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April 2013

Making the most of Africa’s growth momentum

Punam Chuhan-Pole's picture

Co-authored with Luc Christiaensen and Aly Sanoh

For a decade and a half now, Africa has been growing robustly, and the region’s economic prospects remain good. In per capita terms, GDP has expanded at 2.4 percent per year, good for an average increase in GDP per capita of 50 percent since 1996.

But the averages also hide a substantial degree of variation.  For example, GDP per capita in resource-rich countries grew 2.2 times faster during 1996-2011 than in resource-poor countries (Figure 1).  Though not the only factor explaining improved performance—fast growth has also been recorded in a number of resource-poor countries such as Rwanda, Ethiopia and Mozambique (before its resource discoveries)—buoyant commodity prices and the expansion of mineral resource exploitation have undoubtedly played  an important role in spurring growth in several of Africa’s countries. Even more, with only an expected 4 or 5 countries on the African continent without mineral exploitation by 2020, they will continue to do so in the future. Yet, despite the better growth performance, poverty declined substantially less in resource-rich countries.

Can the Internet Make Elections Fair and Efficient?

Shamiela Mir's picture

Can the internet help make elections fair and efficient in developing countries?

A presentation “eParticipation: Citizen Consultation ePlatform –Mexico City Case Study” was given by Edgardo Torres-Caballero, the General Manager for Latin America for Scytl who talked about how ePlatform developed by the company helped Mexico City successfully conduct an electronic consultation through which the city residents cast their votes on-line to select public projects.

Bird Flu and Public Health Systems: Lessons of History

Patricio V. Marquez's picture

(image: Wikipedia Commons)

 

Here we go again!  In the last couple of weeks there has been a lot of media buzz about the outbreak of H7N9, a new deadly bird flu virus in China, centered in Shanghai and surrounding provinces and now reported in Beijing.  This outbreak follows the global panic and economic and travel disruptions caused by the severe acute respiratory syndrome, or SARS, in 2003 and the H5N1 avian influenza outbreak in 2006. 

Can Socially Responsible Investing bridge the Gap between Islamic and Conventional Financial Markets?

Michael Bennett's picture

Islamic finance is growing in countries like Malaysia (Credit: Asian Development Bank, Flickr Creative Commons)

Over the last three decades, the concepts of Islamic finance have captured the attention of researchers. One of the core principles of Islamic finance is the prohibition of interest and debt-based financing. Instead, economic agents are encouraged to engage in financial instruments of risk-sharing rather than risk transfer.  Although the principles of Islamic finance go back several centuries, its practice in modern financial markets became recognized only in the 1980s, and began to represent a meaningful share of global financial activity only around the beginning of this century. The growth of this market has been driven by the high demand for Islamic financial products, as well as the increasing liquidity in Gulf region due to high oil revenues.  Table 1 shows the growth trend in Islamic finance for the banking sectors by different regions, with estimates of total Islamic banking assets reaching $1.8 trillion by the end of 2013. Figure 1 shows how the growth of the Islamic financial sector in 2006–10 period surpassed the growth of conventional financial sector in all segments of the market, ranging from commercial banking, investment banking, and fund management to insurance in several Muslim-majority countries.

Getting to better data: who does the editing?

Markus Goldstein's picture

In a previous post I talked about some issues with collecting gender disaggregating data in practice. Susan Watkins helpfully pointed me to a number of papers which provide more systematic and thoughtful evidence on data collection issues that a lot of us face and I thought it would be useful to summarize some of them here.  

Youth Financial Services: Changing the mindset

With an estimated 1.2 billion young people between the ages of 15 and 24, the vast majority of them living in developing countries, youth are both a policy and political priority for many countries around the world.

An increasing number of governments are turning to youth financial services. Access to financial services—savings, payments, credit and insurance—can help young people to build assets, protect themselves against risk, and it can unlock economic potential. Yet, the World Bank’s Global Financial Inclusion Database (Findex shows that youth are 33 percent less likely to own a bank account than an adult.

Last week we asked you for questions to put to policy makers gathered at a CGAP event in Paris to discuss what can be done to improve opportunities for youth through financial services. This video shows policy makers’ responding to the question: “Why youth financial services?”

Reconciling the two “sciences of delivery”

Adam Wagstaff's picture

Last week on Let’s Talk Development, I asked what the term “science of delivery” (SOD) means. I suggested that SOD is about moving from thinking about “what to deliver” to “how to deliver”.  We know, for example, the interventions that cut child mortality (bednets, vaccinations, breastfeeding, etc.) but these interventions reach too few children, and the trick is to get them delivered to more. Much of the Bank’s analytic work, policy dialogue and lending work has focused precisely on how to reform policies and programs to ensure the interventions that are needed to improve development outcomes actually reach people. Much of this work merits the term “science” – it makes use of an explicit “theory of change” in the form of a results framework that reflects the latest social science, and builds on rigorous empirical evidence that compares actual outcomes with an explicit and plausible counterfactual.

On the Path to Resilient Development – 2015 & Beyond

Francis Ghesquiere's picture

Available 日本語

Building a sea wall in Kiribati. Lauren Day/World Bank

These are exciting days at the World Bank Group. We are getting ready to receive delegates from our 188 member countries, who will gather in Washington for the WBG-IMF Spring Meetings.

It is an especially important time for the Global Facility for Disaster Reduction and Recovery (GFDRR) and the disaster risk management team at the World Bank, as we prepare to host – together with the European Union, the Government of Japan, and USAID – the fourth round of the Resilience Dialogue. This round we are focusing on the role disaster and climate resilience can play in the post-2015 development framework.

Disaster and climate risks were not addressed as part of the original framework of the Millennium Development Goals (MDGs). Recent experience has provided countless examples of the devastating impacts of disasters – impacts that go well beyond dollar signs or GDP statistics. It has become evident that disaster and climate risks are impediments to the achievement of poverty reduction and sustainable development goals, and should therefore be integrated in the development framework that will replace the MDGs.

Talking Somali Piracy in Mogadishu

Phil Hay's picture

Ninety minutes after leaving Nairobi, UN flight 13W banks sharply over the Somali coastline in a series of steep turns that line it up for final approach into Mogadishu airport. The sharp turns are standard security measures to minimize exposure to fire from would-be attackers on the ground. Out of the starboard window, a number of small boats cut a slow, languid path through the ocean, while closer to the airport, large merchant ships sit anchored just off the end of the runway waiting to be unloaded in the nearby port which is the city’s economic lifeline. As we land, the tarmac shimmers in the 100 degree heat that now envelopes the city.

We’ve come to Mogadishu to present the findings of a new Bank study called The Pirates of Somalia: Ending the Threat: Rebuilding a Nation to senior ministers from the Somali government. The report concludes that Somalia cannot ‘buy’ its way out of piracy, and neither can the international community rely solely on its navies and law enforcement agencies to defeat the pirates, whether at sea or on land. The solution to Somali piracy is first and foremost political. 

In a fresh look at ending piracy off the Horn of Africa, the Bank suggests that a sustained solution to ending piracy will only come with the recreation of a viable Somali state that can deliver essential health, education, nutrition, and other services throughout the entire country, especially in those areas where piracy flourishes.


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