Co-authors: Sari Kerr, William Kerr, and Chris Parsons
Highly skilled workers play a starring role in today’s knowledge economy. They make exceptional direct contributions, including breakthrough innovations. As teachers, policy makers, and entrepreneurs they guide the actions of others. They propel the knowledge frontier and spur economic growth. In this process the mobility of skilled workers, within and across national borders, becomes critical to enhancing productivity. Using newly available data, a recent paper by Kerr, Kerr, Özden, and Parsons reviews the landscape of global talent mobility and discusses the causes and consequences of highskilled migration.
Much attention has been paid to understanding the worldwide distribution of human capital and how global migration flows further tilt the deck against poor countries. The migration patterns we see today are the result of a complex tangle of firms and other employers pursuing scarce talent, governments trying to manage these flows through policy, and individuals seeking their best options given the constraints imposed on them. The central outcome, however, is clear: the flows of high-skilled migrants are very concentrated, both within and across national borders.
Research and Publications
Co-authors: Sari Kerr, William Kerr, and Chris Parsons
In an effort to address this issue, the World Bank Group and the United Nations embarked on a three-year partnership that led to the publication of a new report titled Securing Development: Public Finance and the Security Sector. It is a sourcebook providing guidance to governments and development practitioners on how to use a tool called “Public Expenditure Review (PER)” adapted to examine the financing of security and criminal justice institutions.
Dar es Salaam, Tanzania – one of the many cities in Africa that is expected to see sharp population increases – will need rapid job creation to keep pace with its swift population growth. The city’s new bus transit system – completed in 2015, with a $290 million credit from the International Development Association, the World Bank’s fund for the poorest countries – is now reducing transportation costs, easing traffic and promoting private sector development.
Photo: Hendri Lombard / World Bank
Africa’s working-age population is expected to grow by close to 70 percent, or by approximately 450 million people, between 2015 and 2035. Countries that are able to enact policies conducive to job creation are likely to reap significant benefits from this rapid population growth, according to the Africa Competitiveness Report 2017, co-produced by the World Bank Group, the African Development Bank, and the World Economic Forum. The report also warns that countries which fail to implement such policies are likely to suffer demographic vulnerabilities resulting from large numbers of unemployed and underemployed youth.
Energy commodity prices rose 2.7 percent in April as the crude oil average rose 2.5 percent, according to the World Bank’s Pink Sheet.
Non-energy prices declined 2.4 percent as agriculture fell 1.4 percent, food and beverages prices dipped by 2.1 percent and 1 percent, respectively, and raw materials rose 0.3 percent. Fertilizer prices declined 6 percent.
Metals and minerals prices slid 4.3 percent, led by an almost 20 percent tumble in iron ore. Precious metals eased 2.7 percent.
The Pink Sheet is a monthly report that monitors commodity price movements.
Prices for most industrial commodities, notably energy and metals, are projected to rise in 2017 while agricultural prices are expected to remain stable, the World Bank says in its April 2017 Commodity Markets Outlook.
Closely watched crude oil prices are forecast to rise to an average of $55 per barrel (bbl) over 2017 from $43/bbl in 2016, climbing to $60/bbl next year. The forecast is unchanged since October and reflects the balancing effects of production cuts agreed by the Organization of Petroleum Exporting Countries (OPEC) and other producers on one side and a faster-than-expected rebound in the U.S. shale oil industry on the other. World oil demand is growing strongly, although at a slower pace than the 2015 spike triggered by lower oil prices.
Global emissions of carbon dioxide, a major greenhouse gas and driver of climate change, increased from 22.4 billion metric tons in 1990 to 35.8 billion in 2013, a rise of 60 percent. The increase in CO2 emissions and other greenhouse gases has contributed to a rise of about 0.8 degrees Celsius in mean global temperature above pre-industrial times.
In 2015, 663 million people were drinking from unimproved sources such as unprotected dug wells. The bulk of those without were in Sub-Saharan Africa and South Asia, where rural dwellers, especially the poorest, lagged behind others in access to both water and sanitation.
An undernourished person doesn’t have enough foot to meet their daily energy needs. Globally, over 793 million people are currently considered undernourished. While there’s been steady progress over the past 25 years, ending hunger by 2030 will require accelerated efforts to achieve faster declines in undernourishment levels.
Violence against women exists across the globe but laws against gender-based violence do not. In many countries societal norms permit physical and verbal abuse, and in countries studied, when there are fewer legal provisions, women are more likely to tolerate this abuse.