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May 2012

Five reasons why Kenya and Africa should take off

Wolfgang Fengler's picture

A week hardly goes-by without one or more international investors announcingmajor investment interests in Nairobi, or other African capital cities.

Nokia, Nestle, and IBM are some of the companies which intend to position themselves more strongly in (East) Africa. True, their investments may still be low by international standards, but they are increasingly becoming noticeable. 

On a macroeconomic level, the new Africa momentum has also been evident. Africa has weathered both the global financial crisis, and the turbulence in the Euro zone. According to World Bank’s latest economic outlook, Sub-Saharan Africa is projected to grow above 5 percent in 2012 and 2013. This would be higher than the average of developing countries (excluding China), and substantially, above growth in high-income countries. This means that at some point in this decade, Africa could grow above the levels of Asia.  A few years ago, it would not have been possible for economic observers to consider such a scenario.  Once Africa becomes the fastest growing continent in the world; this will also be the true turning point for Africa’s global perception.

What do existing household surveys tell us about gender? It depends which sector you ask

Julie Babinard's picture

A very good panel discussion this week on Gender Equality Data and Tools at the Bank reminded me of the research we did in transport on household surveys with my friend and a World Bank colleague, Kinnon Scott. In retrospect, this work should be better advertised as it touches upon many of the points that were raised on the importance of gender-relevant data for policy. The three main questions that follow permeate t

The Institutional Structures of Financial Sector Supervision

Martin Melecky's picture

The global financial crisis made us rethink financial sector regulation and supervision. As part of this process there has been a renewed interest in the institutional structure of financial services supervision. This includes reflections on the differences in these structures across countries, their development over time and their relative performance in the run-up and during the crisis. Several important questions have arisen: (i) why supervisory structures for the financial sector differ so much across countries, especially in the extent to which they integrate the microprudential supervision of financial subsectors (banking, insurance, capital markets), (ii) why some countries have chosen to institutionally integrate microprudential and macroprudential supervisions while other keep those separated, (iii) why business conduct supervision has been introduced in some countries and not others, and how does it interact with institutions that support prudential supervision? From a development perspective, one may also want to ask the questions of: (i) what models have the emerging market economies and developing countries chosen to follow and why, and (ii) is there a prevailing trend toward certain benchmark models that countries have followed according to their financial system typology?

A Global Effort Is Building to Save Our Oceans

Rachel Kyte's picture

Imagine what the world’s leading ocean scientists, policy experts, private sector actors, and activists could accomplish if they united as a single force for ocean health.

We’re about to find out.

Projected slowdown in aid flows underscores need for enhanced effectiveness

Annette De Kleine Feige's picture

The Global Monitoring Report 2012 reports on the remarkable growth in Official Development Assistance (ODA) over the decade through 2010, despite the global financial crisis centered in high-income donor countries. Net ODA reported to the Development Assistance Committee  (DAC) of the Organization for Economic Co-operation and Development (OECD) rose from 0.22 percent as a weighted average of donors’ gross national incomes (GNI) in 2000 to 0.32 percent in 2010 and reached a record high of $127.3 billion in 2010 (at 2009 prices)—very close to the target of $130 billion set at the G-8 Gleneagles Summit in 2005. There is some evidence that international coordination, notably the commitments made at Gleneagles, contributed to the rise in aid disbursements.

Growth strengthens in MENA, but vulnerabilities persist

Elena Ianchovichina's picture

Our latest regional outlook shows a two-track path for growth in MENA. In 2012 oil exporters are likely to fare much better than oil importers in the Middle East and North Africa (MENA). Growth of MENA’s oil exporting countries will be strong and rise from the average of 3.4 percent in 2011 to 5.4 percent in 2012. The new Regional Economic Update presents the outlook for MENA in the context of rapidly-evolving global and domestic environments, recognizing the linkages that matter for shaping country-specific outlooks and the multiple risks that could alter them.

The Job Challenge in Post-Conflict and Fragile States

Paul Collier's picture

For post-conflict and fragile states, there is an acute need for generating and sustaining gainful and productive employment to help economies rebuild. Paul Collier a Professor of Economics at Oxford University, specializes in governance in low-income countries including the economics of civil war. We asked his thoughts on job creation in post-conflict and fragile states, which sectors hold the most promise, and where the bottlenecks lie.

Stopping the Rot: Beating the Grain Storage Crisis In India

David Lawrence's picture

 

India is swimming in grain these days, thanks to the Green Revolution, bumper crops and food security policies that encourage farmers to grow more. But unfortunately, India’s ability to store and manage its surplus grain hasn’t kept pace with production. The Wall Street Journal reports that state-run warehouses have a capacity of 63 million metric tons, while grain stocks are expected to be 75 million. To make things worse, many existing storage facilities are low-quality structures that aren’t up to the job. This means millions of tons of grain could be lost through exposure, deterioration and pests—bad news in a country of 1.2 billion with widespread hunger and an estimated poverty rate of 32 percent.


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