At the Annual Meetings of the World Bank Group and International Monetary Fund in Bali, Indonesia, the World Bank highlighted the importance of human capital for economic development.
Central to the World Bank’s motivation for the Human Capital Project is evidence that investments in education and health produce better-educated and healthier individuals, as well as faster economic growth and a range of benefits to society more broadly. As part of this effort to accelerate more and better investments in people, the new Human Capital Index provides information on productivity-related human capital outcomes, seeking to answer how much human capital a child born today will acquire by the end of secondary school, given the risks to poor health and education that prevail in the country where she or he was born.
Latin America & Caribbean
While public transit has a relatively high reach across the metropolitan region, it falls short of the growing demand, and historical underinvestment has led to growing motorization. Congestion in Sao Paulo is among the worst in Latin America. In 2013, the productivity losses and pollution associated with congestion costed the metropolitan area close to 8% of its GDP, or over 1% of Brazil’s total GDP.
In the last decades, the World Bank Group has been working closely with São Paulo to boost public transport infrastructure and policies, which has helped the city expand mass transit coverage and develop a more comprehensive approach to urban transport.
The latest wave of disruptive technologies that is reshaping the transport sector –including shared mobility platforms, electric vehicles, and automation— are now providing exciting new ways to build on these gains. If properly integrated into broader public transport policies, these innovations have the potential to reduce the use of single-occupancy vehicles, decrease pollution and carbon emissions, improve traffic flow, and save energy.
Among all these new technologies, let’s take a closer look at shared mobility and on-demand mobility solutions like ride-hailing apps or bikeshare systems, which have been growing rapidly around the world.
Tomas Castelazo | Wikimedia Commons
The Colombian magazine Dinero, one of the most respected economic publications in Latin America, recently published a story about a World Bank study that placed Colombia as the second most competitive country in the world—behind a tie between Great Britain and Australia—to finance infrastructure projects under the public-private partnership model (known as PPPs). This score (83 points out of 100) was also shared by Paraguay and the Philippines.
At first glance, this is a virtuous recognition—at least on paper. However, in daily practice in the Latin American region, like most emerging economies, the administrative complexity of government bodies still presents enormous challenges that demand immediate attention if PPPs are to reach their full potential. Getting this right would truly integrate the PPP model into the economic and social development engine required to compete in a globalized economy.
When you think of Bolivia, which is the first city that comes to mind? La Paz? Santa Cruz or maybe Cochabamba? But what about Trinidad or Tarija? Or perhaps Cobija or Riberalta? These are relatively smaller cities when compared to cities like La Paz or Santa Cruz, but they are growing the fastest in terms of population. Why is that? And how can these smaller, intermediate cities manage growth so that they are sustainable and prepared for the future?
A few years ago, it would have been unlikely for a young Latin American student from a disadvantaged background to be able to access high-quality technical training using state-of-the-art technology and laboratories.
Aracelis owns a hair salon in Santo Domingo. Like all the other owners of the nearly 20,000 small and medium-sized enterprises (SMEs) in the Dominican Republic, she dreams about making her business thrive. SMEs in this Caribbean country employ more than 500,000 people, representing a key driver of economic growth. To make their businesses grow and achieve their goals, all business owners need one crucial ingredient: money.
They play such a pivotal role in addressing global challenges and improving citizen’s lives that
Yet, it is nations that have led the discussions around solutions for a rapidly urbanizing world, leaving the voices of cities to a secondary role.
To highlight and share effective solutions to some of the most pressing challenges of our time, over 30 mayors from around the world will gather at the First Urban 20 Mayors Summit in Buenos Aires, Argentina, October 29-30, 2018. Together, they will provide concrete, experience-based recommendations to the leaders of the G20 countries on what it takes to achieve urban sustainability, inclusion, and prosperity.
As a strategic partner of the summit and the overall Urban 20 (U20) Initiative, the World Bank Group – including the World Bank and the International Finance Corporation (IFC) – is committed to helping global cities bring their expertise, needs, and voices to the center of global discussions on sustainable development. At the summit, the World Bank will present a series of knowledge notes to inform the U20 discussions and promote the exchange of ideas and innovative approaches to complex development issues, including:
- The future of work in cities
- Affordable housing in the world’s cities
- Urban mobility, health and public spaces
- Urban water resilience
In this video, World Bank Senior Director Ede Ijjasz-Vasquez (@Ede_WBG) and Lead Urban Specialist Horacio Terraza (@TerrazaH) talk about the importance of the U20 Initiative, the World Bank’s participation in the First U20 Mayors Summit, and what is next for U20 cities after the summit in Buenos Aires.
Watch the video to learn more. Watch the U20 Mayors Summit live here October 29-30, 2018. Follow @WBG_Cities and hashtag #Urban20 for updates on and from the summit.
Also available in: Español
The World Development Indicators (WDI) is the World Bank’s premier compilation of international statistics on global development. Drawing from officially recognized sources and including national, regional, and global estimates, the WDI provides access to almost 1,600 indicators for 217 economies, with some time series extending back more than 50 years. The database helps users—analysts, policymakers, academics, and all those curious about the state of the world—to find information related to all aspects of development, both current and historical.
An annual World Development Indicators report was available in print or PDF format until last year. This year, we introduce the World Development Indicators website: a new discovery tool and storytelling platform for our data which takes users behind the scenes with information about data coverage, curation, and methodologies. The goal is to provide a useful, easily accessible guide to the database and make it easy for users to discover what type of indicators are available, how they’re collected, and how they can be visualized to analyze development trends.
So, what can you do on the new World Development Indicators website?
1. Explore available indicators by theme
The indicators in the WDI are organized according to six thematic areas: Poverty and Inequality, People, Environment, Economy, States and Markets, and Global Links. Each thematic page provides an overview of the type of data available, a list of featured indicators, and information about widely used methodologies and current data challenges.
- open data
- world development indicators
- Urban Development
- Social Development
- Public Sector and Governance
- Private Sector Development
- Migration and Remittances
- Law and Regulation
- Labor and Social Protection
- Information and Communication Technologies
- Global Economy
- Financial Sector
- Climate Change
- Agriculture and Rural Development
- South Asia
- Middle East and North Africa
- Latin America & Caribbean
- Europe and Central Asia
- East Asia and Pacific
- The World Region
Helena Costa, a smallholder from Sao Tome & Principe, has been investing in her family’s small agribusiness for a decade, wanting it to be more productive, more profitable, and produce quality fruits and vegetable products to supply local and export markets. The quality improvements she’s invested in include food safety practices, shifting to organic production, and planting biofortified crops. However, these food quality improvements are not yet recognized by the market. So, for Helena, improving the nutritional value of her food products is an extra cost that puts her at a disadvantage in relation to her competitors.
Last year in a small village in southern Trinidad, my Nani (the Hindi word for maternal grandmother) – who was a child bride herself at the age of 16 –was able to witness a huge victory for all girls in her country in protecting their childhood from a similar fate. After years of civil society organizations’ campaigns for a change in the law, the movement against child marriage finally bore fruit. On September 29th, Trinidad and Tobago celebrated the one-year anniversary of this critical legal victory achieved with the Proclamation of the Miscellaneous Provisions (Marriage) Act No. 8.
In Trinidad and Tobago, child marriage was previously allowed based on parental consent or judicial authorization under the Marriage Act Chapter 45:01 along with other applicable religious laws. The main legal framework was set in place during the early 20th Century, in an era when many parents saw it unnecessary to send their girls to school. That was the case with my Nani; after being married to start a family at such a young age, she abandoned her education and suffered five miscarriages resulting from early pregnancies.