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How do we achieve sustained growth? Through human capital, and East Asia and the Pacific proves it

Michael Crawford's picture
Students at Beijing Bayi High School in China. Photo: World Bank


In 1950, the average working-age person in the world had  almost three years of education, but in East Asia and Pacific (EAP), the  average person had less than half that amount. Around this time, countries in  the EAP  region put themselves on a path that focused on growth  driven by human capital. They made significant and steady investments in  schooling to close the educational attainment gap with the rest of the world. While  improving their school systems, they also put their human capital to work in  labor markets. As a result, economic growth has been stellar: for four decades  EAP has grown at roughly twice the pace of the global average. What is more, no  slowdown is in sight for rising prosperity.

High economic growth and strong human capital accumulation  are deeply intertwined. In a recent paper, Daron Acemoglu and David Autor explore  the way skills and labor markets interact: Human capital is the central  determinant of economic growth and is the main—and very likely the only—means  to achieve shared growth when technology is changing quickly and raising the  demand for skills. Skills promote productivity and growth, but if there are not  enough skilled workers, growth soon chokes off. If, by contrast, skills are abundant and  average skill-levels keep rising, technological change can drive productivity  and growth without stoking inequality.

Cheers, NZ: How New Zealand and the World Bank are changing lives in the Pacific

Kara Mouyis's picture




New Zealand has a long history of supporting its close neighbors in the Pacific, both in times of disaster and emergencies, and to help improve the lives of many thousands across the region.

On Waitangi Day, the national day of New Zealand, we take a look at three key World Bank projects in the Pacific, and how New Zealand’s support has been integral to making them happen.

To Enable or Disable? That’s the Question in Transport Projects

Chris Bennett's picture
Most of us are familiar with Benjamin Franklin’s observation that “In this world nothing can be said to be certain, except death and taxes.”  For many of us, we could also add physical disability. The World Bank has estimated that about 15% of the world’s population experience some form of disability during their lifetime, and up to 190 million experience significant disability.
 
Persons with disabilities, on average as a group, are more likely to also experience adverse socioeconomic outcomes than persons without disabilities. They tend to have higher poverty rates, and be isolated from societies. The Sustainable Development Goals (SDGs) framework includes seven targets which explicitly refer to persons with disabilities and six further targets on people in vulnerable situations which include persons with disabilities.
 
We in the transport sector have an important role to play in helping ensure inclusive development and mobility by removing access barriers. Recent work done in the Pacific Islands provides us with a relevant set of tools which we can be readily applied on our projects to achieve this inclusiveness.

On International Women’s Day, 5 facts about gender and the law in the Pacific Islands

Katrin Schulz's picture




There is a lot that development practitioners don’t know about the Pacific Islands. When it comes to the laws of these small island nations scattered throughout the ocean separating Asia and the Americas, most people outside the region know even less. Add the dimension of gender to the mix and you might be met with blank stares.

We must prepare now for another major El Niño

Axel van Trotsenburg's picture
El Niño is back and may be stronger than ever.
 
A wooden boat is seen stranded on the dry cracked riverbed of the Dawuhan Dam during drought season in Madiun, Indonesia's East Java province.  October 28, 2015 © ANTARA FOTO/Reuters/Corbis



The latest cyclical warming of Pacific Ocean waters, first observed centuries ago and formally tracked since 1950, began earlier this year and already has been felt across Asia, Africa and Latin America.

Weather experts predict this El Niño will continue into the spring of 2016 and could wreak havoc, because climate change is likely to exacerbate the intensity of storms and flooding in some places and of severe drought and water shortages in others.

El Niño’s impacts are global, with heavy rain and severe flooding expected in South America and scorching weather and drought conditions likely in the Horn of Africa region.

Part of the #Youthbiz movement? Share your story!

Valerie Lorena's picture

Also available in: Français | العربية
 



A boat trip from Port Elizabeth to Kingstown, in the Caribbean country of Saint Vincent and the Grenadines, is a one-hour trip that locals take several times a day. It was during one of these journeys that the boat of Kamara Jerome, a young Vincentian fisherman, ran out of gas six miles from Bequia City in what is termed locally as the "Bequia Channel." While waiting for help with strong wind gusts and the sun on his head, the idea of developing a boat that would run with wind and solar energy was born. Soon after, the idea became a prototype; a boat using green technology was on the water making 20-year-old Jerome a winner of international innovation competitions and a role model to other Caribbean youth. 
 
In Mexico, young engineer Daniel Gomez runs a multimillion bio-diesel company originally conceived as a research project for his high school chemistry class. Gomez and his partners - Guillermo Colunga, Antonio Lopez, and Mauricio Pareja - founded SOLBEN (Solutions in bio-energy in Spanish) in their early twenties. 
 
Although Daniel and Kamara have different educational backgrounds, they do share one important skill, the ability to identify a problem, develop an innovative solution, and take it to the market. In other words, being an entrepreneur, an alternative to be economically active, that seems to work and not only for a few.

Now is the time to strengthen disaster risk reduction in East Asia and the Pacific

Axel van Trotsenburg's picture
In PDF: Korean | Khmer

Every time I learn of another natural disaster – the people killed and injured, homes destroyed, livelihoods lost – I know we must act to reduce the tragic impact instead of waiting for the next disaster strikes.

We have that chance with this year’s World Conference on Disaster Risk Reduction in Sendai, which seeks to finalize the successor to the Hyogo Framework for Action (HFA2) that guides policymakers and international stakeholders in managing disaster risk. The conference is an opportunity to set new milestones in disaster risk reduction and fighting poverty.

The cost of natural disasters already is high – 2.5 million people and $4 trillion lost over the past 30 years with a corresponding blow to development efforts.

In Asia, rapid urbanization combined with poor planning dramatically increases the exposure of cities, particularly those along densely populated coasts and river basins. Typhoon Haiyan, which killed more than 7,350 people in the Philippines in 2013, directly contributed to a 1.2 percent rise in poverty.
 

Taking Action on Climate Change for the Youth of the World

Lachlan Hoyle's picture
© Conor Ashleigh

The risks created by climate change are well known. Regardless of political views, when the majority of respected and leading science institutions say that climate change is happening, I believe that we have a problem. 

From a young person’s perspective, I do not want to inherit a world that is torn apart by an issue that could have been minimized if we all took action. I don’t want a world that is destroyed by inaction and pointless bickering. If we continue to do nothing, or not enough, we will all be living in a world that could have been prevented. Inaction will tear our world apart.

Picture (not) perfect – a look behind the scenes of Small Island Developing States

Denis Jordy's picture
Stunning photos we usually associate with the Pacific Islands often overlook the reality for many who live there. Faced with natural hazards and remoteness, they are some of the most vulnerable nations in the world.
Stunning photos we usually associate with the Pacific Islands often overlook the reality for many who live there. Faced with natural hazards and remoteness, they are some of the most vulnerable nations in the world.



A picture can tell a thousand words but the stunning photos we usually associate with the Pacific Islands often overlook the reality for many who live there. Faced with natural hazards such as cyclones, droughts and earthquakes alongside geographical remoteness and isolation, Pacific Island countries, which make up over a third of small island developing states (SIDS), are some of the most vulnerable nations in the world. 
 
Already this year the Pacific region has been hit by two major disasters; Tropical Cyclone Ian in Tonga in January, followed by flash flooding in Solomon Islands in April. Both disasters had devastating impacts on the economy and livelihoods of local communities. Situated within the cyclone belt and Pacific Ring of Fire, earthquakes, tsunamis and cyclones are frequent. Around 41 tropical cyclones occur each year across the region as well as numerous earthquakes and floods.
 


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