Energy is essential to heat homes and cook meals. It is needed to deliver proper health care in hospitals and to teach children. It is essential for economic growth and development and for powering industries, farms and businesses. It is at the heart of any effort to make a better life possible for people all over the world, in particular for the world’s poorest.
Diversification of a country’s exports – increasing both the number of products it produces and the destinations of those products – is considered part of the path to development. Many economists and policy-makers see export diversification as an important means for increasing employment and speeding growth. Diversification also makes growth more stable, as it provides protection against shocks; a country that exports many products will not be hit so hard when the price of one falls, and similarly, a nation that exports to a wide variety of destinations will be shielded against a recession in one of them.
But new evidence contributes to a body of work suggesting that countries with an abundance of natural resources might be more prone to export concentration during spurts of high natural-resource prices – mainly in products, but also to a milder extent in trading partners – leaving them more vulnerable to price swings.
Cities have always been the driving forces of world civilizations. What Niniveh was to the Assyrian civilization, Babylon was to the Babylonian civilization. When Peter the Great, third in the Romanov Dynasty, became Russia’s ruler in 1696, Moscow’s influence began to expand. Peter strengthened the rule of the tsar and westernized Russia, at the same time, making it a European powerhouse and greatly expanding its borders. By 1918, the Russian empire spanned a vast territory from Western Europe to China.
As Peter the Great and his successors strove to consolidate their reign over this empire, major social, economic, cultural, and political changes were happening in the urban centers. Moscow led these changes, followed by St. Petersburg, which was built as a gateway to filter and channel western civilization through the empire. By fostering diversification through connectivity, specialization, and scale economies, these cities started the structural transformation of the Russian empire away from depending on commodities and limited markets in a way that more effectively served local demand.
The Soviet era altered this dynamic.
Emerging Europe and Central Asia (ECA) is an interesting region because what you expect is not always what exists. Since this is written in honor of International Women's Day, discussing women’s labor market participation seems appropriate. The standard indicator used for this is the “female labor force participation” (LFP) rate, which is the proportion of all women between 15-64 years who either work or are looking for work.
Since much of the region has a common socialist legacy, you would expect to see similar labor market behavior among women. However, the proportion of women who work ranges from a low of 42 percent in Bosnia and Herzegovina to 74 percent of adult women in Kazakhstan. And it wasn’t 20 years of social and economic transition that led to this divergence. Even in 1990, the range was about the same. The exception was Moldova which saw a 26 percentage point decline.
- Russian Federation
- Kyrgyz Republic
- Bosnia and Herzegovina
- Europe and Central Asia
- Labor and Social Protection
- Social Development
- Macroeconomics and Economic Growth
- labor market
- international women's day
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