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Prospects Weekly: Private capital flows to developing countries eased in October

Global Macroeconomics Team's picture
Private capital flows to developing countries eased in October, but remain close to their highest level in more than a year, led by robust bond issuance by emerging market sovereigns and firms. Business sentiment has strengthened in some countries, including the US and several emerging markets, but remains weak in general amid US “fiscal cliff” and Euro Area risks.

Prospects Daily: Year-to-date global corporate bond sales rose to $3.43 trillion

Global Macroeconomics Team's picture

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.

Russia: a Study in Numbers

Kaspar Richter's picture

Is Russia’s economy just about to shift a gear downwards?

In the decade before the global financial crisis, Russia’s growth averaged 7 percent, thanks to rising oil prices, rapid credit expansion and policy reform. Then, after the economy took a nosedive in 2009, Russia rebounded to growth above 4 percent even though the global economy was sluggish and the euro area soon went back into a recession.

But now, as we begin the final three months of 2012, Russia’s economy is settling onto a lower growth trajectory. In our new Russian Economic Report, we project that Russia will grow only 3.5 percent this year. Excluding the crisis years of 1998 and 2009, this would be the lowest rate in a decade and a half.

Modern Schools for Modern Times

Tigran Shmis's picture

Also available in Spanish and French


Spending a day at a kindergarten can be eye-opening for an adult. I’ll tell you why.

The school in question is what we, in the Russian Federation, call an inclusive school – where children with special needs are part of a regular kindergarten and participate in the same activities and programs as others. It works! This school was started in 2011 and does not distinguish between children with special needs and others. Both groups are part of the same class, sit at the same table, and participate in the same activities. Not many places in the world do this.

The inclusive model, while not unique, is still rare. But other than that distinctive nature, what’s so special about it?

Open Government Will Accelerate in Russia

Jeff Kaplan's picture

Open Government is making real inroads in Russia today.  That was the message delivered at a recent workshop organized in Moscow by the World Bank and the Open Development Technology Alliance.

 

Health information systems in developing countries: Star Wars or reality?

Patricio V. Marquez's picture

(Doctor at the GP office working with prescriptions. Kirov, Russia. Credit: Dmitry Kirillov/World Bank)

In the late 1990s, an international consultant told me that a proposed electronic health information system in the Dominican Republic was “like Star Wars and will not work in this country.”

 

Our objective was to improve service delivery by virtually connecting health providers to share medical records with one another as patients moved from health centers to hospitals. We learned that this was much more than an overnight task, requiring a sustained medium-term effort by the government to get the system fully up and running.

 

In recent years, I’ve seen similar efforts realized in the Russian Federation, Georgia, Azerbaijan and Botswana. In two Russian regions, Chuvash Republic and Voronezh Oblast, for example, electronic records are helping coordinate the flow of clinical and financial information across the health systems as facilities, departments within hospitals, and health insurance agencies have been “virtually” connected through broadband networks. The electronic records are supporting clinical decision-making, facilitating performance measurement and pay-for-performance initiatives, and ultimately the continuity of care as patients move across the health system. Inter- and intra-regional medical consultations and distance learning activities are also being supported by telemedicine networks that connect specialized hospitals with general facilities.

Prospects Weekly: Renewed Euro Area tensions cut into capital flows to developing countries in May and June

Global Macroeconomics Team's picture

Renewed Euro Area tensions cut into capital flows to developing countries in May and June, and prompted a sharp downturn in business sentiment worldwide. Together these developments point to slower growth in 2012Q2 and Q3, unless recent improvements in financial markets and policy steps cause business sentiment to strengthen.

Prospects Daily: Global equities move higher amid the latest EU agreement

Global Macroeconomics Team's picture

Important developments today:

1. Global equities move higher amid the latest EU agreement

2. May industrial production output mixed among major European economies.

Prospects Weekly: Market confidence has been rattled once again

Global Macroeconomics Team's picture

Market confidence has been rattled once again following recent election results in France and Greece. However, credit default swaps rates, while up, remain well below their fall 2011 highs. Through March, retails sales have continued strengthening among both developing and high-income economies, although weakness still persists in the Euro Area.

Prospects Daily: Japanese Yen strengthens as the country’s current account turns to surplus again

Global Macroeconomics Team's picture

Important developments today:

1. Japanese Yen strengthens as the country’s current account turns to surplus again

2. Japan’s current account returns to surplus in February


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