As the 2012 Annual Meetings opened Thursday, World Bank Group President Jim Yong Kim held a press briefing and fielded questions on a range of topics including the role of emerging economies, food prices, climate change, and more.
A woman works in a small shop in Ghana.
Photo by Arne Hoel
What will it take for the world to wake up and realize the advantages of supporting women entrepreneurs in the developing world?
If that sounds like an odd question to be asking in the 21st century, just consider some facts. We know that globally women make up almost half the world’s workforce. And we know that in developing economies, 30-40% of entrepreneurs running small or medium sized businesses are women.
But here’s something you may not know – at least 9 out of 10 women-owned businesses have no access to loans. So, just imagine the frustration of a woman in a developing country, who has started a small business, is attracting a good clientele, has a business plan to grow her business, but can’t get a loan to expand. That's not an isolated story. It’s a frustration shared by many women in the developing world. And the frustration of those women sounds echoingly similar to the frustration still lingering in the voices of older women from rich countries, telling how some three decades ago they were refused bank home loans, despite having a guaranteed income.
The first week as World Bank Chief Economist has left me excited, on the trot, (not to mention, slightly exhausted) and more convinced than ever that John Maynard Keynes was right when he wrote in the General Theory that the course of history, for good or for bad, is determined more by ideas and opinions than vested interests. I assert this with some confidence because of my somewhat unusual career experience, beginning with academic research, writing and teaching to being thrown into the deep end of the policymaking pool, when, in 2009, I was appointed India’s 14th Chief Economic Adviser and the first with no taint of prior experience in government.
I feel privileged to have this new challenging job and hope to engage with readers of this blog as I become more conversant with the Bank's work and also with writing a blog, which I have never done before, my social interaction on the web thus far being restricted to the 140-character tweet.
During the course of many G20 and other high level meetings with policymakers when I was still wearing my India hat, I was struck time and again by the fact that having a critical mass of people who are well-intentioned and susceptible to good ideas can do so much to break the toughest of impasses, whether in trying to decide on monetary and fiscal policies or in targeting welfare benefits or in battling poverty.
These are some of the views and reports relevant to our readers that caught our attention this week.
“TechCrunch just got its hands on the new Aakash UbiSlate 7Ci, the super-cheap tablet that will attempt to connect every student in India to the Internet. Educators have long hoped that cheap computing devices could bridge the global information divide, but previous attempts have been dogged by disappointing performance, lack of Internet access, and financial barriers. The latest version of India’s $35 tablet comes equipped with WiFi and has an optional upgrade ($64) of a cellular Internet package of $2/month for 2 GB of data (roughly 25 emails, 25 websites, 2 minutes of streaming video, and 15 minutes of voice chat a day). More importantly, it is expected to launch this month in India with the government’s commitment to connect even the most remote areas to the Internet. The impact of a successful rollout is difficult to overestimate: rural schools that have been connected to the Internet show immediate and tremendous gains.” READ MORE
|More information on the World Bank-AusAID partnership in worldbank.org/unlockingpotentialreport|
Making a difference for people, he
When my team and I started working on the World Development Report 2013, slightly more than a year ago, we were puzzled. We had been asked to write about jobs, and there was no doubt that they were a major concern around the world. Events such as the global crisis or the Arab spring had put jobs center stage. In developing countries, finding employment opportunities for massive numbers of youth entering the labor force was urgent. Middle-income countries were struggling to move up the value-added ladder in production and to extend the coverage of social protection. Technology and globalization were changing the nature of work worldwide. In all cases, jobs were at stake. And they were clearly one of the main preoccupations of policy makers everywhere.
Do longer classroom hours equal good grades? Spending more time in school is a subject currently being discussed as one solution to improving students' academic performance with the ultimate goal of making countries more competitive in the global economy.
This is true for emerging and advanced economies alike.
Is the world ready for the advice that governments can better balance the need for credit and emergency support for banks with measures to promote transparency and competition when crises erupt? Governments want every viable tool possible in their arsenal to fight crises, but a bit of 'less is more' and a cautionary re-examination of the role of the state in finance may be in order. This is the thrust of the new Global Financial Development Report (GFDR) 2013: Rethinking the Role of the State in Finance, released Thursday September 13, just ahead of the fourth anniversary of the collapse of Lehman Brothers, which marked the full onset of the financial crisis. The GFDR analyzes four characteristics of banks in over 200 economies since the 1960s and comes with a useful treasure trove of online data.
Check out the GFDR website here.
Sirikarn, a Thai university student, opted for a bachelor's degree taught in English. English language skills open more job opportunities and make further education abroad possible. Photo: Gerhard Jörén / World Bank
Welcome to the new blog for Youthink! -- where youth from around the world can share ideas and stories on global development.
As you can see, we’ve made some changes from the previous Youthink! site. With our new blog home, we hope to increase engagement with you and make it easier than ever to share ideas and learn about development.
As we drive along the semi-paved roads leading out of Juba, I wonder somewhat despondently how this one-year-old country that has been so deeply affected by conflict can prosper and grow with a literacy rate of just 27 percent. When we reach our destination—a tiny school that caters to poor children who are orphaned or with no family support, we are greeted by a loud welcome song. Children chant in a colorfully decorated hut led by a swaying young teacher whose baby sleeps peacefully on her back.
The vibe in the hut energizes me, and I begin to realize what the resilience of this nation is all about. Some of the facts in a new report on education in South Sudan start to come alive to me. This country has come a long way within a short period of time, but still has a very long way to go to catch up with the rest of Africa. Some of the children in this hut are among the 700,000 more students who were able to enroll in school between 2005 and 2009.