The world has become relatively less poor in the last few decades. People under conditions of extreme poverty -- that is, living on less than $1.25 per day -- have declined as a proportion of the world population, from 52 percent in 1981 to 22 percent in 2008. Thirty years ago almost 75 percent of the developing world lived with $2 a day or less, this number is down to 43 percent today.
I'm sure I'm not the only one who uses my mobile phone for almost everything but to make a call. Thanks to technological advances and the explosion of social media, we text, tweet or do Facebook posts on our devices. But beyond mere communications tools, mobile phones are also crucial for fostering economic activity and development. And I don't mean just in the U.S. and rich countries, but in developing countries.
Almost 20 years ago, the World Bank released a groundbreaking report – The East Asian Miracle – that called worldwide attention to the economic success of eight economies in the region, leading to a discussion on the extent to which policies followed by them could be replicated.
When World Bank President Jim Yong Kim addressed the joint boards of governors of the Bank and the IMF in Tokyo last month, he took a powerful theme.
Whether it is in the U.S. presidential election campaign or as a result of the debt crisis in Europe, people on both sides of the Atlantic are debating the role of the state. Do we need more government or less of it? Do we want more public services provided by the state and funded with taxpayers’ money? Or are we better off with the private sector and nongovernmental organizations (NGOs) doing the job?
Global spotlights are on jobs. Headlines last Friday highlighted the US jobless rate, which fell to 7.8 percent, the lowest level in four years.
As part of their response to negative shocks coming from advanced economies after Lehman's collapse in 2008, most developing countries resorted to countercyclical fiscal policy.
Gross Domestic Product, better known as GDP, is the market value of all final goods and services produced within a country in a given period. That's why GDP per capita is widely used as a summary indicator of living standards in a country. No wonder we keep our eyes closely on its evolution and compare its levels among countries.