Syndicate content

United States

G7 recognizes need for deep emissions cuts. Now for action

Rachel Kyte's picture
Arne Hoel/World Bank

Bangladesh has set an ambitious goal to become a middle-income country by 2021—the year it celebrates the 50th anniversary of its independence. Equally important to achieving the coveted middle income status is making sure that all Bangladeshis share in the accelerated growth required to achieve this goal, particularly the poor. The Government of Bangladesh’s Vision 2021 and the associated Perspective Plan 2010-2021 lay out a series of development targets that must be achieved if Bangladesh wants to transform itself to a middle income country. Among the core targets used to monitor the progress towards this objective is attaining a poverty head-count rate of 14 percent by 2021. Assuming population growth continues to decline at the same rate as during the 2000-2010 period, achieving this poverty target implies lifting approximately 15 million people out of poverty in the next 8 years. Can Bangladesh achieve this target? Not necessarily so. A simple continuation of the policies and programs that have proven successful in delivering steady growth and poverty reduction in the past decade will not be sufficient to achieve the poverty target set for 2021.

Getting to 100% renewable: dream or reality?

Oliver Knight's picture
© Abbie Trayler-Smith Panos Pictures UK Department for International Development via Creative Commons
​Attending the Future of Energy Summit last month, an annual event hosted by Bloomberg New Energy Finance, I was struck – for the second year running – by the rapid pace of cost reductions and innovation happening across the clean energy spectrum. With the news that a recent solar photovoltaics tender in Dubai obtained bids at less than US6c/kWh, to major investments in electricity storage and electric vehicles, to increased interest in demand-side management at the grid and consumer level, the message is clear: clean energy has most likely reached a crucial tipping point that will start to suck in increasing levels of investment. Some commentators also noted the opportune timing: with capital investment in upstream oil production sharply curtailed due to falling global prices, there is potentially a lot of financial capital looking for a home.
 
But perhaps one of the more interesting messages was the one coming from progressive regulators here in the U.S. The head of the California Public Utilities Commission, Michael Picker, noted that with renewable energy already supplying 40% of the state’s electricity a few days last year, the target for 50% renewables by 2030 is “not really a challenge”. Perhaps more interesting, he seemed very relaxed on reaching 100% renewables at some point in the future, on the back of strategic generation placement, transfers to neighboring states, and embedded storage. And note that we’re not talking about large hydropower here, which supplies between 6-12% of California’s electricity and is unlikely to increase.

Establish a national PPP Unit to support bottom-up infrastructure investment

Robert Puentes's picture
Photo: flickr/cmh2315fl
By any measure, the United States is a laggard in terms of public-private partnership (PPP) projects. Between 1985 and 2011, there were 377 transportation PPP infrastructure projects funded in the U.S. Those projects comprised just nine percent of the total nominal costs of infrastructure PPPs around the world. Europe leads the infrastructure PPP market, concentrating more than 45 percent of the nominal value of all PPPs.

There appear to be several discrete, but related, reasons why the U.S. has been slow to pursue PPPs in comparison with European and Asian countries:
  • In some cases, there is a lack of consensus, institutional capacity, and expertise to properly promote the benefits and costs of PPP deals. In Pittsburgh, for example, an arrangement to lease the city’s parking operations to a private entity collapsed when the city council voted against the transaction.
  • Deals are getting more complex, politically heated, and cumbersome as some stretch across jurisdictions and even international borders, as is the case with the New International Trade Crossing intended to connect Detroit to Windsor, Ontario.
  • With state and municipal finances under strain, the public sector is trying to transfer greater responsibility to the private sector, including in the arena of project financing.
In this regard, the U.S. Government Accountability Office recently noted that while the U.S. has done much to promote the benefits of PPPs, it needs to do more to assist states and metro areas in thinking through potential costs and trade-offs, as well as assessing national interests.

Thinking globally: Local governments leading the way to a global climate solution

Thomas Kerr's picture
Principals have to deal with hundreds of students and their personal and academic challenges. (Photo: Sarah Farhat​ / World Bank)


All schools are different. I’m not referring to the building, the number of students or teaching practices. I’m talking about the school’s spirit. When you walk into a good school, the building is often well-organized and clean. The students look busy and happy. You don’t see strict discipline; ideally, you see organized chaos.

When you see a well-functioning school, most likely, there is a good principal behind it. A leader who sets a vision for the school and sets clear objectives. Someone who creates the space that fosters teachers’ professional and personal development, and encourages students’ personal growth, creativity, and their own journey of discovery.

Running a school efficiently is a very difficult challenge. A principal must be a pedagogical leader to dozens of teachers: observing them in the classroom, evaluating institutional performance, and helping them get the professional development opportunities they need. Principals have to deal with hundreds of students and their personal and academic challenges. They need to respond to parents, each with their own expectations for the school. And principals also need to contend with the administrative and financial burdens imposed by the bureaucracy.  

Food for thought

Kalyan Panja's picture
Webcast Replay



Appetizer of grasshoppers, seaweed soup, and as the main course, man-made burgers on the grill. Been twisting the nose? Yet we should get used to similar menus. According to UN estimates, to feed the 2.5 billion additional people, according to some forecasts, who will populate the Earth in 2050, we will need to double world food production, reduce waste, and experiment with food alternatives.

Snowmelt, climate change and urban pollution—new perspectives

Tracy Hart's picture
Image by U.S. National Climate Assessment via Washington PostIt's been a snowy winter—not only here in Washington D.C., but also in places I travel, namely Jerusalem and Amman. The past week, the snowmelt runoff into Rock Creek in D.C. has been a sight to watch. It's also been a teachable moment for my daughter: we've talked about how snowmelt contributes to surface water flows.

Actually I talk, and she goes "okay, okay" looking out the window.

She and I have learned a few new facts to share: one is the linkage of irregular precipitation associated with global climate change.

Chris Mooney, the environment and climate change writer for the Washington Post, recently wrote a great article explaining why more snow is another result of climate change. D.C. is on the south border of the NE of the United States, where, as you can see from the map, (provided by the US National Climate Assessment), extreme rain/snow events have increased dramatically. Similarly, in Jerusalem three weeks ago, the snow came with sleet, blueberry-size hailstones (see below) and lightning.

Vulnerable yet invaluable: Protecting our patrimony by safeguarding art, artifacts, archaeology and assets

Christopher Colford's picture

The spectacular recovery of a long-missing painting by Pablo Picasso – a canvas that had been stolen more than a decade ago, in a daring museum theft in Paris – offers a vivid reminder of the illicit worldwide trade in stolen assets, artworks and archeological artifacts. Preventing the cross-border smuggling of stolen money, art and natural treasures poses a stern challenge to law-enforcement authorities. Yet the vigilance of the international network of corruption-hunters and asset-trackers can often result in a triumph, as illustrated by the case of the now-recovered Picasso.

The art world hailed last week’s revelation that “La Coiffeuse,” painted by Picasso in 1911, had been intercepted in December by U.S. Customs and Border Protection officials. The painting was identified during its shipment to a climate-controlled warehouse in Long Island City, New York, and it was then seized while it was in transit at Port Newark, New Jersey. The work – unseen since its 2001 theft from the Centre Georges Pompidou in Paris – had been shipped on December 17 from Belgium to the United States in an innocent-looking FedEx container, adorned with a holiday-season tag marked, “Joyeux Noel.” Its shipping registration papers falsely described it as an “art craft/toy” valued at $37. The legal process that began last week in New York should soon have the canvas on its way back to France, where it is owned by the nation.

The Picasso had been assigned an estimated value of about 2 million euros at the time of its theft in 2001 – suggesting how lucrative the underground market for stolen art may be. Despite any such theoretical valuation, however, such cultural riches are truly beyond price: They belong to humanity’s shared patrimony, and thus their theft is an immeasurable crime against history.



"La Coiffeuse" by Pablo Picasso. Photograph via the U.S. Department of Justice.

The sudden recovery of the Picasso has reminded art-watchers – and law-enforcement officials – that the 25th anniversary of a still-baffling crime is fast approaching: the March 18, 1990 theft of $500 million in artworks from the Isabella Stewart Gardner Museum in Boston. That theft deprived the world of, among other masterpieces, Rembrandt’s “Christ in the Storm on the Sea of Galilee,” painted in 1633. Despite occasional rumors that some of the stolen works might be available somewhere on the global black market, that crime remains unsolved – and the criminals, part of the vast international network of art thieves and smugglers, remain at large.

Police agencies and global asset-trackers certainly face a herculean task. International plunder takes many forms – from the “grand-scale corruption” that infects fraudulent banking transactions to the looting of countries’ wealth by dictators and kleptocrats. Cracking down on the illicit flows of funds worldwide – which are sometimes abetted by corruptible accountants and pliant lawyers, who help steer loot to safe havens and stash money in offshore tax-dodging accounts – requires persistent detective work and meticulous forensic accounting. In the case of stolen art treasures, the art world must appeal to the conscience of connoisseurs and dealers – and must rely on the integrity of curators at museums large and small, who surely know better than to traffic in property whose provenance might be even slightly suspicious.

Units like the Stolen Assets Recovery (StAR) Initiative – a joint effort by the World Bank and the United Nations Office of Drugs and Crime – patiently promote cooperation among transnational, national and local law-enforcement bodies. That task requires a commitment for the long haul, as they steadily pursue capacity-building among governments and private-sector watchdog agencies that are determined to build their anticorruption capabilities. Closer legal, technical and financial coordination sans frontières is an indispensable tool in hunting down and repatriating looted lucre.

As in the case of the now-recovered Picasso, the effort to protect priceless artworks sometimes ends in a law-enforcement success. In a just-opened art exhibition in Washington, art-watchers can now get an up-close look at an inspiring example of how a strong national commitment to fighting crime – backed by methodical investigative work and tenacious legal processes – can achieve enduring results.

The Embassy of Italy last week opened an exhibition of irreplaceable artworks that might have forever vanished onto the international black market, had it not been for the work of one of the country's specialized military units: the Guardia di Finanza, which since 1916 has protected Italy from smuggling, drug trafficking and financial crimes. Its specialized art-investigations team, the Gruppo Tutela Patrimonio Archeologico, has successfully prevented the theft of many works of art, some of which can now be seen (by appointment) at the Embassy on Whitehaven Street. Treasures such as these are integral to Italy’s culture and the West's heritage.

In opening the exhibition, Ambassador Claudio Bisogniero noted that “the trafficking of archaeological works is a growing phenomenon that in recent years has spiraled upwards at an alarming rate” – with Italy ranking “first among the countries [that are] victims of this crime. . . . These treasures belong to Italy. But they also belong to European identity and, by extension, to all mankind.”

With the Picasso canvas soon headed back to Paris, and with the recovered art and archaeological treasures now being celebrated at the Embassy, arts-watchers can breathe easier, knowing that these masterworks are secure. But protecting the global patrimony requires the constant vigilance of corruption-hunters and asset-trackers – like the Guardia di Finanza, the StAR unit and their law-enforcement allies worldwide – who stand guard against the plunder of the vulnerable yet invaluable assets that comprise the common heritage of humanity.


Vaccines Save Lives!

Patricio V. Marquez's picture
 World Trade Organization


The World Bank Group has often argued that delivering outcomes in WTO negotiations around the core issues of the Doha Round is critically important for developing countries. Let’s take one example: with three-quarters of the world’s extreme poor living in rural areas, fulfilling the Doha Round mandate on agriculture could make a real contribution to the Bank Group’s goal of ending extreme poverty by 2030.
 
But recent news reports on global trade talks suggest that WTO Members are finding it hard to develop a shared vision on key issues and are unlikely to deliver significant progress at the upcoming WTO Ministerial Conference in Nairobi from December 15-18. Efforts are being made to produce outcomes on important issues like export competition in agriculture but large gaps remain only one week before the Ministerial Conference.
 
This continued impasse on the Doha Round is indeed a significant missed opportunity, but should this be cause for despair about the future of global trade governance? We don’t think so. There have been developments in the global trade agenda that are worthy of our attention, which should provide some hope in the lead-up to the Nairobi conference that with political will, it is possible to move forward. Here are five of these developments:  
 

Future Development Forecasts 2015

Shanta Devarajan's picture

Despite their mixed record last year, Future Development's bloggers once again offer their predictions for 2015.  Eight themes emerge.
 
1. Global growth and trade. The US economy will strengthen far above predictions. Together with lower oil prices and a better business climate in emerging markets, this will create substantial positive spill-overs, including to the smaller export-oriented Asian economies, boosting the growth of their manufactured exports well above recent trends. The US will look to open new free trade agreements in Asia—India may try to join—and seek opportunities to do the same in Africa. Meanwhile, Germany will face increasing resistance to the free-trade agreement with America (TTIP), just as Angela Merkel celebrates her 10th year in office.

How Well did We Forecast 2014?

Shanta Devarajan's picture

A year ago, we polled Future Development bloggers for predictions on the coming year (2014).  Looking back, we find that many unforeseen (and possibly unforeseeable) events had major economic impact. 

We missed the developments in Ukraine and Russia, the spread of the Islamic State in Iraq, the outbreak of Ebola in West Africa, the collapse in oil prices and their attendant effects on economic growth.  At the same time, we picked the winner of the soccer World Cup, and got many of the technology trends right. Perhaps economists are better at predicting non-economic events.

Here’s the scorecard on the seven predictions made:
 


Pages