With this week's kickoff of the 2016 China “Business 20” (B20) proceedings in Beijing, this is an opportune time to reflect on some of the key accomplishments of the 2015 Turkey B20. As many readers of this blog know, the B20 is the premier dialogue platform of the business community with the G20 policymakers representing the most important economies of the world, and it is influential in identifying and supporting policies that are crucial for overall economic development. I believe that taking stock of the past enables us to learn from both successes and failures, and helps sustain the momentum on what worked and generated the desired impact.
Looking back at my involvement as Chair of the B20 Steering Committee, what strikes me as a major achievement is the amplification of the voice of small and medium enterprises (SMEs). I believe that, if we want our economies to have healthy and inclusive growths, this must remain as a key priority for the upcoming B20 in China.
Participants in the Turkish G20/B20 process shared the assessment that SMEs’ potential was not being fully realized. SMEs account for about two-thirds of all private-sector jobs globally and about 80 percent of net job growth. They are the engine for equitable growth and poverty alleviation. And they are the backbone of the middle class and of social stability. Yet they suffer disproportionately from limited access to markets, finance, talent, skills and innovation. In addition, regulations also often put them at a disadvantage. Until recently, SMEs had lacked an organization that would champion their cause.
With these major issues in mind, and with strong deliberations of the B20 Leadership and support from the G20 Finance Ministers, last year TOBB and the ICC officially founded the World SME Forum (WSF), with the mission to help improve the overall growth and impact of SMEs globally, by effectively tackling the key challenges they face. WSF aims to provide SMEs with effective representation and to advance the recognition of the role of SMEs in the global economy by partnering with international financial institutions (IFIs) and development agencies. WSF has membership from associations and chambers working in the SME space from all over the world.
WSF is ready to represent SME interests with regional and global bodies, and to advocate for better rules and regulations among standard-setters.
As I am on my way to Beijing, I cannot help but think that this is indeed a major achievement, which will give the SME development agenda a much better chance at succeeding. WSF can be a “bridge” across B20 presidencies, so that we can ensure continuity in the crucial SME agenda. WSF can help avoid any loss of momentum on the implementation of the recommendations we develop during each cycle.
Even better, after B20 China officially decided to continue the SME Development Taskforce, which was started for the first time by B20 Turkey, they invited WSF to be a Business Network Partner for the Taskforce. WSF will therefore be coordinating the network and will help drive the ideas that emerge from the Taskforce discussions into implementation.
Sub-Saharan Africa continues to suffer from a major energy deficit, with hundreds of millions of people lacking access to electricity and clean cooking fuels. There is a great need for innovative mechanisms that can help families access clean and affordable energy. The Carbon Initiative for Development (Ci-Dev) is one such mechanism.
A $125 million fund with a pipeline of 14 pilot projects in Africa, Ci-Dev will help improve living standards and sustainable energy through results-based finance. Along the way, it will generate valuable lessons in how reducing greenhouse gas emissions can generate tangible development benefits for local communities, like cleaner air, improved safety, and financial and time savings.
These lessons can help in the delivery and scale up of innovative climate finance business models.
When was the last time you unfolded a map on your last road trip? Or went to the post office to mail a letter? With a few swipes of your thumbs, you can pay bills, buy and sell stuff, hold conference calls, and talk to your friends and family. Whatever you need, and everything you may not know you need, there’s an app for that. If you’re plugged in, the world is, literally, at your fingertips.
Government works best when citizens are directly engaged in policymaking & public service delivery. This month we’ve been highlighting the importance of government responsiveness for fostering an active citizenry.
Think you know about citizen engagement? Take our quiz based on some of our most recent blogs and find out! And let us know how you did by sharing your score on twitter @wbg_gov!
Want to know more? Enroll for free in World Bank course on Citizen Engagement which starts on February 1 to learn how you could help improve public services.
- A quora discussion with Susan Athey has the most thorough explanation I’ve seen of why so many tech companies are hiring economists, and the types of work they are doing in these companies.
- The IGC blog has a summary of recent work looking at the external validity of the Angrist and Evans instrument for family size (if your first two kids are the same gender, you are more likely to have a third)
- Cyrus Samii with a useful reminder on how inverse covariance weighting vs factor analysis works in aggregating several variables.
- development impact links
The rapid spread of digital technologies has been a development success. But has it also resulted in successful development? No, not when the basic foundations of economic development are missing, argues the World Development Report 2016: Digital Dividends.
Increased prosperity and our incessant desire to stay connected have contributed to the rapid spread of digital technologies. More households in developing countries own a mobile phone than have access to electricity or clean water. Nearly 70 percent of the bottom-fifth of the population in developing countries own a mobile phone. The number of Internet users has more than tripled in the last decade—from 1 billion in 2005 to an estimated 3.2 billion at the end of 2015.
Read the rest of this blog here.
To discuss some of the key infrastructure challenges faced by its client countries, the World Bank recently hosted its first International Conference on "Sustainable Development through Quality Infrastructure” in Tokyo, Japan. But what exactly do we mean by "quality infrastructure", and what role can it play in creating resilient, sustainable cities?
The December 31, 2015 issue of the New England Journal of Medicine published an article by Snowden et al. that compared outcomes for births planned at a hospital vs. at home or at a freestanding birth center. I’ll discuss the findings and identification in a little bit (you can see the NYT article by Pam Belluck here). But, I actually want to discuss the characteristics of women who plan their births at a hospital vs. elsewhere.