It is estimated that more than 250 million school children throughout the world cannot read. This is unfortunate because literacy has enormous benefits – both for the individual and society. Higher literacy rates are associated with healthier populations, less crime, greater economic growth, and higher employment rates. For a person, literacy is a foundational skill required to acquire advanced skills. These, in turn, confer higher wages and more employment across labor markets .
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When the Manila Light Rail Transit (LRT) extension project reached financial close in March 2016 it was a landmark event for the Philippines and for Southeast Asia. It is an achievement for an enormous project worth some US$1.1 billion to go ahead in a region with not much of a track record of large-scale transport Public-Private Partnerships (PPPs). The project’s winning formula is a combination of at-times difficult ingredients: government responsiveness, a balanced risk profile, and project bankability.
When I visited Peru for the first time last month for a business development trip, I met with the heads of some leading private education institutions. At the end of my visit, I decided to book a cultural tour of Lima. During the tour, I asked our guide Marcos where he learned English as I found him very articulate, knowledgeable and with a good sense of humor. To my pleasant surprise and astonishment, he told me that he learned it by himself, mainly online. He then started practicing with visiting tourists until he became more comfortable leading tours himself.
Social safety nets – predictable cash grants to poor households often in exchange for children going to school or going for regular health check-ups – have become one of the most effective poverty reduction strategies, helping the poor and vulnerable cope with crises and shocks. Each year, safety net programs in developing countries lift an estimated 69 million people living in absolute poverty and uplifting some 97 million people from the bottom 20 percent – a substantial contribution in the global fight against poverty.
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.
- boost prosperity
- Knowledge and Skills
- job market
- job creation
- Social Development
- Public Sector and Governance
- East Asia and Pacific
- Solomon Islands
- Papua New Guinea
- Micronesia, Federated States of
- Marshall Islands
- Lao People's Democratic Republic
- Korea, Republic of
As we celebrate World Water Day, I find myself thinking about my work and one central question: how do you reach 8 million Filipinos with no access to clean water? I remember growing up in Pampanga, a province north of Manila, and visiting my aunt’s house every weekend where I had to pump water from a deep well and carry buckets so we could water plants, wash clothes, and clean the backyard pig pen. Fortunately, these days there’s always water from the faucet so we don’t work as hard to do chores.
But the story isn’t the same for everyone. While our local water utility largely improved its services over the years, I can’t say the same for the rest of the country, especially in rural areas. While there are already over 4,700 water utilities in the Philippines, about half are very small and unregulated.
What kind of leader can bring people together for the common good, even amid clashing opinions or real conflict?
That question was at the heart of the 2017 Global Leadership Forum March 6 on the growing need for “collaborative leadership” in an age of increasingly polarized societies.
The event at the World Bank was organized with the Global Partnership for Collaborative Leadership in Development. It explored how to bridge often wide divides to arrive at inclusive solutions, and featured guests such as Festus G. Magae, a former President of Botswana and a South Sudan peace negotiator, and Frank Pearl Gonzalez, Chief Negotiator in the Colombian Peace Talks.