The period between the fall of the Berlin Wall and the Great Recession saw probably the most profound reshuffle of individual incomes on the global scale since the Industrial Revolution. This was driven by high growth rates of populous and formerly poor or very poor countries like China, Indonesia, and India; and, on the other hand, by the stagnation or decline of incomes in sub-Saharan Africa and post-communist countries as well as among poorer segments of the population in rich countries.
Over the last few years, social media has revolutionized the way people and institutions communicate and interact. Today, the big question for governments around the world is how to use innovative IT tools to engage diasporas in an ongoing, sustainable, result-oriented and cost-effective dialogue. Here are a few ways that social media helps facilitate that dialogue.
“We are living through the slow decay of the two master narratives – conservative and progressive – that have defined political argument since 1945.”
- Michael Ignatieff, Canadian author, academic, and former politician. In addition to leading the Liberal Party and the Official Opposition of Canada from 2008 until 2011, he has held senior academic posts at the universities of Cambridge, Oxford, Harvard and Toronto.
The Governance Partnership Facility (GPF), a multi-donor trust fund, has released its 2013 Annual Report. The GPF was created in 2008 as a partnership between the World Bank and leading donors from the UK, Australia, Norway, and the Netherlands, in the field of governance with the aim of facilitating the implementation of the Bank’s Governance and Anti-Corruption (GAC) strategy.
A competitive export sector is one of the key engines of a successful transition to high income. Turkish policy makers knew this well, and so they put an increase in export competitiveness at the forefront of their ambitious targets to get the country into the top 10 economies worldwide by 2023. What are the chances of success?
To try and answer this question, the World Bank working closely with Turkey’s Ministry of Economy carried out a Trade Competitiveness Diagnostic (“Turkey Country Economic Memorandum: Trading Up to High Income”), which was just launched in Ankara. The team looked at how Turkey did during the past decade, a period of rapid growth in global trade. It turns out that Turkey did pretty well – its exports during the 2000s grew 15.3 percent annually, twice the average growth in the OECD, 6 percentage points above world trade growth and only 4 percentage points slower than in China. Turkey’s global market share grew by 60 percent (from 0.53 to 0.82 percent) between 2002 and 2009 and is getting close to Turkey’s share of the world population (1.06 percent). At the same time, Turkey increased its export sophistication and improved product quality.
There is clear and present danger that another global food price crisis will emerge sooner than later.
A key signal is the lackluster result of the December 2013 Ministerial meeting of the World Trade Organization (WTO) in Bali, Indonesia - in the heart of the ASEAN community.
The compromises arising from the WTO Bali meeting further demonstrates that many WTO member-nations have returned to a focus on internal domestic politics, sacrificing long-term gains shared across nations, in favor of short-term gains motivated largely by domestic political survival or sheer short-sightedness.
Many of our aspirations revolve around improving our personal finances—keeping better track of spending, saving towards a goal or perhaps getting out of debt. How can we work towards these goals and follow through on these changes?
In international development, knowledge is our most valuable commodity. The right knowledge applied at the right time could change the lives of roughly a billion people who now live on less than $1.25 per day. In response to their plight, the World Bank Group has set two ambitious goals: to end extreme poverty by 2030, and to boost shared prosperity for the poorest 40% of people in developing nations.
To achieve these goals, we need to use all of the World Bank Group’s assets: our finances; our global presence and convening power; and especially our vast store of development knowledge and experience. If we assemble the best global knowledge, share it quickly, and help countries apply it to local problems, we can empower the poor to shape their countries’ future.
Not all of our knowledge is on a shelf, or in digital and multimedia products. Much is in the minds of our thousands of experts who work in over 120 countries around the world.
But we know that our knowledge does not always move fast enough, or get to the right people at the right time. A recent working paper, written by two World Bank Group colleagues, highlighted this problem (and also got some media attention — not all of it accurate). It’s not just technical problems that stop our digital knowledge from flowing (such as PDFs that are not easily searchable) — our knowledge is also often stuck in organizational silos. Our staff in East Asia don’t talk enough to their counterparts in Africa, for example, and our water experts don’t always connect enough with our health staff. These impediments are a legacy of our organizational culture, structure, and incentives. We can do better.
On July 1, we’re going to break down the walls of those organizational silos, in one of the most significant reforms in the World Bank’s history. We’re reorganizing our knowledge services to create Global Practices and Cross Cutting Solution Areas, to assemble the world’s best experts and knowledge, and make it more accessible to our clients. Wherever our experts are sitting, whatever issue they work on, they will be linked in a much more active way with their colleagues, in areas like education, trade and competiveness, transportation and information technology, environment and natural resources, and energy.