Simply stated, we never have enough data. This is true from smallest low income countries in Africa to the largest more complex economy in the West. And the need grows continuously as interconnected world markets and leapfrogging technologies smash through any remaining notions of a standard path to prosperity. For many countries in the developing world, the unfortunate paradox is that they have the greatest needs but the fewest resources, both financial and in terms of capacity. In this setting, researchers in statistics and economics have been developing new techniques to expand the usefulness of limited data. The broad body of work is collected under the umbrella “survey-to-survey imputation” and includes two recently-published papers in the World Bank Policy Research Working Paper series, “Updating Poverty Estimates at Frequent Intervals in the Absence of Consumption Data: Methods and Illustration with Reference to a Middle-Income Country,” by Hai-Anh Dang, Peter Lanjouw, and Umar Serajuddin, and “Estimating Poverty in the Absence of Consumption Data: The Case of Liberia,” by Andrew Dabalen, Errol Graham, Kristen Himelein, and Rose Mungai. (Fortunately the authors are much more creative in their approach to analysis than in their approach to naming papers.)
What makes smart politicians? Jeffrey Frankel has an idea. His recent blog examines the allure, and trap, of universal subsidies. For one thing, they know that pulling the plug on bad policies should be done sooner rather than later. The same can be said of other policies related to investment and labor legislation. Economic democracy is a great thing. However, beware of misguided routes to achieving it.
- Egypt, Arab Republic of
- Iran, Islamic Republic of
- Saudi Arabia
- Syrian Arab Republic
- United Arab Emirates
- West Bank and Gaza
- Yemen, Republic of
- Middle East and North Africa
- Global Economy
- Labor and Social Protection
- Public Sector and Governance
Since gaining independence in 1971, food security issues in Bangladesh have been amongst the highest priorities on the government’s agenda. This is because Bangladesh faces a number of demographic, social and ecological challenges, which make it particularly vulnerable to food insecurity. These challenges are further exacerbated by climate change, including the consequences of sea level rise. Silent threats such as soil and river salinity and arsenic contamination have direct and indirect effects on agricultural production and households’ access to food.
In order to target the continuing food security threats the Government of Bangladesh has developed a number of high level policy initiatives, including Vision 2021 and the related Perspective Plan. Achieving food security is also a key objective of the country’s poverty reduction strategy and has been recognised to be the highest risk in the Bangladesh Climate Change Action Plan. Strategic objectives include realizing universal food security, which implies that the country needs to be not only self-sufficient in terms of food production but also manage equitable distribution of nutritious food. Ensuring universal food security is particularly challenging given the multidimensional nature of the food security concept which comprises food availability, physical and financial access to food, food utilisation and food stability.
Obtaining consistent estimates on poverty over time as well as monitoring poverty trends on a timely basis is a priority concern for policy makers. However, these objectives are not readily achieved in practice when household consumption data are neither frequently collected, nor constructed using consistent and transparent criteria.
For nearly three-fifths of the world population, the lack of access to energy is a major challenge to economic development and poverty reduction.
Increasing cross-border trade in electricity can play a major role in helping overcome these challenges. Trade in electricity can help bring down energy prices, mitigate against power shocks, relieve shortages, facilitate decarbonization and provide incentives for market extension and integration.
Yet, countries have been reluctant to trade electricity across borders. Global exports of electricity are currently around 3 percent of total production. This is an anomaly in the energy sector. Think of oil. Roughly 64 percent of all oil produced is traded between countries.
A recent working paper published by the World Bank looks at the institutional arrangements of regional power pools in both developing regions and those in developed countries. In understanding how the regional integration of electricity markets has developed, the paper is able to draw useful lessons for the promotion of future trade arrangements.
On Oct. 9, the first TEDxWBG will take place in Washington, D.C. A special group of thinkers, artists, and doers will come together and look at the theme of ending poverty from multiple perspectives.
It is heartening that, as we approach 2015 and the end of the Millennium Development Goals, there seems to be strong political will for continued progress, along with interesting data that suggest ending poverty may be possible in our lifetime. While the statistics show a dramatic drop in poverty over the last 30 years, serious challenges remain.
How can economic growth benefit more people? What will it take to double the share of renewables in the global energy mix? Will the world have enough food for everyone by 2050? You can hear what experts have to say on these topics and others, ask questions, and weigh in at more than 20 webcast events from Oct. 7 to 11. That's when thousands of development leaders gather in Washington for the World Bank-International Monetary Fund Annual Meetings. Several events will be live-blogged or live-tweeted in multiple languages. You can also follow the conversation on Twitter with #wblive and other hashtags connected to events. We’ve compiled a sampling of events and hashtags below. Check out the full schedule or download the Annual Meetings app for Apple devices and Android smartphones.
In the context of development, globalization has always had two facets. For the advocates of globalization, it has facilitated financial and economic integration around the world and has played a substantial role in reducing poverty in many developing countries. For those who oppose it, it has introduced new challenges such as economic structural changes, huge income inequality and development disparities across and within developing countries. The changing development landscape with globalization calls for the necessity of reconsidering effective development aid strategies.