Questions like these were at the center of discussions at the Fuel Economy Accelerator Symposium held in Paris last week. The event, organized by the Global Fuel Economy Initiative (GFEI), was hosted by the French Ministry of Ecology, Sustainable Development and Energy. I represented the World Bank at this event, which took place on the heels of the UN Secretary General’s upcoming Climate Conference in New York, scheduled for late September. As a result, the topic of the fuel economy and energy efficiency is especially timely and relevant.
Doubling the global rate of improvement in energy efficiency by 2030 is one of the three major objectives of Sustainable Energy for All (SE4ALL), an initiative led by the UN Secretary-General and the President of the World Bank Group. The other two goals by 2030 are to provide universal access to electricity and modern cooking solutions, and to double the share of renewable energy in the global energy mix.
Yet, as a new publication by the Debt Resolution and Business Exit Program at the World Bank Group points out, insolvency is not just about the liquidation of failing businesses. Rather, effective insolvency frameworks also provide an orderly legal process for the reorganization of insolvent entities. As such, insolvency law helps save viable businesses, and allows failed businesses to “exit” the market efficiently and effectively, returning assets to productive use.
The recent World Bank Development Report 2014 notes that “bankruptcy laws […] are important to liberate productive resources from an unproductive enterprise and to ensure that creditors and potential investors in other enterprises are protected if a business fails.” Hence, effective insolvency systems bear the potential for enhancing access and availability of credit, increasing returns to creditors, preserving jobs, and fostering economic growth.
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In Libya right now, one out of every two people is 24 years old or younger (52 percent).
One out of every two fighters was previously unemployed or a student (52 percent).
Why does this matter?
Since my last trip to Tripoli in April, the unfolding conflict has brought these numbers to life. At the time, opportunities were emerging, which I’ll return to in a bit. The current conflict notwithstanding, it was clear at the time that Libya has immense potential due to its natural resources and unique geography.
Economic development theorists and practitioners are increasingly using the term “middle-income trap” to describe the situation where developing economies’ convergence to the development frontier comes to a halt once their income per capita reaches a middle-income level. The term is ambiguous: is it a halt in convergence or slowdown in growth, and what exactly is the definition of middle-income? Nevertheless, the concept has been successfully used to create a scare that developing countries are more likely to run out of breath or even give up the race in the middle of the track than to continue catching up with the leading economies. Eichengreen et al. and several IMF economists are among those who provide empirical evidence that the “middle-income trap” is real and that developing countries do get stuck at some low-level equilibrium.
The Bangladesh government wants to enhance support for university research as a part of its strategy for higher education (Strategic Plan 2006-2026). Supported by the Academic Innovation Fund (AIF) under the Higher Education Quality Enhancement Project (HEQEP), researchers in Bangladeshi universities are conducting advanced research on some of the most pressing economic challenges in key sectors of the country such as agriculture, environment, and health. With upgraded research facilities and equipment, Bangladeshi faculties are publishing more on international scientific journals and training competent PhD graduates.
These are some of the views and reports relevant to our readers that caught our attention this week.
Facebook Reaches a Landmark 100-Million Users in Africa Through Mobile
Thanks to mobile connectivity, half of Africa's 200-million internet users were accessing Facebook on a monthly basis in June 2014, indicating that the social media giant's efforts at penetrating emerging market are paying off. There's explosive growth and incredible momentum across Africa. "We now have 100-million people coming to Facebook every month across the African continent with more than 80% using mobile devices," says Nicola Mendelsohn, Facebook vice president for Europe, Middle East and Africa.
UNICEF's Hidden in Plain Sight report details child homicides, domestic violence in 190 countries
One in five homicide victims worldwide are children, a report by UN children's agency UNICEF has revealed. The Hidden in Plain Sight report analyses data from 190 countries and lists alarming statistics on child homicides, domestic violence and rape. The report found violence against children was most common in the home and with caregivers. UNICEF spokesman for Eastern and Southern Africa, James Elder, said the report may not even capture the full extent of the problem. "Violence is a very difficult thing often to detect, it goes grossly unreported, so one of the terrifying things from this report is knowing that in fact the numbers would be lower than the reality," he said.
Sally McGregor was a newly trained physician when she moved to Jamaica in 1965 from England for what she called a one-year “adventure.” She ended up marrying and staying 35 years. It’s a good thing she did. The impact evaluation of a program she designed to improve the development of chronically malnourished toddlers in Jamaica is changing how the development world views – and tries to improve – the problems faced by disadvantaged children all over the world.
, including the opening plenary, feature articles, World Bank infographics, publications, and more.
If you are interested in Theories of Change (ToCs), you have to read Craig Valters’ new paper ‘Theories of Change in International Development: Communication, Learning or Accountability’ or at least, his accompanying blog. The paper draws on the fascinating collaboration between the LSE and The Asia Foundation, in which TAF gave LSE researchers access to its country programmes and asked them to study their use of ToCs. That means Craig has been able to observe their use (and abuse) in practice.
What this paper helps answer is the question I raised a while ago – will ToCs go the way of the logframe, starting out as a good idea, but being steadily dumbed down into a counterproductive tickbox exercise by the procedural demands of the aid business?