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June 2013

Prospects Daily: Turkish financial markets tumble, US home builders’ confidence rises, Sri Lankan growth eases

Global Macroeconomics Team's picture
Financial Markets…World shares bounced back from last week’s large losses on Monday, with benchmark indexes in Asia, Europe, and U.S. all gaining more than 1%, amid expectation that the Federal Reserve will provide some clarity on its stimulus plans after concluding its two-day meeting on Wednesday. Uncertainty over the direction of Fed’s monetary policy has prompted a sell-off in global financial markets since late May.

Is Civil Society Uncivil?

John Garrison's picture

Having worked with civil society engagement work at the World Bank for many years, it is not uncommon for colleagues to see me in the hallway and jokingly ask: “is civil society still acting uncivil?”. The assumption being that when Civil Society Organizations (CSOs) criticize the Bank they are not being constructive and thus not acting civil. While I understand the good-natured ribbing, I and most of my Bank colleagues actually believe the opposite is true. Most advocacy CSOs are being effective global citizens by monitoring the policies and programs of governments and inter-governmental organizations such as the World Bank. After all, governments and multilateral development Banks serve at the behest of citizens and thus they should welcome a watchful eye from CSOs, media, and citizen organizations to ensure that its taxpayer-generated international development funds are being well spent. In addition, as Bank President Jim Yong Kim recently said at the closing plenary of the 2013 InterAction Forum, important changes and reforms in history – such as the concerted response to the AIDS epidemic – are often driven by citizen activism spearheaded by CSOs. He further argued that what is now needed is a global citizens’ movement to advocate for effective climate change policies.

What’s in Kyrgyzstan’s future?

Alex Kremer's picture

The problem with the World Bank’s 20th anniversary in Kyrgyzstan last November was that everybody else’s party had happened already.

There has been a blur of speeches, gala concerts, jazz bands, canapés, toasts and traditional performances as one embassy after another feted twenty years of partnership with the Kyrgyz Republic. The same guests, speeches, and – truth be told - probably the same canapés.

We had to do something different. So, as we celebrated the last 20 years of our work in Kyrgyzstan (which have been quite good), we toasted the next 20 years as well.


 

World Bank to publish Purchasing Power Parities in December 2013

Frederic A. Vogel's picture

Given the complex nature of the ICP and the fact that it has become the largest worldwide statistical operation, the program decided that the December release will be postponed until March 2014, in an effort to produce the utmost quality results. Read more ...

The preliminary results from the 2011 round of the International Comparison Program (ICP) will be released in December 2013 followed by a more in-depth report in March 2014. The first release will provide Purchasing Power Parities (PPPs), price level indexes, and real expenditures for gross domestic product (GDP) and major aggregates for over 190 countries. Major economic indicators on the global economy produced by the World Bank are based on PPPs which are used to provide internationally comparable price and volume measures for GDP and its expenditure components. The same PPPs are used to determine comparable poverty levels across countries based on the $1.25 per day poverty line.

Ending Extreme Poverty In Our Generation

Kate Dooley's picture

It sounds impossible.  Unthinkable.  A world free from extreme poverty.  A world in which no child is born to die, no child goes to bed hungry, every child lives a life free from violence and abuse and has quality health care, nutrition and learns in school. This has long been Save the Children’s vision but could now be a shared global vision, and by 2030 perhaps, a reality.

On  May 30, 2013, a special panel of world leaders handed in their recommendations to the United Nations (UN) Secretary General on the future of global sustainable development and they, too, believe this can be our reality.

The Palestinian paradox as an opportunity

Shanta Devarajan's picture
        World Bank | Arne Hoel

For its level of per-capita income (around $1,500), the Palestinian territories have among the best social indicators in the world. These achievements are all the more remarkable given the difficult economic circumstances facing the Palestinian territories. In contrast to other countries such as India, Indonesia or Peru, teachers in the Palestinian territories do teach and clinics are staffed with health workers.

Quote of the Week: Ian Bremmer

Sina Odugbemi's picture

“Around the world, the race is on between a communications revolution that empowers the individual and a data revolution designed to protect the state. This contest will play out in different countries in different ways…We can’t yet know how this race will end, but it is a mistake to assume the state can’t hold its own for years to come.”

- Ian Bremmer. Author and President of Eurasia Group, a global political risk research and consulting firm.

Adequacy of Reporting in Economics

Berk Ozler's picture
Should the identity of the author affect the interpretation of the existing evidence? You might answer ‘no,’ but it does. And when it does, it may affect the decision of influential people and institutions, such as a multilateral donor organization or, in the following case, a high level panel discussing the post-MDGs development agenda.

Asha by boat: the last mile over water

Onno Ruhl's picture

 

“If I don’t get a hundred it would be a bad day.” said Muniran Bibi. She sounded like an ambitious cricket player. “The boat clinic is our only chance of getting health care here on the island.” she insisted. “If not many people come, a big chance would be wasted for them.” Her eyes were bright with anticipation. 

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