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Can debt managers save the world?

M. Coskun Cangoz's picture
© Thinkstock
© Thinkstock

It was ten years ago, right before the global crisis when Lehman Brothers had not collapsed, and Fannie Mae and Freddie Mac had not been placed into conservatorship. For debt managers, the markets were less volatile and the future was less uncertain. In Turkey we were dealing with the implementation of the post-crisis reform agenda.
 
One day, I got an invitation from my son’s eighth-grade teacher to speak at the school’s “careers day” which aims educate children on different types of jobs.  I accepted the invitation but I was a little worried because, as a debt manager I have a “different type of job” that was not necessarily an “exciting” one.

The role of development financial institutions in the new millennium

José de Luna-Martínez's picture
Around the world, development financial institutions help to promote economic growth, support social development and alleviate poverty.
Photo: bigstock/Elena Larina
Are national development financial institutions (DFIs) still relevant? What are the critical factors that make these institutions succeed? What are concrete examples of sound, well-administered and innovative DFIs? Why do they still remain in business in countries with large and sophisticated financial systems? How can we assess their economic and social impact? Have our views on DFIs evolved in the past decades?
 

Weekly links September 29: mixed methods (not just for footnotes), parenting in China, step away from that quadratic, and more…

David McKenzie's picture

Many around the world worry about inequality, especially women

Jing Guo's picture

In recent decades, income inequality has risen in most of the developed world and many developing countries. There are plenty of reasons to be worried about income inequality, as it often leads to unequal life opportunities, exacerbates disparities in health and life expectancy, and jeopardizes social unity.

While most of research work on inequality tends to focus on the poor, a recent World Bank Group survey set out to explore how the opinion leaders—who are often economically better-off—perceive the growing gap between the rich and the poor.

The survey interviewed more than 10,000 key opinion leaders[1] in fifty-two developing countries to find out 1) how concerned they are about income inequality, and 2) whether they perceived a link between equality of opportunity and poverty reduction.

Let’s take a look at the key findings.

Income inequality

The survey data show that majorities of opinion leaders in all but two countries (Uzbekistan and Belarus) perceived the gap between the rich and the poor as “a very big” or “moderately big problem” in their countries.

 

Bangladesh corridor vital to India’s ‘Act East’ policy

Sanjay Kathuria's picture
India-Bangladesh land border crossing, Photo by Sanjay Kathuria
India-Bangladesh land border crossing. Credit: Sanjay Kathuria

Deepening connectivity and economic linkages between India and Bangladesh will be critical for the success of India’s ‘Act East’ policy.

Here are five priority areas that have the potential to change the economy of Northeast India:

1. Transport Connectivity

After 1947, Northeast (NE) India has had to access the rest of India largely via the “Chicken’s Neck” near Siliguri, greatly increasing travel times. Traders travel 1600 km from Agartala (Tripura) to Kolkata (West Bengal) via Siliguri to access Kolkata port. Instead, they can travel less than 600 kms to reach the same destination via Bangladesh, or even better, travel only 200 km to access the nearby port of Chittagong in Bangladesh.

This is set to change as close cooperation between Bangladesh and India (including various ongoing initiatives such as the transshipment of Indian goods through Bangladesh’s Ashuganj port to Northeast India, expanding of rail links within Northeast India and between the two countries, the BBIN Motor Vehicles Agreement) can dramatically reduce the cost of transport between Northeast India and the rest of India.

The resultant decline in prices of goods and services can have a strong impact on consumer welfare and poverty reduction in the Northeast. Such cooperation also opens up several additional possibilities of linking India with ASEAN via Myanmar.

Moving forward, expanding direct connectivity between NE India and the rest of India via Bangladesh, while giving Bangladesh similar access to Nepal and Bhutan via India, is critical.

2. Digital Connectivity

Broadband connectivity of 10 gbps is now being provided from Bangladesh’s Cox’s Bazar to Tripura and beyond, to help improve the speed and reliability of internet access in NE India. Bangladesh has the capacity to provide more.

Learning to realize education’s promise

Deon Filmer's picture

The 2018 World Development Report (WDR), Learning to Realize Education’s Promise, launched this week.  While it draws on research and collective experience—both from within and outside the World Bank—it also draws on the personal experience of the team members, including the two of us.  What inspires the focus on learning for all is that we both have seen the possibilities of widely shared learning, but we’ve also seen what happens when those possibilities aren’t fulfilled.
 

The case for physical and mental wellness programs in the workplace

Patricio V. Marquez's picture



The launching of the iPhones 8 and X and the advent of genomic-based precision medicine for disease treatment and prevention, are new reminders that technological innovation is fueling momentous change in our daily lives. Indeed, as Professor Klaus Schwab, the chairman of the World Economic Forum describes, the physical, digital and biological trends underpinning what he calls 'the fourth industrial revolution', are unleashing changes “unlike anything humankind has experienced before.”  

PPI Database users leave their mark on the new resources section

Deblina Saha's picture


Photo: yuttana Contributor Studio / Shutterstock.com

Most of us carry out research and report our findings with the expectation—or at least a hope—of an audience.
 
Yet fewer amongst us are familiar with our audience, even though their feedback may help us improve our work.
 
We, the team behind the Private Participation in Infrastructure (PPI) Database—the most comprehensive database of private investments in infrastructure in the developing world—continue to strengthen the database and our ensuing analyses. Learning more about our audience is an important component of these efforts. 

Causes of preventable and premature deaths vary across the globe

Emi Suzuki's picture

This blog is part of a series using data from World Development Indicators to explore progress towards the Sustainable Development Goals and their associated targets. The new Atlas of Sustainable Development Goals 2017, published in April 2017, and the SDG Dashboard provide in-depth analyses of all 17 goals.

Communicable diseases cause more premature deaths in Sub-Saharan Africa than elsewhere in the world. But high rates of death through noncommunicable diseases are found in other regions as well. A higher number of health care professionals available to patients correlates with lower mortality before the age of 70, and, as newer drugs to prevent or treat disease come onto market, countries are seeing falls in the incidence of fatal diseases. Data from the World Bank’s World Development Indicators explores progress made towards the targets of Sustainable Development Goal 3, which promotes Good Health and Well-Being at all ages.

Sub-Saharan Africa bears the brunt of communicable diseases

AIDS, tuberculosis, and malaria together affect hundreds of millions of people worldwide, and putting an end to these diseases is a priority under Goal 3 (target 3.3). People in Sub-Saharan Africa are more likely than those in other regions to become infected: 2.2 of every 1,000 uninfected people ages 15-49 contracted HIV in 2016; there were 276 new cases of tuberculosis per 100,000 people in 2015; and the incidence of malaria was 234 cases per 1,000 persons at risk.

However, the region has shown improvements in tackling these diseases, the incidence of new cases of HIV has declined by nearly two-thirds since 2000, the incidence of new cases of malaria by nearly a half, and the incidence of new cases of tuberculosis by a fifth over the same period.

Sri Lanka, you have a right to know!

Idah Z. Pswarayi-Riddihough's picture
Sri Lanka's Right to Information act (RTI) can help citizens hold governments accountable and encourage citizens to participate actively in their democracy.
Sri Lanka's Right to Information act (RTI) can help citizens hold governments accountable and encourage citizens to participate actively in their democracy.


Today, the world marks the International Day for the Universal Access to Information. Fittingly, we in Sri Lanka, celebrate 7 months since the Right to Information (RTI) Bill was enacted.  

The product of a slow and steady reform process, RTI is a milestone in Sri Lanka’s history.

Yet how many citizens know about its benefits?

As open access to information takes international center stage today, I’m hoping Sri Lanka’s Right to Information Bill, one of the world’s most comprehensive, will get the attention it deserves.

There is indeed much to celebrate.

Civil society organizations and private citizens are putting Sri Lanka’s RTI to the test. Diverse requests have been filed, from questions relating to how investments are made for the Employees’ Provident Fund (EPF) to how soil and sand mining permits have been allotted in districts like Gampaha.

Interestingly, people living in rural areas are more aware -- and vocal -- of their rights to know than people in urban areas.

The government is making steady progress. In the last six months, more than 3,000 information officers have been recruited. An independent RTI Commission enforces compliance and acts on those who do not follow the law. If, for example, an information officer refuses to release information pertaining to a citizen’s life, they must provide a valid reason or face legal penalties.

In the next few years, the Sri Lankan bureaucracy faces the huge task of revamping its record management, including its land registration system. This reform is an opportunity to live up to RTI’s ambitions of open governance and help citizens access land title information and records that give them a legal title to their property.


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