It is increasingly recognized that well-defined property rights are crucial for realizing the benefits of market exchange and that such rights are not exogenously given but evolve over time in response to economic and political forces. The reduction of expropriation risk and the facilitation of market transactions are the two main categories through which property rights systems affect economic outcomes. However, the mechanisms by which these two categories affect outcomes differ in important ways.
In my last blog, I wrote about a medium that plays a critical role in post-conflict reconciliation: art. I argued that the cultural industries—film, music, crafts, architecture, and theater, among other art forms—provide important benefits to post-conflict societies; therefore, policies that encourage the development and growth of these industries should be a critical part of a country’s comprehensive post-conflict reconstruction plan. In a further reflection on these points, this blog examines the story of Rwanda, a post-conflict society that is using film, theater, music, and other creative industries in its journey toward reconciliation and rebuilding.
- Social Development
- Social Impact of Art
- Rwanda Basket weaving Public Engagement in Arts
- Post-conflict Societies
- Post-conflict Reconstruction
- Post-Conflict Reconciliation
- post-conflict Countries
- fragile states
- Cultural Policies and Development
- Creative Industries
- Creative Economies and Development
- Art and Peace
- Art and Healing
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No two earthquakes in the world cause equal damage, according to scientists. This is particularly true in Latin America, a land of contrasts.
Whereas in 2010, an earthquake measuring 7 on the Richter scale ravaged Haiti, claiming nearly a quarter of a million lives, a few weeks ago in Mexico, an earthquake of similar magnitude (7.4) caused only a few cracks and minor injuries.
In 2007, when I started to work on rural sanitation in Tanzania, I was intrigued to see the plethora of reports highlighting the ‘sanitation crisis’ in Africa. Of all the Millennium Development Goals, Africa was performing worst in meeting the sanitation target. This message was repeated during the International Year of Sanitation and through the eThekwini Declaration and Commitments in 2008, at AfricaSan3 in 2011, and in the WHO/Unicef Joint Monitoring Programme report on progress toward MDGs released last month. But progress is slow. It’s time for us to engage with other groups and sectors that are affected by inadequate sanitation – health, education, environment, and finance.
An interesting new paper by Abhijit Banerjee, Raghabendra Chattopadhyay, Esther Duflo, Daniel Keniston, and Nina Singh shows how sometimes top-down reforms might be a good move through a look at a range of reforms tried out by the police in Rajasthan, India.
This post is part of our Closing the Gap: Financial Inclusion blog series, which shares the views of selected experts and practitioners on different financial inclusion topics.
Depending on where you start, in 500 BC for Coinage or in 1000 AD for paper money, cash has been the undisputed leader in how people pay and get paid. Sure, there have been innovations with credit cards in the mid-20th century, and an ever growing portion of money supply is composed of electronic value, but for most of the world cash is still king.
There are good reasons for this. Cash is simple, portable, anonymous, easily exchangeable at an agreed value by both buyer and seller and accepted nearly everywhere. Yet, the physical nature of cash creates big transaction costs, and a wide range of security and transparency risks.
For all its positive characteristics, cash is often in the wrong place at the wrong time, and it is surprisingly hard to hang onto for very long. For half the world we manage these barriers through access to formal financial services. Yet for half the world’s adults and nearly 78% of the world’s poor living on less than $2 a day, the costs of these services prevent them from having something as basic as a bank account. If the poor’s financial transactions were in digital form rather than cash, many more financial services would become affordable and available.
- financial inclusion
The stories of two families in a new video produced for the Spring Meetings illustrate how safety nets can change lives.
The title for this blog post comes from Mr. Amadou Cisse, Minister of Mines of Mali, who said that the Extractive Industries Transparency Initiative (EITI) “was one of the most beautiful initiatives that the World Bank has ever supported.”
The Minister, along with many of his African peers, participated at the huge Investing in African Mining Indaba event, an annual gathering in Cape Town. Mr. Cisse went on to add that “if there is no transparency, there is no peace.”