International mobility of people is measured much less accurately than that of goods or finances. The most common sources of global data are from national censuses, which occur only every 10 years (and take years more to come out). Specialized surveys in some countries allow more frequent measurement of some flows, but such data are still relatively rare, and poorly suited to studying short-term migration movements.
East Asia economies are projected to grow by 7.8 percent this year, outpacing last year’s growth and potentially boosting the world economy, according to a new report by the World Bank Group. But World Bank Vice President for East Asia and Pacific, Axel van Trotsenburg, said in order to maintain sustained long term growth, East Asia governments must create jobs and improve infrastructure.
Group identity in the form of family, ethnicity, or gender is a powerful predictor of social preferences, as shown by theory and empirical work. In particular, people generally favor in-group over out-group members. Such favoritism can have positive or negative repercussions. On the one hand, it can lead to inefficient transactions and lost opportunities. On the other hand, group identity may also entail trust, reciprocity, and efficiency due to shared norms and understandings. In recent research with Patrick Behr and Andreas Madestam, we gauge these opposing hypotheses, examining one important form of group identity, gender, and the consequences of own-gender preferences for outcomes in the credit market. We use microcredit transactions as they are an ideal ground to test these different hypotheses, relying heavily on transaction between loan officers and borrowers.
Financial Markets… U.S. government bonds rose for a second day on Friday, with the benchmark 10-year Treasury yields sliding 5 basis points to 1.74%, as U.S. retail sales eased in March. Renewed concerns over Cyprus in the wake of “further aid” talk also boosted demand for Treasuries.
Dollar-denominated bond sales in Asia excluding Japanreached all-time highs this week as dollar borrowings costs for region’s issuers dropped to a five-week low of 4.26% on Monday.
The excitement about the promise and potential of Massive Open Online Courses is white hot in many quarters. For those who aren't familiar with the phenomenon:
A MOOC is an online course, usually at the university level, offered for free over the Internet which aims for large-scale (some courses have enrolled over 100,000 students at a time), 'open' (anyone can join) participation over the Internet.
Daphne Koller, the co-founder of Coursera, one of the largest and best-known MOOCs (the two other 'leaders in this space are Udacity and edX) stopped by the World Bank in late February to talk about what Coursera is doing, and learning. While MOOCs have enrolled students from developing countries pretty much from the start, there have not yet been many attempts to systematically include MOOCs as part of targeted education efforts in low income countries. What might such an attempt look like?
With support from the World Bank, a new pilot initiative in Tanzania is seeking to incorporate Coursera offerings as part of a broader initiative to help equip students with market-relevant IT skills. Employers in Tanzania complain that there is a mismatch of skills in the local labor market. Many jobs go unfilled because there are deficits of people with the relevant skills in the local market. There is a growing need for IT and ICT knowledge and skills necessary meet growing demand for technically skilled workers across Tanzanian corporations. For this and other reasons, Tanzania is trying to improve the quality of its higher education system. Currently a very small number of highly capable African students go abroad to meet their related educational and training needs. At the same time, Tanzania is hoping to improve its capacity to attract high caliber students from across the region to study at Tanzanian universities. What, then, to do?
We will launch the Global Knowledge Partnership on Migration and Development (KNOMAD) on Friday April 19th, on the sidelines of the Spring Meetings of the World Bank and the IMF. At this event we will also present the new Migration and Development Brief with the latest data and outlook for migration and remittance flows worldwide.
As part of our Open Data initiative, we’ve just launched a new World Bank Data Help Desk, a platform that integrates feedback, help desk, and knowledge management tools into one easy-to-use platform. We hope it will empower users to get quicker answers to their questions, and encourage a dialogue about how to improve data for development.
Give Feedback (we want to hear from you!)
Yesterday marked the launch of the Hunger and Nutrition Commitment Index (HANCI), produced by the Institute of Development Studies (IDS) with funding from Irish Aid and DFID. It looks like it could become one of the more useful annual league tables.
It may not be seen as a progressive view in the UK, but I’m a big league table fan, especially when they’re combined with access to new information. They use political rivalry to motivate politicians, the media love them, they allow good guys to be praised, as well as under-performers to be slapped, and they hand civil society some useful ammunition. The post2015 circus might be well advised to spend more time designing an effective league table, rather than adding yet more issues to its Christmas tree.
The very fact alone that this country and its people were in bondage for 42 years is unbelievable. The fact that the nation rose up against tyranny in spite of real danger, incredible losses and an uncertain outcome is a testimony to the courage and determination of a people to win their freedom. And the fact that the Libyan people, and especially its young men and women, hold such incredible optimism about the future, speaks to the indomitable spirit of a nation.
The following post is a part of a series that discusses 'managing risk for development,' the theme of the World Bank’s upcoming World Development Report 2014.
A composite story based on prevailing business practices
In January 1990 after the Velvet Revolution, Jan Sarkis, the son of a Greek immigrant in rural Czech Republic, decides to start a business to produce bottled juices. To obtain needed machinery and funds for working capital (fruits, containers, bottles, etc.), Jan takes credit from a local bank. He had heard from the locals that the region used to experience periodic floods. Although Jan hasn’t experienced any himself, he still buys flood insurance from a reputable insurance company. In the 90s, rural Czech Republic was prone to thefts and burglary. So, Jan decides to protect his savings by depositing them in a bank. Good times settle in Czekia, and Jan’s business and the country begin to boom.