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​The Story of the 2015 World Development Report: Mind, Society, and Behavior

Varun Gauri's picture

English settlers to the New World believed that the climate of Newfoundland would be moderate, New England would be warm, and Virginia would be like southern Spain. These beliefs were based on the seemingly common sense view that climate is much the same at any given latitude around the globe.
 
What is striking is that these views persisted despite mounting evidence to the contrary. As late as 1620, after 13 years in the settlement, residents in Jamestown, Virginia, were still trying to import olive trees and other tropical plants, perhaps inspired by Father Andrew White, who had assured them that it was “probable that the soil will prove to be adapted to all the fruits of Italy, figs, pomegranates, oranges, olives, etc.” Eventually, the English settlers did adjust their mental models about North American climate. The accumulation of scientific data, combined with personal experience, was undeniable. But the adjustment was slow and costly, in terms of both money and lives lost.

How does risk affect your life? – Join us for a Live Chat on the World Development Report 2014

Norman Loayza's picture

Adverse events coming from systemic or idiosyncratic risks may destroy lives, assets, trust, and social stability. While risks in some areas have diminished in recent years (notably health, and economic crises in developing countries), risk has become more pronounced in other areas, including natural hazards, crime, the environment, and food prices. Especially when risk is mismanaged, the consequences can be severe, turning into crises with often unpredictable consequences.

We need to move from arbitrary crisis response to systematic risk management: A perspective from WDR 2014

Norman Loayza's picture

An old proverb cautions that “an ounce of prevention is worth a pound of cure.” There is a lot of truth to this: interventions to prevent infectious disease and infant malnutrition have repeatedly been estimated to have very high returns, with benefit-cost ratios as high as 15 to 1.

The proverb also applies outside health. Time and again, failure to prevent and prepare has tragic and costly consequences—economic and financial crises, natural disasters, ruinous health outcomes, social unrest—that often could have been avoided at moderate cost. In 2010, an earthquake in Haiti cost more than 220,000 lives, while one of much larger magnitude in Chile produced about 500 fatalities. Chile’s enforcement of building codes appears to account for much of the difference.

It’s Jobs, Stupid!

Otaviano Canuto's picture

The World Bank has been tracking the world's progress against poverty since the late eighties, but the release of 2008 data was the first time in which all regions of the developing world showed a decline in the number of people living below poverty lines!

Jobs, plateaus, dividends, skills and data (cross-posted)

Kaushik Basu's picture

Using a silkscreen to dye Fabric _8825, hkoons, 2011

Jobs have been at the center of my life since I took up my own new job as World Bank Chief Economist on October 1. This began within hours of my joining the Bank, when I participated in the press launch of the World Development Report 2013 on Jobs. I have a longstanding interest in labor-related issues, the role of labor laws, and on the impact of privatization on jobs. So I was pleased by the clairvoyance of the World Bank in choosing jobs as the topic for the 2013 World Development Report, much before the Bank knew that it would choose me to be the Chief Economist.

Jobs, plateaus, dividends, skills and data

Kaushik Basu's picture

Jobs have been at the center of my life since I took up my own new job as World Bank Chief Economist on October 1. This began within hours of my joining the Bank, when I participated in the press launch of the World Development Report 2013 on Jobs. Following that, my interactions at the Tokyo Annual Meetings of the World Bank and IMF also brought the jobs issue into high relief, with ministers and policymakers from around the world reacting to the WDR, especially in some of my corridor conversations with them.
 
I have a longstanding interest in labor-related issues, the role of labor laws, and on the impact of privatization on jobs. So I was pleased by the clairvoyance of the World Bank in choosing jobs as the topic for the 2013 World Development Report, much before the Bank knew that it would choose me to be the Chief Economist.

Jobs Center Stage: The WDR 2013

Martin Rama's picture

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.

Tracking withdrawals from the ‘Knowledge Bank’

Adam Wagstaff's picture

As I reported in my last post, Jim Kim’s arrival as World Bank President has reinvigorated the debate about the idea of the World Bank being a ‘knowledge bank’. In the post, I argued that the knowledge produced by the Bank – whether gleaned from its lending operations, or from its research and other analytic work – is a global public good, and that we should therefore assess the success of the institution in its knowledge work not in terms of how specific ‘client’ governments value the outputs of its knowledge work but rather in terms of how people around the world use and value them.


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