Syndicate content

Human Capital

Get creative: Join the World Bank Group and Financial Times’ blog writing competition for high school students

Arathi Sundaravadanan's picture
© World Bank
© World Bank

Do you often wonder what kind of job you will have when you grow up? Do you think your school is preparing you for the work you may do in the future? What will classrooms and teachers of the future be like? Do you think there are better ways to learn? Do you have inspired and imaginative ideas to re-invent education? Are you between the ages of 16 and 19 and currently enrolled in high school or a secondary education institution?

If this sounds like you, then enter our blog writing contest! The World Bank Group and the Financial Times are hosting a competition for our future leaders. We want young people with brilliant ideas and solutions, who will be most affected by the changing nature of jobs and skills to share their perspective on what could help better prepare them for the future.

Why are we running this competition? Technology is rapidly changing the world we live in and bringing us many opportunities, but we also need to adapt to these changes. The jobs of the future will be different from the ones today and we will need to learn new things and develop new skills to excel at them. This builds on the recently launched Human Capital Project as well as the World Bank’s World Development Reports on The Changing Nature of Work and LEARNING to Realize Education’s Promise.

I believe Belarus will benefit greatly from the Human Capital Index – Here’s why

Alex Kremer's picture


On 11 October 2018, the World Bank launched its Human Capital Index, which quantifies the contribution of health and education to the productivity of the next generation of workers. The Index is part of the Human Capital Project, a global effort to accelerate more and better investments in people. Belarus didn’t participate in the Index this year.

Back in 1440, King Henry VI of England founded a college for poor scholars, providing a free education for boys whose families couldn’t afford to pay. At that time, the young students learned to read and write so that they could later work as administrators in the royal court.

A few centuries later, in 1977, I became one of “King Henry’s scholars”. I’m not working for a king, of course, but I recognize how lucky I am to have benefited from Henry’s medieval investment in human capital. One could perhaps call him a “very early adopter”.

These days, investing in people makes more economic sense than ever. Human capital – the knowledge, skills, and health that people accumulate throughout their lives – accounts for up to 68% of a country’s overall wealth, on average. In the case of Belarus, where I now live, the share of human capital in the country’s total wealth is somewhat lower, at 49.2%.

400 youth from 117 countries to present innovative ideas on how to invest in people

Alejandra de Lecea's picture
Workshop participants discuss their innovative ideas at the 2017 World Bank Group Youth Summit. © World Bank
Workshop participants discuss their innovative ideas at the 2017 World Bank Group Youth Summit. © World Bank

Without investing in their people, countries cannot sustain economic growth, they will not have a skilled workforce ready for the jobs of tomorrow and they will not be able to participate effectively in the global economy.

That is why the World Bank Group is joining forces to increase investments in human capital - in the knowledge, skills and health that people accumulate throughout their lives.

Youth from all corners of the world will congregate in Washington DC for next week’s 2018 World Bank Group Youth Summit. This year’s Summit is designed to inspire fresh thinking on how to close the human capital gap.

During the two-day event, 400 students and young professionals from 117 countries will present innovative ideas to contribute to shrinking the human capital gap and foster the skills and well-being of individuals and will participate in sessions and workshops with experts from the World Bank Group, IBM, Intel, the United Nations and Stanford, among many others.

Leveraging technology to close gaps between men and women

Mirai Maruo's picture


Technology serves as a key driver of change and opens new avenues to address the world’s most complex challenges. It is changing the nature of work and challenging traditional production patterns. And it is changing the skills that employers seek, how people work and the terms on which they work.
 
This month, the World Bank Group Advisory Council on Gender and Development will meet for its twice-yearly meeting to discuss the World Bank Group (WBG)’s recent developments and initiatives to close key gaps between men and women. Chaired by Kristalina Georgieva and comprising senior government representatives from client and donor countries, private sector and civil society, the Council is the main external consultative body helping the WBG consider frontier issues and accelerate progress towards gender equality.
 
Earlier this year, the Council undertook a learning session on the role of technology in promoting gender equality. The discussion mapped out some key challenges in this area.

To build human capital, we need more and better-targeted investments in health – The GFF provides an innovative path

Jim Yong Kim's picture
 
© Dominic Chavez/Global Financing Facility
© Dominic Chavez/Global Financing Facility

​When countries invest in people—particularly young people—they're investing in the future and giving the next generation an opportunity to achieve their dreams. 

 But every year, in countries across the world, too many dreams are cut short: more than 5 million mothers and children die from preventable causes. Globally, nearly a quarter of children under 5 are malnourished and 260 million are not in school.

In this age of rapidly advancing technology, where there is a growing demand for complex cognitive skills and problem-solving, this crisis should be a wake-up call. 

With half of the world’s population still lacking access to basic health services, we urgently need more and better financing for health, especially in developing countries where health and nutrition needs are greatest.  

The green growth crossroads: changing course to fight climate change in Lao PDR

Stephen Danyo's picture

Small, landlocked, and resource-rich Lao PDR has been quietly maintaining its place as one of East Asia and Pacific’s fastest growing economies for nearly 20 years. Since 2000, the average economic growth rate of the country has been nearly 8 percent. This growth has propelled Lao PDR through many positive milestones, including meeting the criteria of Least Developed Country graduation for the first time this year. Meanwhile, poverty declined from 34 percent in 2003, to 23 percent according to most recent data, and incomes for many have risen.

Growth in Central Asia hinges on creating more jobs with higher wages

Lilia Burunciuc's picture


Jobs and wage growth have been the most important driver of poverty reduction globally, and Central Asia. In Tajikistan, for example, it has cut poverty by about two-thirds since 2003. In Kazakhstan, it accounted for more than three-quarters of income growth over the past decade — even among the poorest 20 percent. The other Central Asian nations have also achieved significant economic growth and poverty reduction in the past two decades due to income growth.

But poverty-reduction rates have slowed. In Kyrgyzstan, they began slowing during the global recession of 2008, as income growth faltered. Poverty reduction in Tajikistan leveled off in 2015, when wage growth slackened and remittances from Tajiks working overseas fell.

In Uzbekistan, more than 90 percent of the poorest households have identified lack of jobs as their most urgent priority. For these families, the prospect of increasing their income is slim, while the likelihood of transmitting poverty to their children is high.

So what should countries in Central Asian do to build on their past achievements and prepare their citizens for the jobs of the future?

In Africa, technology and human capital go hand in hand

Sheila Jagannathan's picture
Photo: eLearning Africa
Rwanda’s progress from the devastating civil war two decades ago to one of the most rapidly developing African countries is a remarkable narrative on development.

Twenty-four years ago, the country was torn apart by civil war and one of the worst genocides human history has known; one in which more than a million people were killed in only three months.

Now, with years of sustained economic growth—predicted to be around 6.5% this year, the country is well on the way to achieving many of the ambitious development goals set out in the Rwandan Government’s ‘Vision 2020.’ This strategy seeks to move away from agriculture and rely instead on services and knowledge as the new engines of economic growth, with the objective of achieving middle-income status in the near term.

I had the privilege of getting a snapshot view of Rwanda’s success during the few days I spent in the country last month attending elearning Africa 2018, the continent’s largest conference on technology-assisted learning and training. The choice of Kigali as the location for this year’s conference is highly symbolic: Rwanda has put education and skills at the heart of its national strategy, and can send a powerful message to other African countries about the importance of investing in human capital to support overall development.

Accelerating progress towards human capital and financial inclusion

Jim Yong Kim's picture
© World Bank
© World Bank

Last week, more than 11,000 delegates from the World Bank Group’s member countries –public and private sector attendees--gathered at our Annual Meetings in Indonesia this month to discuss how we can accelerate progress toward our twin goals: to end extreme poverty by 2030 and boost shared prosperity among the poorest 40 percent around the world.  

Disruptive technologies create opportunities for development but they also put those goals at risk. Our discussion this past week focused on the changing the nature of work – the topic of our World Development Report this year. While technology and automation are doing away with some jobs, innovation is also creating new occupations, and launching career fields that didn’t exist a few years ago. Those who are prepared for this future will have many opportunities to achieve their aspirations. Those who are not will be left behind. 

How to create a system for fair and transparent taxation in the digital age

Ravi Kumar's picture



Enhancing the taxation system in a fair, transparent, and efficient way in the new digital world is essential for countries looking to invest in their human capital, said Karishma Vaswani, Correspondent for BBC Asia Business and moderator of the dynamic event ‘Fair and Transparent Taxation in the Digital Age’ in Bali, Indonesia. Leaders from government, private sector, civil society, and academia gathered to explore the implications of technology on countries’ efforts to mobilize domestic resources to fund the Sustainable Development Goals.


Pages