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Vigorous ideas for ‘Powering Up Growth’ through energetic policy reforms

Christopher Colford's picture
In an era of chronically slow economic growth, what steps can policymakers take to help jump-start productivity, spur employment and build long-term wealth? Recognizing that the private sector must create about 90 percent of the economy’s future jobs, which policy reforms can most effectively encourage private-sector investment?

Questions like those – focusing on the private sector as the principal driver of growth, with deft public policy as an indispensable catalyst – inspired a dialogue among some of the developing world’s most experienced policymakers at a major forum, “Powering Up Growth: Ideas for Beating the Slowdown,” during the recent Spring Meetings of the World Bank Group and the International Monetary Fund. All four government Ministers on the panel – from both commodity-exporting and  -importing countries – voiced a sense of urgency, describing their efforts to attract private investment to spur job creation, amid a global economy that seems destined for prolonged weakness.

Before the policymakers ascended the Preston Auditorium stage, sobering updates had arrived from the Bank and the Fund: The Bank’s latest forecast for global growth has been lowered from 2.9 percent to 2.5 percent – with the caveat that this latest forecast is subject to further downside risks. That downward revision is in parallel with the Fund’s similar projection, which sees global growth this year in the neighborhood of just 3 percent.

Policymakers worldwide are eager to explore any option to try to lay the foundation for an eventual return to a long-term economic expansion. It was clear that the panelists in the “Powering Up Growth” event – which was convened by Jan Walliser, the Vice President for the Bank Group’s practice group on Equitable Growth, Finance and Institutions (EFI) and organized by the Global Practice for Macroeconomics and Fiscal Management (MFM) – were focused on long-term structural changes that can energize the private sector’s ability to drive growth.
Powering Up Growth: Ideas for Beating the Slowdown

The panelists – from Bolivia, Pakistan, Angola and Ukraine – represented countries from different regions and at various levels of economic development, but they shared a determination to jump-start growth through reforms that will strengthen the private sector’s long-term confidence. The Ministers, at times, seemed to envision opportunities, not just for short-term structural adjustment of their priorities or medium-term structural reform of their policy farmeworks, but for far-reaching structural transformation of their economies and societies.

New time series of global subnational population estimates launched

Dereje Ketema Wolde's picture

We've just launched a new, pilot global subnational population database featuring time series population estimates for 75 countries at the first-level administrative divisions (provinces, states, or regions). The database has time series data that spans 15 years (2000-2014), with total population numbers for each area and the shares relative to total national population estimates.

What's new about this?
The common data source of population estimates for most countries is a census, often conducted every 10 years or so. Many countries publish annual estimates between census years, but few publish similar population estimates for subnational regions. This database aims to provide intercensal estimates using a standard methodology.

Implementing stronger and more credible student assessment systems

Alan Ruby's picture
Students in a READ-financed Mozambique program take their exams. Photo by Jem Heinzel Nelson

Ed: This guest post is by Alan Ruby, senior scholar at the University of Pennsylvania’s Alliance for Higher Education and Democracy who also serves as a consultant to the World Bank, an adviser to  the Nazarbayev University in Kazakhstan, the Head Foundation in Singapore, and the American Institutes of Research. 

Nearly 50 years ago, 40 classmates and I spent the last two weeks of November taking our higher school certificate examinations. In a cavernous, hot, and poorly ventilated hall, we sat in widely-spaced rows, writing essays, solving mathematics and science problems, and answering multiple-choice questions. 

Part of the #Youthbiz movement? Share your story!

Valerie Lorena's picture

Also available in: Français | العربية

A boat trip from Port Elizabeth to Kingstown, in the Caribbean country of Saint Vincent and the Grenadines, is a one-hour trip that locals take several times a day. It was during one of these journeys that the boat of Kamara Jerome, a young Vincentian fisherman, ran out of gas six miles from Bequia City in what is termed locally as the "Bequia Channel." While waiting for help with strong wind gusts and the sun on his head, the idea of developing a boat that would run with wind and solar energy was born. Soon after, the idea became a prototype; a boat using green technology was on the water making 20-year-old Jerome a winner of international innovation competitions and a role model to other Caribbean youth. 
In Mexico, young engineer Daniel Gomez runs a multimillion bio-diesel company originally conceived as a research project for his high school chemistry class. Gomez and his partners - Guillermo Colunga, Antonio Lopez, and Mauricio Pareja - founded SOLBEN (Solutions in bio-energy in Spanish) in their early twenties. 
Although Daniel and Kamara have different educational backgrounds, they do share one important skill, the ability to identify a problem, develop an innovative solution, and take it to the market. In other words, being an entrepreneur, an alternative to be economically active, that seems to work and not only for a few.

Fossil fuel subsidy reform: An idea whose time has come

Marianne Fay's picture
spring meetings 2015

Fossil fuel subsidies are bad economic policy, bad social policy and bad for the environment. Yet, many countries have some type of fossil fuel subsidy. In 2013, those subsidies added up to nearly $550 billion.

Why are so many countries spending so much on what is simply bad policy? And how can they reform these subsidies? This is what a panel of government ministers who have implemented reforms debated during the IMF/World Bank Group Spring Meetings in an event organized by ESMAP and co-hosted by the World Bank Group, the United States, and Friends of Fossil Fuel Subsidy Reform.

The panelists – representing countries as different as Angola, Egypt, Honduras, and Ukraine – described the countries’ varied experiences, but out of these varied experiences, four common messages emerged:

Identifying poor-rich gaps in accessing maternal health care

Haruna Kashiwase's picture

The most recent data show significant strides in reducing maternal mortality at the national level over the past 20 years.  Improvements in access to maternal health care, especially in skilled birth assistance, have contributed to the reduction of maternal mortality. 

While these improvements are impressive, the national level data often mask inequalities in skilled birth assistance within countries. There may be gaps within a country, for example, where wealthy women might have better access than women from poor households. According to the World Health Organization, "The high number of maternal deaths in some areas of the world reflects inequities in access to health services, and highlights the gap between rich and poor."

Lives on the line: reducing under-five child mortality rates in Africa

Dereje Ketema Wolde's picture
As countries all across Africa recognize International Day of the African Child today, I thought it would be a timely opportunity to blog about the progress of under-five child mortality rates over the past two decades.  But first, some data for us to understand the big picture:
  • On a global level, the rate of under-five child mortality has been cut in half, from 90 deaths per 1,000 live births in 1990 to 48 per 1,000 in 2012.  The estimated annual number of under-five deaths has fallen from 12.6 million to 6.6 million over the same period.
  • Since 1990, 216 million children worldwide have died before their fifth birthday — more than the current total population of Brazil, the world's fifth most populous country.
  • Disparities between children in the high-income and low-income countries have narrowed, but many gaps still remain.  Case in point: In Luxembourg, the under-five mortality rate is just 2 deaths per 1,000 live births; in Sierra Leone, it is 182 deaths per 1,000 births.

As we stand a year away from the Millennium Development Goal (MDG) 4 – which aims to reduce the global under-five child mortality rate by two-thirds between 1990 and 2015 – the pace of reduction would have needed to quadruple in 2013-2015 to achieve this goal, according to the United Nations Children's Fund's (UNICEF's) Committed to Child Survival: A Promised Renewed – Progress Report 2013.

A closer look at regional rates
Now let's take a look at the regional and country level data by viewing the World Development Indicators (WDI) 2014 and the indicator under-five mortality rate. The WDI also features a short progress report on MDG 4, which complements the detailed analysis of the World Bank Group's Global Monitoring Report.  This report uses the same methodology to assess whether countries are on track or off track to meet the 2015 targets.

Sub-Saharan Africa (SSA), where one in ten children die before the age of five, faces the biggest challenges in achieving MDG 4, followed by South Asia.  The SSA region reduced its child mortality rate by 45% during 1990 to 2012, the only region to reduce its under-five mortality rate by less than half during this time.  SSA also lags behind other regions in its pace of decline in the total number of under-five deaths.

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The Angola paradox: Development aid in a "wealthy" country

Thomas Dickinson's picture

Preparing a recent project mission to Angola, I came across the country’s latest accomplishment: a gigantic new refinery to consolidate its national oil industry. Looking at that massive structure, I was hit with a sudden thought: if they can pull off such an enormous and complex feat of engineering, what do they need me for?

Measuring Development Success in Difficult Environments

Laura Ralston's picture

The challenge of moving from conflict and fragility to resilience and growth is immense. More than half of the countries counted as low income have experienced conflict in the last decade. Twenty per cent of countries emerging from civil conflict return to violence in one year and 40% in five years.

While the use and production of reliable evidence has become more common in much of the international development debate and in many developing countries, these inroads are less prevalent in fragile and conflict-affected situations (FCS). Programming and policy making in countries affected by conflict and prone to conflict is often void of rigorous evidence or reliable data. It is easy to argue, and many do, that it is impossible to conduct rigorous evaluations of programs in conflict-affected states. However, in spite of the very real challenges in these environments, such evaluations have been conducted and have contributed valuable evidence for future programming, for example in Afghanistan, the DRC, Colombia, northern Nigeria and Liberia.

My unit Center for Conflict Security and Development, (CCSD) is teaming up with the Department of Impact Evaluation (DIME), as well as the International Initiative for Impact Evaluation (3ie), and Innovations for Poverty Action (IPA), in a series of activities to enhance the evidence base on development approaches to peace- and state-building challenges. A first goal is to scope out where our evidence base is thinnest: what are the programs and interventions that remain least tested, but have theories of change suggesting great potential? We are hoping to take stock of what we and other donor institutions have been doing in this area of development, and map this into what we have learnt and what we most need to learn more about. USIP, USAID, IRC as well as leading academics in this field and IEG, are kindly helping in this endeavor, and we hope to be able to share some initial findings at our fragility forum later this year.

The King Baudouin African Development Prize

Kristina Nwazota's picture
The King Baudouin Foundation has just announced that it is accepting nominations for its 2014-2015 African Development Prize. The Prize awards innovative initiatives that help local communities take development into their own hands and that improve quality of life. The Prize is worth 150.000 Euros and is awarded every other year. Previous winners include women's rights advocate Bogaletch Gebre of Ethiopia and Dr.