Since the global financial crisis of 2008, analysis and discussion of debt has taken center stage in economic and fiscal policy, especially in high income countries. Working closely with the IMF and other partners, the World Bank maintains two quarterly databases that provide useful information on external and public sector debt of many countries.
Let's think together: Every Sunday the World Bank in Tanzania in collaboration with The Citizen wants to stimulate your thinking by sharing data from recent official surveys in Tanzania and ask you a few questions.
About three out of four households report to have agriculture as their main activity. Even urban households are still involved in crop production.
Indeed, agriculture is an important sector for Tanzania contributing up to 26 per cent of GDP. Typically, farmers produce to feed their families but they also expect to gain revenues by selling their output. When farmers make more income from the sale of their produce this leads to more development in the rural areas which ultimately impacts positively on the overall economy. This is what has been surmised from the success stories of predominantly agricultural countries, such as Malaysia and Vietnam.
As the 2015 deadline for achieving the Millennium Development Goals approaches, much thought is being devoted to what should succeed that framework for measuring global progress against hunger, disease, and poverty. Any successor framework must reflect global aspirations and arise from a rich consultative process. I believe that the new framework must embrace a broader understanding of development — one that is relevant for all countries, rich as well as poor.
The world today looks very different from a few years ago. Many countries have high levels of debt that could make it difficult to undertake spending initiatives for many years. Financial sector incentives and regulation may have to be rethought, existing growth models refined to deliver sufficient new employment opportunities, and the functioning of the international monetary system revisited.
New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's, and will have little resemblance to yesterday's.
A company importing desktop computers into Russia expects border processing times of up to six weeks. Chinese customs authorities take so long inspecting drug shipments that a global healthcare company must hold nine days’ worth of inventory. Concerned about the prevalence of theft, a cell phone manufacturer must provide a security detail for overland shipments in Mexico.
These are examples of the supply chain barriers that, as a whole, are more detrimental to world trade than tariffs, according to a new report, Enabling Trade: Valuing Growth Opportunities, released today at the World Economic Forum in Davos. The study, a collaborative effort between Bain & Co., the World Bank and the World Economic Forum, concludes that a concerted effort to reduce supply chain barriers to levels observed in the best performing countries could increase global GDP by some 4.7 percent – six times more than what could be achieved from eradicating all remaining import tariffs.
We know malaria is a big problem and we know fake drugs are a big problem. What do you get when you put them together? Bad news. A recent paper by Martina Bjorkman-Nyqvist, Jakob Svensson and David Yanagizawa-Drott (ungated version here) shows how bad this problem is in Uganda, and provides an innovative way to deal with it.
Remittances sent by migrant workers have emerged as a key driver of poverty reduction in many developing countries. Bangladesh has caught up with growing migration trends since the mid-70s when only 6,000 Bangladeshis were working abroad. Today, there are about 8 million. Migration has now become a major source of gainful employment for Bangladesh’s growing number of unemployed and under-employed labor force. The sharpest increase in the level of manpower exports occurred during 2006--2009. Remittances have grown at a rapid pace, particularly since 2004.
So, what are the key correlates of aggregate remittance inflows in Bangladesh? What does the data tell us about Bangladesh? Many researchers have used aggregate data to analyze the macro-economic factors affecting the behavior of remitters. For example, Barua et al (2007) show that income differentials between host and home country and devaluation of home country currency positively and high inflation rate in home country negatively affect workers’ remittances1. Hasan (2008) finds remittances respond positively to home interest rate and incomes in host countries2. Ordinary Least Squares estimation is frequently used to characterize the statistical relationships between aggregate remittance inflows and their proximate macro correlates.
The key finding is that a limited number of macroeconomic factors are important in predicting the behavior of aggregate remittances.
With a rapidly increasing share of the world's poor now living in countries and territories classified as fragile or conflict-affected states, improving the conditions for private sector development can be one way for these countries to generate economic growth. This is an emerging priority of the Bank, and was a focus of much of the Investment Climate department’s work last year.
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In the context of a global economic slowdown and the search for balanced economic growth, I offer some elements for discussion.
All countries aspire to strong, sustainable economic growth given that it makes reducing poverty and expanding opportunities for all citizens much more feasible. There is no doubt about that. But how are high rates of growth achieved over the long term?
The debate in the United States on how to change a health system that is geared to treat illnesses to one that focuses on preventing people from getting sick stirred my curiosity on how companies can improve employee health. After all, employees spend most of their waking hours at the workplace.