Employment is a critical issue in the Middle East and North Africa (MENA), and our live web chat on the issue drew participants from all over the region. The dialogue was engaging, with questions and comments coming from as far afield as Egypt, Lebanon and Kaserine, in Tunisia’s interior.
Last week I blogged about a paper that David wrote with Chris Woodruff which takes stock of the existing evidence on the impact of business trainings. The bottom line was that we still don’t know much. Part of the reason is that these types of evaluations are not straightforward to do – they have some pitfalls that you don’t always find in your garden variety impact evaluation. So to
From hedge funds to mortgage-backed securities, unregulated and risky activities have fallen out of favor since the Lehman Brothers debacle. Aggressive, casino-type behaviors and obscure transactions definitely played an important role in the run up to the financial crisis of 2008. But are all financial activities that operate outside the regular banking system bad?
At a fishing enclave called Baie des Anges on Guinea Conakry's Atlantic coast, the country's development challenges are laid bare. In this make-shift settlement shrouded with blue tarpaulins and weighted down with stones and old tires, families battle the constant threat of flooding while they struggle to make a living from fish they smoke on cinder-block stoves. For the poor people of Guinea, better times can't come fast enough.
The statistics are tough to read. Here in Guinea, it rains for six months a year and yet drinking water is hard to find. The country has some of the world’s largest deposits of bauxite and iron ore, and still one in two people lives in grinding poverty. And it’s getting worse. The poverty rate has jumped from 53% of the population in 2007 to more than 55% in 2012. Blessed with some of Africa’s most significant agricultural and hydro-electric potential, few homes outside downtown Conakry have power at night unless they run generators; and food is often in short supply.
I joined the World Bank’s Vice President for Africa, Makhtar Diop, on a recent trip to Guinea where he held development talks with the President, Professor Alpha Condé, the Prime Minister, Mohamed Said Fofana, Cabinet Ministers, and local business leaders. In his discussions Diop was optimistic about the country’s development future and its potential to tackle its energy shortages, boost its agriculture production, and use its rich mining resources to transform the economy and development prospects of some of Africa's poorest people.
What do we really know about how to build business capacity? A nice new paper by David McKenzie and Chris Woodruff takes a look at the evidence on business training programs – one of the more common tools used to build up small and medium enterprises. They do some work to make the papers somewhat comparable and this helps us to add up the totality of the lessons. What’s more, as David and Chris go through the evidence, they come up with a lot of interestin
In December 2010, the Arab Spring began with a call for a change, which ended up becoming a reality in Tunisia, Egypt and Libya. The restoration of justice is now a priority focus in all these countries. In the minds of many citizens, justice means the return of funds looted by officials over decades of high-level government corruption. The tenor of recent news reports shows that throughout the region, the public’s patience for the process is wearing thin.
But the reality is that the asset recovery process is a long and often difficult road, one that must be traveled even long after the euphoria of regime change has dimmed. We know that from our engagements with client countries, and from many headline-making cases. For example, according to StAR’s Asset Recovery Watch, although former Philippine President Ferdinand Marcos was deposed in 1986, the attempts to recover his allegedly stolen wealth continue to the present day. Meanwhile, a new case against Nigerian Dictator Sani Abacha, who died in 1998, was launched in Luxembourg just this year.
India today is the fourth largest economy in the world. But for the country to sustain a growth rate of close to 6%, it remains vulnerable to the vicissitudes of global investors. It’s time to ponder: why it is not the other way round? How can India reach a position where we not only follow the rise and fall of global economic forces but also lead the way in sustaining the global economy? This is my dream.
Improving Ongoing Flagship Programs:
-The monitoring of all flagship projects should be improved right from the Gram Panchayat level to the state and central level.
-Models need to be developed for every flagship program, success factors studied, and implementation aligned with the specific needs of each state.
-All program implementation officers should be trained by those who have worked in successful programs. Pay should be linked with performance.
-Resource reallocation should depend on progress and work load.
-All unsuccessful programs should be analyzed to understand the main causes for failure and alternatives planned.
-Benchmark studies should be conducted to identify critical indicators for development in education, health and infrastructure and year on year progress checked.
World Bank India has just launched its Facebook page! We are extremely excited at the prospects that social media channels like Facebook bring in making our communication with the outside world more dynamic, real time, interactive and conversational in style. It will surely add a new dimension to the way we communicate. The link to the page is http://www.facebook.com/WorldBankIndia and we’d like to hear more from you!
Tomorrow, we're launching an online discussion on what are the prospects for advanced and developing economies of the world in the current global economic situation on the wall of our Facebook page.
Nobel Laureate Andrew Michael Spence, who was also the Chairperson of the Growth Commission will lead this online discussion and Mr N. Roberto Zagha, World Bank Country Director in India, will moderate the discussion.