Do migrants respond to differences in access to public goods and services in addition to income prospects of potential destinations? This issue is important in developing countries where provision of basic public goods affects not only income prospects but also quality of life. And in these countries, provision of public goods tends to vary widely across areas. In a Tiebout (1956) sorting model, such disparity in the provision of public goods such as roads, electricity, schools, hospitals, etc. should induce people to "vote with their feet" and to migrate to areas with better access to these infrastructures and services.
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.)
World Bank Group President Jim Kim will be interviewed by journalist Yang Lan in “Building Shared Prosperity in an Unequal World” event on Oct 8, 2014, from 10:00 a.m. to 11:00 a.m. in the Preston Auditorium at World Bank headquarters. Watch the live webcast here.
Kaushik Basu, Shereen Allam, Claudia Costin, Denny Kalyalya and other experts will discuss investing in human capital, social safety nets, and making growth greener as key elements needed for success on Oct 8, 2014, at 3:30 PM EST. Watch the live webcast here.
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.
Conventional wisdom holds that Sub-Saharan African farmers use few modern inputs despite the fact that most growth-inducing and poverty-reducing agricultural growth in the region is expected to come largely from expanded use of inputs that embody improved technologies, particularly improved seed, fertilizers and other agro-chemicals, machinery, and irrigation. Yet following several years of high food prices, concerted policy efforts to intensify fertilizer and hybrid seed use, and increased public and private investment in agriculture, how low is modern input use in Africa really?
What determines the evolution of the size of countries? Does size matter for economic success? Given the trend toward decentralization and the existence of supernational unions such as the EU, is the meaning of national borders evolving? Alberto Alesina of Harvard tackles these questions in his Joseph Schumpeter lecture, 'The Size of Countries: Does it Matter?"
As the big climate events were under way in New York over the past 10 days, 'Live Mint' talked with Prakash Javadekar, India's Environment Minister regarding the country's intent to act on climate change on its own volition, but not at somebody's dictation.
The world economy faces huge infrastructure financing needs that are not being matched on the supply side. Emerging market economies, in particular, have had to deal with international long-term private debt financing options that are less supportive of infrastructure finance.
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.
At a time when students, parents and governments are looking more closely at the value of schooling, it is important to keep in mind that in addition to being a basic human service, education produces some strong economic benefits. One of the most commonly cited benefits are the earnings associated with schooling. These have been called the returns to investment in schooling.
While estimates of the economic rate of return to schooling have been provided by economists for more than 60 years, it is only recently that we have had such estimates for the vast majority of nations in the world. In a recent research, “Comparable Estimates of Returns to Schooling around the World,” we report the latest estimates of the private – what the individual student earns – returns to schooling using comparable data from 140 economies around the world and more than 800 household surveys.
Do Poverty Traps Exist? is the question asked by Aart Kraay and David McKenzie in an article in the Journal of Economic Perspectives.
An articulate, humble piece by IMF Chief Economist Olivier Blanchard on key lessons from the 2009 financial crisis, the main one being that much more attention needs to be paid to what he calls ‘dark corners’
A new study by an international team of researchers finds that the world's population will hit 11bn in 2100.