When the world united around the historic Paris climate agreement, in 2015, the message was clear: It’s unfair to pass the burden of climate change to future generations.
We now need to put words into action. This week, leaders from 20 of the largest economies are meeting in Hamburg to find solutions to global challenges. Climate change will be front and center.
As the co-chairs of the Carbon Pricing Leadership Coalition (CPLC), we want to accelerate climate action and reaffirm our commitment to carbon pricing. The discussions in Germany are a great opportunity to keep the momentum going.
Launched during the Paris climate talks, the CPLC now consists of 30 governments and over 140 businesses, all fighting for a common cause: to advocate for the pricing of carbon emissions across the world. We are calling for bold leadership from everyone – governments, companies, academia and civil society. The CPLC provides a forum for these groups to show collaborative leadership on carbon pricing.
While some may think the Sri Lanka’s cricket team did well in the recent Champion's Trophy, myself included, vigorous debates have been going on, on TV and social media and even here in our office which clearly suggests that not everyone agrees on their performance. Despite these differences in perspective, I witnessed the excitement of many of my colleagues and friends from different parts of the world as they cheered, supported opposing teams, analyzed the games, and mulled the behind the scenes politics that affect the game, and also passed judgements on winners and losers. The key point here is that for Sri Lanka to be in the top 8 internationally they had to play other countries. This analogy fits well with how economies grow and are recognized; so hold on to this thought.
Reading through the many articles in the news, be they paper, internet or just exchanges between citizens on social media, one thing is clear, there is no one unified view on how Sri Lanka is growing. While developed countries would salivate at a growth rate of 4.4 percent, in Sri Lanka it is considered below potential. Some even question if it’s growing! The result is a confusing landscape on an important issue that touches everyone in some way.
Twice a year the World Bank adds data and analyses to the many out there. We try to answer questions such as: what is Sri Lanka’s actual growth? Which parts of the economy have grown and which have not? If the country is to accelerate growth, what needs to be done? What can its people do to help? We know from cricket that the players can be excellent but if no-one cheers for them, they lose interest and cannot be successful. Eventually the game loses its luster and the competitive edge of the country’s ranking also slips. Both sides need to understand what needs to be achieved, how, by whom and when the team doesn’t quite deliver in a match, what part of the game should they change. This is what has made Sri Lanka a cricket powerhouse.
The Philippines is at a fork in the road. Despite good results on the growth front, trends observed in trade competitiveness, Global Value Chain (GVC) integration and product space evolution, send worrisome signals. The country has solid fundamentals and remarkable human assets to leapfrog into the 4th Industrial Revolution – where the distinction between goods and services have become obsolete. Yet it does not get the most out of this growth, especially with regards to long-term development prospects. In order to do so, the government will have to make the right policy choices.
In low- and middle-income countries, household surveys are often the primary source of socio-economic data used by decision makers to make informed decisions and monitor national development plans and the SDGs. However, household surveys continue to suffer from low quality and limited cross-country comparability, and many countries lack the necessary resources and know-how to develop and maintain sustainable household survey systems.
The World Bank’s Center for Development Data (C4D2) in Rome and the Bank of Italy— with financial support by the Italian Agency for Development Cooperation and commitments from other Italian and African institutions—have launched a new initiative to address these issues.
The Partnership for Capacity Development in Household Surveys for Welfare Analysis aims to improve the quality and sustainability of national surveys by strengthening capacity in regional training centers in the collection, analysis, and use of household surveys and other microdata, as well as in the integration of household surveys with other data sources.
On Monday, nine partners signed an MoU describing the intent of the Partnership, at the Bank of Italy in Rome. The signatories included Haishan Fu (Director, Development Data Group, World Bank), Valeria Sannucci (Deputy Governor, Bank of Italy), Pietro Sebastiani (Director General for Cooperation and Development, Ministry of Foreign Affairs and International Cooperation of the Italian Republic), Laura Frigenti (Director, Italian Agency for Development Cooperation), Giorgio Alleva (President, Italian National Institute of Statistics), Stefano Vella (Research Manager, Italian National Institute of Health), Oliver Chinganya (Director, African Centre for Statistics of the UN Economic Commission for Africa), Frank Mkumbo (Rector, Eastern Africa Statistical Training Center), and Hugues Kouadio (Director, École Nationale Supérieure de Statistique et d’Économie Appliquée).
The Partnership will offer a biannual Training Week on household surveys and thematic workshops on specialized topics to be held in Italy in training facilities made available by the Bank of Italy, as well as regular short courses and seminars held at regional statistical training facilities to maximize outreach and impact. The first of a series of Training-of-Trainers (ToT) courses will be held in Fall 2017.
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On World Refugee Day, we pay tribute to faces of resilience – mothers, fathers, husbands, wives, and children, who fled horrific circumstances as refugees, but who continue to strive every day to rebuild their lives with dignity.
As the number of people displaced by conflict climbs to historic highs, it’s easy to lose sight of the faces behind the statistics. But recently, there’s been a sea change in how the world is managing this crisis – by putting people first, and making it possible for refugees to work or go to school and become self-reliant as an integral part of their host country’s development story.
Emerging economies are routinely affected by monetary policy announcements in the US. This was starkly evident on May 22, 2013, when Federal Reserve Chairman Ben Bernanke first spoke of the possibility of the Fed tapering its security purchases. This “tapering talk” had a sharp negative impact on financial conditions in emerging markets in ensuing days—their exchange rates depreciated, bond spreads increased, and equity prices fell; so much so that some of the countries seemed on the verge of a full-fledged balance of payments crisis. The event helps explain why issues related to the spillover of US monetary policy have gained prominence in recent contributions to the literature and in policy discussions (Rajan, 2015).
Indeed, motorization – the process of adopting and using motor vehicles as a core part of economic and daily life – is closely linked with other dimensions of development such as urbanization and industrialization.
Motorization, however, is a double-edged sword.
For many households, being able to afford their own vehicle is often perceived as the key to accessing more jobs, more services, more opportunities—not to mention a status symbol. Likewise, vehicles can unlock possibilities for firms and individual entrepreneurs such as the young man from Uganda pictured on the right, proudly showing off his brand new boda boda (motorcycle taxi).
But motorization also comes with a serious downside, in terms of challenges that many governments have difficulty managing. Motor vehicles can undermine the livability of cities by cluttering up roads and open spaces—the scene of chaos and gridlock in the picture below, from Accra, is a telling example. In addition, vehicles create significant safety hazards for occupants and bystanders alike… in many developing countries, road deaths have effectively reached epidemic proportions. From an environmental standpoint, motorized transport is, of course, a major contributor to urban air pollution and greenhouse gas emissions. Lastly, motorization contributes to countries' hard currency challenges by exacerbating their long-term demand for petroleum products.
Given these challenges, how are developing countries going to align their motorization trajectories with their development goals? What should the World Bank advise our clients about how to manage this process?
- Fossil Fuels
- fuel efficiency
- Energy Efficiency
- vehicle safety
- greenhouse gas emissions
- Air pollution
- road injuries
- road fatalities
- road deaths
- road safety
- livable cities
- Traffic Congestion
- traffic management
- urban transport
- mass motorization
- sustainable mobility
- Sustainable Communities
- Law and Regulation
- Global Economy
- Climate Change
- Urban Development
In Brazil, where I come from, we are crazy about football, so I grew up listening to football matches. At the end of a match, the reporters would interview the main scorer of the day, who would often say that he was just lucky to receive the ball at the right place.
The commentator would then say that “good luck is a combination of ability and opportunity”. This story comes to mind when thinking of India’s economy over the past two years.
India has been lucky indeed. In the fiscal year ending March 2016 (FY16), the sharp decline in oil prices generated what economists call a positive “terms-of-trade” shock, which lifted growth.
A terms-of-trade shock means that the things you buy suddenly become cheaper relative to the things you sell, allowing you to buy more things.
In the fiscal year that just ended, CSO data that was released recently shows that the good monsoons helped agriculture propel growth. Notwithstanding disruption from demonetization, agricultural wages have continued to grow, along with their purchasing power as rural inflation declined.
But India has also implemented good policies, which allowed it to take advantage of the external shocks. The government took advantage of declining oil prices to eliminate fuel subsidies and hike taxes on carbon-emitting petroleum products, a win for the environment and a win for the exchequer.