Unsurprisingly, with the recent arrival of a new president fresh from the groves of academia, the halls and meeting rooms of the World Bank are buzzing once again with talk of the “Knowledge Bank” or KB for short. But what exactly is a “knowledge bank”?
To my mind the paper that pins the idea down best is “Positioning the World Bank” by Chris Gilbert, Andrew Powell and David Vines in the Economic Journal in 1999.
Knowledge as a public good
Gilbert & Co argue that knowledge about best-practice development is a global public good – the entire world stands to benefit from it, even though some may benefit from it more than others. Given the public good character of global knowledge on development, too little of it would appear if production were left to the free market.