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Europe and Central Asia

Is there something wrong with us economists?

Maurizio Bussolo's picture


We economists did not see the 2008 global financial crisis coming.

Nor did we anticipate, predict or, at least, warn people about the current wave of anti-trade, anti-immigration, and populism!?

To be fair, some economists were sounding alarms in the lead-up to the financial crisis. And even with the current backlash, although we may have missed the chance to predict it, many had warned that we were understating the impacts of global trade and that distributional tensions - the result of an unequal impact of globalization, technological change, and aging on certain groups - were mounting.

It seems very important – especially when considering the ongoing fierce rhetoric with which some policy proposals and decisions are described – to remain cool-headed, carefully analyze data, stay engaged and support reforms that are backed by solid evidence.

Getting further down the road – Improving the quality of education in Georgia

Nino Kutateladze's picture
Young student in Georgia

Educational change is a complex endeavor for any country – especially in the context of social, economic and political transition, not to mention globalization. And Georgia is no exception.
 
The country’s path toward systematic education reform began in the 1990s and has been long and significant – indeed, it has undergone a paradigm shift since the days of the Soviet system. Today, Georgia’s education curriculum and standards are far more advanced, the allocation of educational resources is more efficient and transparent, and major improvements have been implemented with regard to regulation and management of the education sector overall.
 
Education reforms have had an especially noticeable impact on the financing and governance of Georgia’s educational institutions. The words “corruption” and “nepotism” are no longer used when describing the education sector – a far cry from the early 1990s when they were considered the most pressing issues facing the sector.
 
Today, Georgia’s education sector faces different challenges, however – which have largely to do with the quality of education. Important questions revolve around the relevance of the skills, knowledge and attitudes learned at school: are they fully compatible with the needs of the country’s growing economy and with the competitive global economy of the 21st century? And if not, why not?

Equipping Kazakhstan’s future workforce

Aliya Bizhanova's picture
Kazakhstan has embarked on several policy and institutional initiatives aimed at closing skill gaps and improving work force productivity.
Kazakhstan is embarking on several policy and institutional initiatives aimed at closing skill gaps and improving work force productivity. Photo: Maxim Zolotukhin / World Bank

Do you remember how you felt when you graduated from high-school or college? Like me, you probably experienced some uncertainty and anxiety about what comes next, asking questions such as: “Will I get a job, and if so, where? And am I fully equipped to compete in the workforce?”

Indeed, these are important questions for many graduates entering the labor market in my country, Kazakhstan, where strong economic growth over the last decade has exposed some major skill gaps in the workforce.

Don’t sweat the small stuff – lessons from European courts

Georgia Harley's picture

Last year, we posted a blog – Resolving Minor Disputes Matters Big Time for the Poor – which highlighted how courts can fast-track minor disputes to deliver faster, cheaper and more appropriate justice and how – for the poor and for micro and small businesses – this may be their only path to justice. 

Increasingly, citizens and businesses demand fast-tracking services for small cases and, according to Doing Business data, 138 economies have a small claims procedure of some kind. So courts across the world are eager to learn how to roll out such reforms – either to introduce a fast track procedure or to improve on an existing one.

Modernizing property registration: Four lessons we can learn from Russia

Wael Zakout's picture
 Wael Zakout

I just came back from a trip to Russia. Back in 2006 and 2007, I had traveled to Russia frequently as the lead for the Cadastre Development Project. This time - as a Global Lead for Land and Geospatial at the World Bank - I saw something I did not expect to see.

Privatization of real-estate properties and protecting property rights became two important pillars of transformation following the end of the Soviet era. But, while they were important policy goals in the 1990s, the system did not really function properly: rights were not fully protected and people waited for many months to register property transactions.

Who's heard of "Garbology"?

Meriem Gray's picture

It's as tall as some of Baku’s fanciest buildings, but the only residents here are crows and seagulls. Welcome to the Central Balakhani Sanitary Landfill, the largest rubbish dump in the Greater Baku area. But this is a dump with a difference: it is meticulously organized, as far as garbage disposal sites go.

Recently, the site was nothing but a big, open pile of burning garbage that has been rising from the ground since it was a designated dumping site in 1963. Now, six days a week, an army of trucks delivers 350 tons of municipal solid waste from the homes and offices of Baku’s millions of inhabitants.

Economic growth in Europe: Leaving no region behind

Ede Ijjasz-Vasquez's picture
Economic growth in most countries is driven by a few urban centers that have a high concentration of economic activity. In the EU, 28 capital cities and 228 secondary cities amass 23% of the total population, generate 63% of total GDP, and were responsible for 64% of GDP growth between 2000 and 2013 (EuroStat). These cities are national and regional growth engines. This is of particular importance for lagging region policies, as it indicates that without strong cities, one cannot have strong regions.
 
This importance of cities for regional and national development now serves as a foundation for the dialogue between the World Bank and the European Commission, with respect to the design of the European Regional Development Fund (ERDF) for the 2014-2020 Programming Period. The ERDF is the world’s largest investment program targeting sub-national public infrastructure investments.
 
In this video, World Bank Senior Director Ede Ijjasz-Vasquez and Marcel Ionescu-Heroiu, Senior Urban Development Specialist from Romania Country Office team, discuss the importance of cities in regional and national growth and development, and the role the Bank is playing in the design of the world’s largest sub-national investment fund.

From stadiums to gendarmeries: a new generation of public-payment PPPs in France

François Bergere's picture


The Stade Vélodrome in Marseille, France. Photo Credit: Ben Sutherland via Flickr Creative Commons

In June 2016, nearly 2.5 million enthusiastic spectators gathered in France to attend the Euro 2016 soccer tournament.

Those participating in matches in Lille, Bordeaux, Marseille or Nice would have noticed the brand new facilities and bold architectural design, but most probably didn’t realize these stadiums had been either constructed or modernized with financing through the relatively new “Contrat de partenariat” public-private partnership (PPP) scheme.

Testing, testing: How Kosovo fared in its first international assessment of students

Flora Kelmendi's picture
Results of PISA 2015 reveal a wide performance gap between Kosovar students and their peers in the region.
Photo: Jutta Benzenberg / World Bank



A few weeks ago, education policy makers and data analysts around the world were glued to their laptops when the Organization for Economic Cooperation and Development (OECD) published the results of PISA 2015. More than half a million students – from 72 countries and economies representing 28 million 15 year-olds – had taken the test. PISA, an international assessment administered every three years, measures the skills of students in applying their knowledge of science, reading, and mathematics to real life problems.  PISA is one of the most influential international student assessments, which provides a rich set of information on the systems strengths and weaknesses, supports development of effective policies – and at the same time, benchmarks country's achievements vis a vis other participating countries.

Inspecting Poland's inspections

Maciej Drozd's picture


According to the World Bank’s Doing Business report, Poland ranked 74th globally in the ease of doing business in 2006. It took 10 procedures to incorporate a business in Warsaw, more than 40 steps to pay taxes, close to 200 days to register property, and almost 1,000 days to enforce a contract. A decade later, Poland ranked 24th, higher than the EU average – progress unmatched by any high-income country in terms of ease of doing business.

Poland has been one of the most active and steady reformers of its business environment in the world, but firms are yet to benefit from reforming the country’s burdensome business inspections.

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