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Macroeconomics and Economic Growth

Yes, Prime Minister. It's About Learning!

Robin Horn's picture

Heads of State wave during the 2010 G-20 in TorontoLast week in Jomtien, Thailand, Ministers of Education and senior education officials from 34 countries, joined by supporters from dozens of international agencies and civil society organizations, reaffirmed their commitment to achieving Education for All by 2015.  This high level group was also commemorating the original launch of Education for All twenty years earlier, also in Jomtien.   But education leaders committing themselves to education is preaching to the choir. 

In my last post, 'Rockstars for Reading,' I argued that some of the most successful economies in the world are those that have invested most wisely in the education of their people.  So what are the education investment secrets of the most successful countries?  To put it another way, imagine if a finance minister from one of the most successful economies – such as Korea, Singapore, Brazil, or Mauritius -- were to assume the same post in another country.  What might he or she tell the head of state to encourage more and smarter investment in education?

Investing in Early Childhood - What can be done?

Emiliana Vegas's picture

So much has been written recently about the individual, economic and social benefits of investing in early childhood development (ECD), that it is becoming a challenge to summarize these studies. However, ECD is an area that I’m increasingly involved in with my work at The World Bank. Among others, Nobel Laureate Economist, James Heckman and his colleagues have provided very convincing evidence of the benefits of early childhood interventions, including preschool education, on later individual and social outcomes (my colleague and fellow blogger, Jishnu Das looked at Heckman's work in his last blog post "Are Non-Cognitive Gains in Education More Important than Test-Scores?"). These benefits are substantial and varied, ranging from improved education outcomes for the individual, access to better jobs, higher wages, and even lower risks of engaging in criminal activities – which, of course benefits society as a whole.  Moreover, investing early is a better investment than waiting until the child is older, because the costs of achieving comparable benefits through interventions later in life – remedial education in basic education, programs to target at-risk youth, and the like – are so much more costly and also less likely to have an impact. 

Homework from the Seoul G-20: Measuring Skills

Ariel Fiszbein's picture

The Seoul G20 summit in November ended with some homework for the World Bank. We were asked to work with the ILO, OECD and UNESCO to develop internationally comparable indicators of skills that can help countries in their efforts to better match education and job training to market needs.  The G20 was right to make this a priority. 

In this post-financial crisis period, jobs play an important  role in recovery. Making sure that people have the right skills to get these jobs is the other side. Developing countries, especially, know that skills development is necessary if they are going to attract investment that will create decent jobs and raise productivity.

Jumpstarting Jobs: Skills Start with Education

Christine Horansky's picture

As the World Bank's Annual Meetings met to discuss global development this October, the issue of jobs was front and center. The new Open Forum 2010 allowed leading thinkers and engaged citizens from around the globe to weigh in on the ultimate question of how to jump-start jobs, as well as cultivate economic stabilty for future generations.  

Read the Human Development Network's Vice President Tamar Manuelyan Atinc's commentary, as she discusses the Jumpstarting Jobs session from the Meetings Center blog: