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October 2013

Mobile Innovation from the field: We can now talk directly with students, teachers and parents in Uganda

Kidus Asfaw's picture

Senator John Kerry’s recent speech to World Bank staff, which a colleague reported on earlier, was clear and powerful. He said that the development challenges of the 21st century cannot be delivered by international financial institutions with 20th century structures and priorities. He could have not have started his speech better that he did—with a call for the governance of these institutions to reflect today’s transformed global economic landscape and a merit-based staff selection system from bottom to top.  

In our work and experience at the World Bank, we see significant links between the three main challenges that Kerry outlined (empowering women, enhancing food security, and addressing climate change). Even as my agriculture colleagues focus on the nexus between climate change and food security, there is mounting evidence of a disproportionate burden on women from climate-related risks. 

Jim Yong Kim: Turkey's Decade of Progress

Jim Yong Kim's picture

ISTANBUL — On my first trip to Turkey, I met the country's political leaders, business executives, and civil society organizers — and some of the World Bank Group staff. We have 250 staff in Turkey, of which 200 are in the regional hub of IFC, our private sector arm.

While Turkey faces many challenges, I came away very impressed with many of the nation's accomplishments during the last decade. To learn more, watch this video blog.

The Piracy Money Cycle: ‘Trickle-Round Economics’

Stuart Yikona's picture



Sitting in a safe house, an ocean away, three former pirates reflect on their past lives as ”footsoldiers” aboard  skiffs preparing to attack unsuspecting cargo vessels off the Horn of Africa. Our research team is transfixed by their stories.
 
We listen as they describe to us how they got involved in the piracy business, how much they earned, how they spent their money and, perhaps most interesting, what they know about their ”masters” – the pirate financiers, investors and negotiators.
 
These footsoldiers were merely small fish in a big sea.  They would be sent out to hijack shipping vessels, which would only be returned to the ships’ owners for a hefty ransom.
 
Following research for our report   “Pirate Trails,” studying acts of piracy off the Horn of Africa, we estimate  that between US$339 million and US$413 million was handed over  in ransom payments between April 2005 and December 2012.  The exact amount is very hard to pin down, given the reluctance of the shipping companies and pirates to reveal the cost and rewards of piracy.

Islamic Finance Grabs Headlines in London and Istanbul

Abayomi Alawode's picture



Talk about timing! This week has seen back-to-back initiatives that underscore the growing importance of Islamic finance – and the significant role that the World Bank Group can play in unleashing its potential for financing international development.

This Tuesday, October 29, Prime Minister David Cameron of the United Kingdom announced that the U.K. will become the first non-Muslim country to issue a Sukuk or Islamic bond, with a £200 million issue planned for early 2014. Cameron also announced plans for a new Islamic index on the London Stock Exchange. These initiatives are all part of a grand plan by the U.K. government to turn London into a global capital of Islamic finance.

The very next day, on Wednesday, October 30, World Bank Group President Jim Kim inaugurated the World Bank Global Islamic Finance Center in Istanbul. Envisioned as a knowledge hub for developing Islamic finance globally, the center will conduct research and training as well as provide technical assistance and advisory services to World Bank Group client countries interested in developing Islamic financial institutions and markets.

Notes From the Field: World Bank Projects Undeterred by Trade Developments in Armenia

Miles McKenna's picture

About "Notes From the Field": With this occasional feature, we let World Bank professionals who are conducting interesting trade-related projects around the globe explain some of the challenges and triumphs of their day-to-day work. The views expressed here are personal and should not be attributed to the World Bank. All interviews have been edited for clarity.
Gohar Gyulumyan. Source - World Bank.

The interview below was conducted with Gohar Gyulumyan, a Senior Economist in the World Bank’s Europe and Central Asia regional division of the Poverty Reduction and Economic Management (PREM) network. Her work has been strongly centered on economic development in Armenia, where she is now based in the country office. She spoke with us about her most recent work on trade facilitation and the removal of trade barriers, including what the recent government announcement to join the Eurasian Customs Union may mean for the Bank's work in the country in the future.

Prospects Daily: The US dollar extends depreciation against the euro, Eurozone Retail PMI at five-month low, Brazil’s producer price inflation eases

Global Macroeconomics Team's picture

Some countries are blessed with natural resources, others are cursed. It’s been said that all the blessed ones are alike, they put the resources to good use, improving the people’s welfare in a sustainable manner. And for the cursed? More often than not, they struggle with political violence, especially when ethnic or religious fragmentation and weak institutions are a concern. Not surprisingly, it was Venezuela’s former Development Minister and OPEC Founder Perez Alfonso who christened oil the “Devil’s excrement.” 

If natural resources could be the source of such evil, are there ways of “exorcising” them? Perhaps policymakers could try to prevent or resolve resource-related conflicts by sharing natural resource wealth with opposition groups or directly with the people. Would such a counter spell work?

Social Inclusion and Concentration of Wealth - What the World Bank Gets Right and What It Misses.

Duncan Green's picture

This guest post comes from Ricardo Fuentes-Nieva, Oxfam Head of Research, (@rivefuentes)

No one expects the World Bank to be a simple organization. The intellectual and policy battles that occur inside the Bank are the stuff of wonk legends – I still remember the clashes around the poverty World Development Report in 2000/2001. This is not a criticism. One of the strengths of the World Bank is its dialectic nature – I observed that up close when I was part of the WDR on climate change a few years ago.

Kevin Watkins, the new director of the Overseas Development Institute, reminded me recently that in 1974 Hollis Chenery, then Vice President  and Chief Economist of the World Bank, published a book titled “Redistribution with Growth: An Approach to Policy”. Kevin writes that the central idea of the book was “that the poor should capture a larger share of increments to growth than their current share. That idea has even more resonance today.”

The current battle inside the Bank seems to focus on the issue of skewed distribution of benefits of development and the problems this causes. On the one side there’s a resurgence of the argument that “growth is good for the poor” that argues there is no difference between “shared prosperity” and plain prosperity, as measured by economic growth; on the other hand, the Bank’s Chief Economist retorted that “[o]verall economic growth is important, but the poor should not have to wait until its benefits trickle down to them.”

Media (R)evolutions: China is an Internet Sleeping Giant

Kalliope Kokolis's picture

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.

This week's Media (R)evolutions: China is an Internet Sleeping Giant.


 

The program costs of impact evaluation

Markus Goldstein's picture
I was at a workshop last week where I was moderating a discussion of the practicalities of doing impact evaluations in conflict and post-conflict settings.  One of the program-implementation folks made clear that working with the impact evaluation was a strain -- as she put it this "was pulling our field staff through a keyhole".   Which got me thinking about the costs that we, as impact evaluators, can cause for a program.   
 

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