International evidence shows that investing in high-quality early childhood programs can have large economic returns, especially for children from socially disadvantaged groups. In response, developing countries are looking to increase public investments in the early years, especially in early education programs. As they do so, one of the challenges policymakers face is deciding what to fund. After all, there are a wide range of opportunities for early childhood education that already exist in local settings such as playgroups and kindergartens. As a result, different children can often have very different early childhood education experiences on their way to primary school.
There is a big debate about the role of financial markets and products in shaping consumer welfare and real economic activity. In developed economies, there is an increasing discussion that financial sector may have become inefficiently large and products offered to households may have become excessively complex. In contrast, in many developing countries, like India, there has been a significant push to increase the usage of financial products — to “complete” the market.
This article is based on an extensive scientific study that evaluates the Pradhan Mantri Jan Dhan Yojna (“JDY”) launched in India on August 28, 2014. Our study has two modest objectives. First, we document the initial uptake and subsequent usage of banking services — that includes a savings account, overdraft facilities, and insurance benefits — by the unbanked targeted by the program. We compare the usage patterns of banking services of households who got access to banking under JDY with similar households who already had access to banking services before the program. Second, we exploit the regional variation in financial access to explore how expanding access to financial services is related to broader outcomes such as GDP growth, lending, consumption expenditure, retail commodity prices and house prices.
Tolstoy's War and Peace was the big data of its time. A memorable moment from the epic novel occurs when Prince Andrei awakens following a severe injury on the battlefield. He fears the worst but, "above him there was nothing but the sky, the lofty heavens, not clear, yet immeasurably lofty, with gray clouds slowly drifting across them. 'How quiet, solemn, and serene, not at all as it was when I was running.'" Time appears to slow down and the Prince sees life more lucidly than ever before as he discovers the potential for happiness within him.
In many ways the scene captures what we demand of big data—not the bustle of zillions of data points as confusing as the fog of war, but sharp, clear insights that bring the right information into relief and help us connect strands previously unseen. The question of whether this idea is achievable is the starting point of a paper about big data on trade and competitiveness just published by the World Bank Group. In it, we asked—can big data help policy makers see the world in ways they haven't before? Are decisions that are informed by the vast amounts of data that envelop us better than decisions based on traditional tools? We didn't want a story trumpeting the miracles of big data; we wanted instead to see the reality of big data in action, in its messiness and its splendor.
Also available in: Français
Youth trained with The Next Economy methodology.
© Cesar Gbedema/Impact Hub Bamako
Last month, Impact Hub Bamako celebrated its first birthday. The first of its kind in Mali, Impact Hub Bamako is part of a global network of more than 15,000 members in more than 80 locations worldwide, from Bogota to Phnom Penh. Combining innovation lab services with incubator and accelerator programs and a center for social entrepreneurship, Impact Hub Bamako provides a unique ecosystem of resources, inspiration and collaboration opportunities for young, creative Malians working towards a common goal.
Co-founded by four young Malians — Fayelle Ouane, Kadidia Konaré, Mohamed Keita and Issam Chleuh — Impact Hub Bamako seeks to promote entrepreneurship and generate youth-driven solutions to Mali’s problems, as well as support women’s entrepreneurship and encourage social entrepreneurs to build a shared vision and work together for a collective impact.
“Establishing a community of young entrepreneurs was very important to us,” says Ouane, “so that everyone can build on and benefit from each other’s expertise and knowledge.” Indeed, Impact Hub Bamako hosts a diverse community of entrepreneurs, strategic advisors, architects, social workers, students, consultants, renewable energy specialists, and experts in agribusiness, ICT and corporate social responsibility.
By providing a shared space to work, as well as access to meeting rooms, events and that all-important internet connection, Impact Hub Bamako has given participants the opportunity to leverage each other’s expertise, as well as grow their professional networks not just nationally but globally, as Impact Hub boasts a multinational presence.
“This is our comparative advantage,” agrees Keita, now the hub’s director. “Our incubation/acceleration programs seek not only to promote the necessary conditions for job creation in our country, but also to professionalize our workforce and give them the tools to meet the demands of any employer.”
- In the journal Epidemics, McCormick et al. (2017) consider the static and dynamic displacement effects of behavior change interventions for HIV prevention.
“Perception and humour are the same thing. A joke is only funny if it gets at a truth. Prose that makes us laugh contain an observation that had always half-occurred to us but which we could never put into so many words.”
- Janan Ganesh, a political columnist for the Financial Times. Previously, he was a political correspondent for The Economist. He appears weekly on BBC1's Sunday Politics television show and wrote a biography of George Osborne, the UK chancellor.
Quoted in the Financial Times, March 25, 2017, "The unbearable sadness of bookshelves. " by Janan Ganesh
In the spring of 1997 I conducted the research for a study of Mongolia’s informal sector. It was the first such study in the country and there was a blank slate in terms of information. I was fascinated by how rapidly it had grown, by questions about the size of the sector, by how people working in the informal sector see and organized themselves, by informal entrepreneurship and the spontaneity of markets.
I had as much fun as I have had in my career before or since, poring through statistics, interviewing taxi drivers and shoe shine boys. I interviewed officials on how they decide to provide permission for kiosks to set up shop and how they collaborate with informal (i.e., private, independent) buses. I worked with the NSO and the Ulaanbaatar city statistics department to do a survey to put some numbers with the stories.
To an economist, working on the West Bank and Gaza can be exceptionally frustrating. No matter how good the analysis, the policy implications from that analysis are blocked because of “politics.”
Born in Tunisia, Selma Turki left her native country for France when she was two. She returned to Tunisia for high school and to pass her Baccalaureate. She studied architecture for two years at the Paris Ecole des Beaux Arts before moving to Canada to pursue her studies in computer science. She also accomplished leadership and management education at Henley Business School (UK) and Berkeley (US).
Two weeks ago, on World Water Day (March 22), I was privileged to represent the World Bank’s Water Practice at a conference called: “Watershed: Replenishing Water Values for a Thirsty World” in Vatican, sponsored by the Pontifical Council for Culture of the Vatican, the Circle of Blue and the Club of Rome.
Pope Francis opened the conference and gave a special welcome. “I am happy that this meeting is taking place, for it represents yet another stage in the joint commitment of various institutions to raising consciousness about the need to protect water as a treasure belonging to everyone, mindful too of its cultural and religious significance,” he said.
While I went to the event with high expectations, I had not expected the rush of emotion that I felt as the Pope delivered this message on water - and how intensely personal these words felt to me in my 30th year of working on delivering water and sanitation services to communities in developing countries.