This week I was invited to speak at The Economist’s Higher Education Forum in New York to share my thoughts on how higher education can be expanded. I believe that we need a fair and sustainable cost-recovery model at the university level using future earnings to finance current education.
Over the past two decades, there has been a tremendous increase in the number of university students and graduates worldwide, which should have led to decrease in the rate of return to investment to higher education – if supply outpaced demand, of course. While there has been some decrease in overall rates of return, investment in education is still a highly profitable investment. Global demand for high levels skills such as working with new information and problem-solving has kept the returns to schooling high in even the poorest countries of the world. In fact, the returns to higher education are higher in lower-income countries – except in the Middle East and North Africa due to rigid labor market regulations.
October 16 is World Food Day, a day when people come together to declare their commitment to eradicate hunger within a lifetime.
Many school-age children across the globe depend on school feeding programs for morning and mid-day meals. School feeding programs incentivize parents to keep children in school and provide students the essential nutrients to stay healthy and able to learn.
El 16 de octubre es el Día Mundial de la Alimentación, un día en que las personas se reúnen para poner de manifiesto su compromiso con el objetivo de erradicar el hambre en el transcurso de una generación.
The World Bank Group’s new Education Strategy 2020 champions learning for all and recognizes that global progress towards this goal will require the commitment of all actors – including governments, communities and private entities. The strategy acknowledges the vital role the private sector can play in helping expand and improve educational opportunity. Private sector participation in education is a growing part of education systems and has helped make significant educational advancements possible in many countries.
How can we leverage the valuable contributions of the private sector to help realize the goal of Learning for All?
In the East Asia and Pacific (EAP) region, the World Bank’s newly-launched Education Strategy 2020 is consistent with our own strategic direction in recent years and presents us with the chance to expand and build upon vital work.
Across the region we have been responding to the needs of a growing cohort of middle-income countries looking to maximize the productivity of their people, the lifeblood for national prosperity and well-being. At the same time, we have seen important progress in first generation reforms in low-income countries, fragile contexts and small states — where we are helping build the capacity of education systems to get all children in school. Across a spectrum of EAP countries we are supporting life-long learning, including early childhood development, basic and secondary education, second-chance education, skills development and vocational training, and science, technology and innovation.
We all love good news. This simple fact of life explains a well known syndrome known as publication bias: studies with positive results are more likely to be published than those with negative results. But the syndrome goes beyond academic publications.
In education as well as in other areas of public policy, the pressure to show results (and to justify budgets) creates strong incentives to report on positive stories over and above those showing a lack of results. It is, indeed, easier and more pleasant to write about what works than about what doesn’t work.
A few months ago we launched a new note series, "Evidence to Policy," (or E2P for short) to present in non-technical language results from impact evaluation studies the World Bank has conducted of human development programs. From the start, I wanted to ensure that E2P remains a vehicle for evidence-based development policy and not a vehicle for intellectual bragging and biased reporting.
In conjunction with the Ibero-American Summit this month, Pamela Cox, Vice President for Latin American and Caribbean, emphasizes the urgent need to focus on education quality in a recent op-ed that appeared in major news outlets across the region:
If education were simply a matter of attending classes, Latin America and the Caribbean would have already done its homework. Most regional countries have made enormous progress towards achieving universal access to basic education. There is also clear progress at the secondary and tertiary levels.
But more than access, the key goal of education is learning. Making sure that children and youngsters perform according to the requirements of the day is a necessary condition for the advancement of society. In that respect, the region still has some unfinished business.
Last weekend, I was fortunate to be at the same dinner party as Jeff Puryear, co-director of PREAL and a luminary in the education field. We got talking about his PhD thesis from 1977, which I later found out, was perhaps the first serious study of the impact of job training in Colombia's SENA industrial training programs in Bogotá.
First, to analyze the socioeconomic characteristics of people who enrolled with SENA relative to those who did not, with a view to identifying the kind of candidates that the programs attracted; second, to estimate the impact of SENA training on the wages of a randomly-chosen individual who had undergone no training before taking part in a SENA program; and third, to calculate the private and social benefits of the SENA program.