The numbers are staggering. Almost one third of the populations of Algeria and Morocco are under the age of 15, with Tunisia following close behind. This ‘youth bulge’ is placing immense pressure on the education systems of the Maghreb.
With Aaron Flaeen and Saurabh Mishra
Many developing countries have successfully made the transition from low-income to middle-income status, thanks to rapid economic growth, but have subsequently got stuck in a middle income trap. A great deal of research has been done on what explains much faster growth in the developing world than in the developed world (Acemoglu et al 2011; Baldwin 2011; Commission on Growth and Development 2008; Rodrik 2013; UNIDO 2011). But little is known about why so few countries succeed in making the transition from middle-income to high-income status (The Economist, 2013). This is a worrying trend and an issue of major concern, especially because the majority of poor people now live not in low-income but in middle-income countries (Chandy and Gertz, 2011; Sumner and Kanbur, 2011). So what is a middle income trap? What should policy makers do?
We have examined these questions in the context of Malaysia, whose structural transformation from low to middle income has made it one of the most prominent manufacturing exporters’ in the world. However, in a competitive global economy, like many other middle-income economies, it is sandwiched between low-wage economies on one side and more innovative advanced economies on the other.
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Elephant ivory is on the march. Not elephants, but their ivory. The elephants are left bloodied and dead on the range. So are many rangers who work to protect a country’s natural capital. In the past 10 years, over 1,000 rangers have been murdered in 35 countries alone; the International Ranger Federation tell us that as many as 5,000 may have been murdered worldwide in that time.
At the CITES COP – the Conference of the Parties to the Convention on International Trade in Endangered Species – the halls in Bangkok ring loud with concern for the elephants and other charismatic species, particularly rhinos, that are being exterminated across Africa in pursuit of private profit, at the expense of communities that rely on nature for their food, shelter, start-up capital, and safety net in a warming world.
So why should the World Bank care? Our concern is to build strong economies and healthy communities by revving the engine of inclusive green growth as we prepare countries and communities for the impacts of climate change.
What does this have to do with elephant ivory you ask? Simply put, we cannot achieve our dream of a world without poverty without taking account of the rise in wildlife crime.
- endangered species
- South Asia
- East Asia and Pacific
- Sri Lanka
- South Africa
- Lao People's Democratic Republic
- Congo, Republic of
- Congo, Democratic Republic of
This past week, I attended a couple of interesting seminars at the World Bank’s Human Development Forum on how some mineral-rich countries have been able to translate their newfound riches into sustained economic growth, improved living conditions, and better nutrition, health and education levels for their populations.
Historically, cities and civilizations have flourished along water bodies, which not only served as important transportation corridors to spur economic activity and trade, but also as prominent public spaces for religious and cultural interaction. Today, while a large number of cities have turned away from this important natural resource, many have reclaimed and transformed their waterfronts into thriving economic engines and nodes of social activity. Can cities redefine their relationship with water while managing challenges of rapid urbanization?
The World Bank’s South Asia Sustainable Development Unit, in collaboration with East Asia Pacific Sustainable Development Unit, is organizing a webinar on waterfront development to discuss different dimensions of waterfront initiatives and tools for a sustainable regenerative economic environment.
Financial Markets…U.S. Treasuries slid for the first time in four days, with the benchmark note yields 3 basis points to 1.62%, as a government report showed U.S. employers added more than forecasted jobs in November. U.S government bonds have advanced 2.8% this year as of yesterday, after gaining 9.8% in 2011 and 5.9% in 2010.
In Malaysia, over half of all HIV infections are transmitted through sharing contaminated needles and syringes. To combat the spread of the epidemic, the government in 2006 spearheaded 'harm reduction' interventions (pdf) which included a program where people who inject drugs are provided unused needles and syringes in exchange for used injecting equipment. Those who are addicted to opioids such as heroin, the most commonly used illicit substance in Malaysia, can also enroll in rehabilitation for synthetic opioid replacement therapy. Synthetic opioids, taken orally, help stabilize the opioid cravings of patients, thus enabling them to work. The move to introduce harm reduction in Malaysia revealed something that caught people by surprise—many of the fishermen from port city on the east coast of peninsular Malaysia use drugs.
On Nov. 7, 2012, a motorboat carrying 110 illegal immigrants heading for Malaysia capsized in the Bay of Bengal close to Bangladesh’s southeastern border with Myanmar. This tragedy came less than a fortnight after a boat with more than 135 passengers capsized in the same area. “Boat capsized with illegal immigrants from Bangladesh” is a recurring story, with Thailand, Malaysia, and other Southeast Asian countries the destinations of illegal work seekers. What makes Bangladeshis resort to such extreme methods of migration?
Financial Markets…Year-to-date global corporate bond sales rose to $3.43 trillion, already surpassing 2011’s full year total of $3.29 trillion, as further stimulus from global central banks pushed yields to record lows. Funding costs for the riskiest to the most creditworthy corporates are plunging as the persistent low-yield environment spurred unprecedented investor demand.
- United States
- United Kingdom
- Russian Federation
- Latin America & Caribbean
- Europe and Central Asia
- East Asia and Pacific
- Macroeconomics and Economic Growth
- Financial Sector
- Agriculture and Rural Development
- Industrial Production
- fiscal deficit
- consumer price inflation
- Central Bank policy rates
Financial Markets…US treasuries gained and the benchmark 10-year bond yield edged down 1 basis point to 1.66%, after rising as high as 1.7% earlier, while the 30-year bond yield slid by 2 bps to 2.83% in early Friday session after a government report on wholesale price in September showed domestic inflation remained muted.