Climate Change Adaptation and prepared by a team of scientists at the Potsdam Institute for Climate Impact Research and Climate Analytics. It looks at the latest peer-reviewed science and with the aid of advanced computer simulations looks at the likely impacts of present day (0.8°C), 2°C, and 4°C warming across three regions – Sub-Saharan Africa, South Asia, and South East Asia. It focuses on the lives and livelihoods of people in the developing world by analyzing the risks to agriculture and food security in sub-Saharan Africa; the rise in sea-level, bleaching of coral reefs and their impact on coastal communities in South East Asia; and the impact of fluctuating rainfall patterns on food production in South Asia. The poor and the vulnerable are the ones that will be most affected by the impacts of climate change.

Open Data, Open Policy: Stepping Out of the Echo Chamber

Milica Begovic's picture

Recently, I participated in several events that look at the space between empowered government (gov2.0) and empowered citizens (citizen2.0 both individuals and civic groups and NGOs).

One discussion was around tapping into networks of empowered citizens clustering around different issues for open policy making (Masters of Networks, Venice) and another on getting human-readable stories from data (Open Data on the Web, London).

Then, there was a question on how open data and modern technologies can improve environmental sector governance (#ICT4ENV, Cetinje), or strengthen political transparency and accountability (Point 2.0, Sarajevo).

Different countries, different venues, different leading institutions – but a common set of issues that I struggle with and that, I hope, will emerge as topics in some future events (one of those, shaping up to be the policy making 2.0. deluge in Dublin, is coming up this month).

The Supply Side of the Coin: Is Monetary Policy (Where There Is One) Passing Results?

Matija Laco's picture

Sovereign difficulties have divided financial markets in the Euro area, thereby increasing differences in bank lending rates across countries. Policy makers in both Brussels and Frankfurt are concerned about an uneven transmission of policy interest rate cuts by the European Central Bank (ECB) to bank lending rates across the region.

Based on this situation, a key question stands out: is the link between official, market, and retail interest rates broken?

When markets are functioning properly, interest rates on loans follow the policy rate in a uniform way across countries (granted with some lag). But, in the context of the ongoing crisis, markets became somewhat irresponsive – resulting in ECB rate cuts being unevenly passed on to borrowers across Euro-area countries. This uneven distribution has meant that those countries facing greater financial difficulties had to endure tougher financing conditions than those facing fewer difficulties – as exemplified when comparing Spanish and Italian retail rates to the much-lower French and German ones.  

So far, the economic literature has been relatively robust in arguing that government bond yields or credit default swaps (CDSs), given their stability, do not exert much influence on the way banks set their interest rates for their clients. However, the crisis has shown that because of the interconnectedness of central bank and sovereign balance sheets, developments in sovereign markets affect retail interest rates.

How has this played out in the EU11 countries? Have retail interest rate decreased in those countries where central banks reduced their policy rates? Or, was this a reaction on downward movement of CDSs?

Figure 1.  Interest rates on new lending to enterprises (in Percent) and CDS spreads (in basis points) in selected EU11 countries


 

Helping Women Cross Borders and Break Barriers in Customs Administration: A WCO Conference

Alan Hall's picture

 IPS/Inter Press Service. In many parts of the world, border-crossings are more than just an annoyance for women traders. Women can be subject to physical and sexual abuse from border officials, or charged illegal fees because they cannot read a receipt. Yet women traders are vital to some of the poorest economies in the world.

In addition to – and perhaps related to – the heightened risks women take in cross-border trade, they are underrepresented in the institutions that manage those borders. Men dominate the ranks of customs officials around the globe. One recent count estimated just 45 women in leadership positions in customs administration worldwide.

The World Customs Organization (WCO) is trying to change that statistic. On July 1, the WCO, with support from the World Bank, will hold a conference in Brussels to stimulate a conversation about women in customs - about their empowerment through both trade and public administration. Called the Women in Customs, Trade and Leadership Conference, the day-long agenda will address the hurdles faced by women in a wide range of roles, from informal traders to customs officials.

Egypt Development Marketplace Awards Grants!

Dougg Jimenez's picture

The Egypt Development Marketplace 2013 grantees, partners and DM team.Thirty-five organizations will be awarded $800,000 by the Egypt Development Marketplace (DM) funded by The World Bank Group (WBG) and its local and international partners. Each of the grantees will receive $25,000 to scale up their business model that would generate employment in the agriculture and handicraft sectors. Winning organizations will beshowcased at a DM sponsored event. A number of financial institutions, social entrepreneurs, investors, development organizations, and government officials will also participate in the event to bring attention to organizations implementing innovative solutions to unemployment in the country.

Overwhelming response to “Call for Proposal”

The call for proposals was launched in November and closed in January. At closing, 180 proposals from 171 organizations were submitted for funding. Preference was given to projects implemented in Upper Egypt and the majority of proposals were for projects in Minya. Applicants comprised the following types of organizations: 89 percent were Non-governmental Organizations (NGOs), 7 percent were private companies and 4 percent were foundations.

From its conception, the Egypt DM has been designed to surface and build the skills of organizations creating jobs in the country, primarily in the poorest areas with an emphasis on Upper Egypt. To generate interest in the competition and to ensure organizations operating in targeted areas applied, outreach events were held in Assyut, Qena, Aswan, and Minya. As a follow up, skill-building workshops in business planning were held for each of the 70 finalists to ensure high quality proposals were submitted.


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