If the deluge of trend pieces tell us anything, it’s that the millennials are the most fussed over demographic in history. But behind the hype, there is real a tectonic shift. We are now witnessing the largest youth bulge in history. Over half the world’s population is now under thirty, with the majority living in developing and middle-income countries.
A youthful population can be source of creativity, innovation and growth –but only if employed and engaged in their societies. Unfortunately, for much of the world’s young people, reality is very different.
A number of hurdles prevent young people from contributing as productive, socially responsible citizens. As Emma Murphy of Durham University notes, “Poor education limits their skills, poor employment limits their transition to adulthood and political obstacles limit their voice and participation.”
The longer young people are excluded from participating in their economic and political systems, the further we are from realizing the ‘demographic dividend’.
It’s a no-brainer. A youth agenda, focusing on the issues that affect young people, must be a critical piece of any post-2015 framework. Where do we start?
2015 forecasts for sales of technology devices indicate global stability as the market remains at around one trillion USD, where it has hovered for the last three years. However, the forecasts also predict shifts at the country level as the top ten largest growth markets will increase by over $10 billion. Emerging markets, in which both volume and pricing contribute to positive sales, will dominate this growth.
India will experience the highest growth rate, primarily driven by smartphones sales, followed by China. China's technology device market represents an interesting case study because it is predicted to grow by just $1.8 billion in 2015-- a mere 1% increase over the estimated 2014 total-- but that is still large enough for second place.
Water is an essential part of life and roughly one in ten of the world’s population—748 million people—do not have access to safe water. In South Asia, about 1.5 billion people are affected by water stress and scarcity, due to increasing demand for water resources; as the climate changes, this may worsen the situation.
Treating water as a precious natural resource important for all, brings new perspective to sustainable water resource management and long-term sustainable growth in the Ganges-Brahmaputra river basin both upstream in India and downstream in Bangladesh. A World Bank initiative serves as a linchpin for developing an inclusive analytical framework that promotes access to water, improved efficiency, climate resilience and poverty alleviation in South Asia. So, the question arises: Is this too ambitious and is it achievable?
In a new paper, we address this question using detailed manufacturing census data from India. India offers an ideal laboratory for testing the role of institutions on firm lifecycle given the large persistent differences in institutions, business environment, and income across different regions. Specifically, we examine the relationship between plant size, age, and growth and ask: how does local financial development influence the size-age relationship? Are there differences in the size-age relationship across different industry characteristics and between the formal and informal manufacturing sector and does this vary with the extent of local financial development? Does the role of local financial development on firm lifecycle vary with major regulation changes in India such as financial liberalization, changes in labor regulation, and industry de-licensing?
“Smart city” has become a buzzword in India ever since Prime Minister Narendra Modi outlined his vision for creating a series (a hundred, to be exact) of them. Since then, there have been many debates to unpack, understand and define the smart city. “Smart cities” joins the long list of many other often overused city descriptors such as “creative cities”, “sustainable cities”, “eco-cities”, “resilient cities” and “livable cities”.
How much social mobility is there in South Asia? The intuitive answer is: very little. South Asia is home to the biggest number of poor in the world and key development outcomes – from child mortality to malnutrition – suggest that poverty is entrenched. Absence of mobility is arguably what defines the caste system, in which occupations are essentially set for individuals at birth. Not surprisingly, the prospects for people from disadvantaged backgrounds to prosper are believed to be gloomier in this part of the world.
And yet, our analysis in Addressing Inequality in South Asia, reveals that economic and occupational mobility has become substantial in the region in recent decades. In fact, it could even be comparable to that of very dynamic societies such as the United States and Vietnam. The analysis also suggests that cities support greater mobility than rural areas, and that wage employment – both formal and informal – is one of its main drivers.
When splitting the population into three groups—poor, vulnerable, and middle class—upward mobility within the same generation was considerable for both the poor and the vulnerable. In both Bangladesh and India, a considerable fraction of households moved above the poverty line between 2005 and 2010. Meanwhile, a sizable proportion of the poor and the vulnerable moved into the middle class. In India, households from Scheduled Castes and Scheduled Tribes – considered together – experienced upward mobility comparable to that of the rest of the population.