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March 2016

2011: Galloping

Jim Anderson's picture
In our review of the 25 years since Mongolia joined the World Bank, 2011 stands out as a year of recovery, and that is an understatement.  By the beginning of 2011 the economy had stabilized and our economists returned to a quarterly format for publication of the economic updates.  The January Economic Update noted the strengthening of the economy:  For the year as a whole, real GDP grew 17.5 percent, the fastest rate for any country in the world. And while many mineral exporters were riding the wave of high commodity prices, few matched Mongolia’s investment boom, with FDI more than quadrupling in only a few years.  A 45 second animation showing FDI and GDP for extractives exporting countries makes clear how remarkable Mongolia’s second, synchronous, wave of FDI really was.
 
FDI and GDP growth over time
FDI and GDP growth for six extractives exporting countries from 1990 to 2013 as animated by the World Bank’s Macrostats app.

5 things we learned about violent extremism

Alys Willman's picture
Credit: www.weforum.org

The threat of violent extremism formed a common thread through many discussions at the Fragility Forum this month. While certainly not limited to fragile settings, these areas experience a disproportionate burden of attacks and exploitation by extremist groups. If we are going to prevent further violence, our efforts have to focus there.

UN Deputy Secretary General Jan Eliasson noted this in his opening remarks, saying, “We must get better at stamping out the flames before they pose an existential threat. We must do more prevention and post-conflict work.”
If we are ready to get serious about prevention and response to violent extremism, we need a better understanding of why people and communities support extremist groups, and why they don’t. During the Forum, the panel “Violent Extremism: What we know, and what we don’t” helped shed light on some critical empirical questions. 

Here are five things we learned:

Quote of the week: Michael Buerk

Sina Odugbemi's picture

Michael Buerk, British Museum, London, 2012“As a superannuated war reporter myself I’m a little sniffy about celebs pratting around among the world’s victims. I hate it when feather-bedded thesps pay flying visits to the desperate to parade their bleeding hearts and trumpet their infantile ideas on what ‘must be done’.”


- Michael Buerk, on “infantile” celebrities who lecture the public on world issues. He wrote this statement in a Radio Times interview he conducted with former soap star turned war reporter Ross Kemp. Buerk is an English journalist and newsreader, whose reporting of the Ethiopian famine on 23 October 1984 inspired the Band Aid charity record and, subsequently, the Live Aid concert.  He later anchored the BBC Nine O'Clock News and BBC News at Ten throughout the 1990s and has hosted BBC Radio 4's The Moral Maze since 1990.

Five forest figures for the International Day of Forests

Tariq Khokhar's picture


This is part of a series of blogs focussed on the Sustainable Development Goals and data from the 2016 Edition of World Development Indicators.


 

Click here to view interactive version of map

A recent study based on satellite data estimates that there are 3 trillion trees on Earth - that’s over 400 trees per person. That also means that there are more trees on Earth than stars in the Milky Way.

Forests are key to climate, water, health and livelihoods, and to mark the International Day of Forests, we’ve taken a look at the upcoming World Development Indicators 2016, and highlighted some trends in how forest cover has changed in the last 25 years.

Psychometrics as a tool to improve screening and access to credit

Miriam Bruhn's picture

Small and medium enterprises (SMEs) often face financial constraints because they lack audited statements and other information about their operations, and as a result, financial institutions have difficulties assessing the risk of lending to them. Studies have shown that information sharing, credit bureaus, and credit scoring can increasing credit to SMEs, but not all countries have well-developed credit bureaus that gather the level of information needed to build a reliable credit-scoring model. For example, the average credit bureau in Latin America and the Caribbean complies with only half of best practices and covers only 40.5 percent of the adult population (Doing Business Report 2016).

2010: Continued support in the midst of snow and smoke

Badamchimeg Dondog's picture
As we continue with our stories of 25 years in 25 days, today we bring 2010 under the spotlight. My very first thought of 2010 brings me back to sunny and hot Brisbane, Australia where I studied at the time for a graduate degree. In early January that year, after completing my first year of studies, I decided to come home for a quick visit just in time for the Lunar New Year celebrations. As I stood at the Brisbane International Airport, still in a light T-shirt, I did not realize how much I was underestimating the warnings my parents had given me, repeatedly, regarding the snow and smoke situation back home. Coming from the heat and humidity down under, when I landed in UB I experienced a 60 degree Celsius temperature difference as that winter was exceptionally cold with heavy snow and sharp temperature drops (below minus 40 degrees Celsius) in most parts of the country. And the smoke made me continuously wonder if I had forgotten so quickly how bad it was though I had left for Australia only a year earlier. Many others had similar reflections, including Mr. Arshad Sayed, the World Bank Country Manager for Mongolia at the time, who blogged about the terrible dzud we experienced that winter in rural parts of the country and the air pollution situation in the nation’s capital.

2009: Responding to the global financial crisis; estimating the costs of air pollution

Jim Anderson's picture

Continuing our series celebrating the 25 years since Mongolia became a member of the World Bank, today we look at 2009.  The global financial crisis that began in the US the previous year hit Mongolia hard in late 2008 and through 2009, as commodity prices collapsed and economic growth turned negative for the first time since 1993.  The World Bank switched from a quarterly to a monthly format for its economic updates to stay abreast of the rapidly deteriorating situation—the April 2009 edition illustrated how sharply the commodities markets had reversed in only one year.
 

Helping Mongolians become savvier in managing their personal finances

Siegfried Zottel's picture
 

Did you know that low-income Mongolians are better at managing daily finances than higher income earners, although those with better incomes are more likely to make provisions for the future?

These were the findings of a comprehensive demand-side assessment on financial capability in Mongolia which the World Bank Group carried out in 2013.

These findings make sense.  Poor people – those with low and irregular incomes – devote a lot of time to thinking about how to stretch their money to put food on the table while being able to cover other daily spending needs.  They tend to have surprisingly sophisticated financial lives despite having limited income, the Portfolios of the Poor found.


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