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Developement

The Business of Knowledge

Kaushik Basu's picture

A large part of the task of economic development in the world can be achieved by carrying existing knowledge from where it is available to where it is not. The creation of new knowledge is of course important, but when one looks around at the large areas of unwarranted darkness in the world, it becomes evident that there is a lot to be gained simply by knowledge arbitrage. But the reason why this does not happen, large knowledge gaps persist, and we fail to deliver even when we have the knowhow is that knowledge arbitrage is not as easy as it may appear at first sight.

We have the knowledge needed to eradicate polio from the face of the earth. Years of research gave us the vaccine, first in injectable form and later as oral medicine. By 1962 this was licensed. Yet even now well over a thousand children contract polio each year. This is the reason why we are shocked when we get news of nurses and doctors participating in vaccination campaigns being killed. The most recent was the case of nine women killed in Nigeria by gunmen suspected to be part of a radical Islamist sect. Similar incidents have occurred in Pakistan and Afghanistan. And there is no getting away from the fact that, in many places, terrorists succeed in carrying out these attacks because of pre-existing local suspicion about the polio vaccine.

Dispatch From Sweden: Development Talks, Gender Equality, and the Nobels

Jim Yong Kim's picture

STOCKHOLM, Sweden -- I made a three-day trip to Sweden this week, meeting senior government officials in finance and development; addressing the Bank's Nordic-Baltic Governors and the Bank's Advisory Council on Gender and Development; and attending the Nobel Prize ceremony.

In this video, I reflect on the visit, the impact of the Nordic countries on global development, and the importance of promoting gender equality in the World Bank Group's work.

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Postcard from Tokyo

Merrell Tuck-Primdahl's picture

Whether Jobs in the Middle East and North Africa and the freedom to prosper or the ‘What Will It Take to End Poverty’ campaign being championed by Jim Yong Kim, or the views of Japanese union representatives who think it’s more important to put jobs before debt, the priority for many here at the Tokyo Annual Meetings has been to put people first. Japanese officials were part of a dialogue in Sendai and the country’s Comprehensive Strategy for Rebirth was held up as the type of approach that holds lessons for other countries grappling with disaster. Jim Yong Kim at his Annual Meetings press conference noted that, if Haiti had used the kind of sophisticated early warning system that Japan had in place ahead of their great quake, thousands of lives could have been spared.

Friday Roundup: Skilled migrants, participatory development, hospital reform, and measuring decentralization

Swati Mishra's picture

This week four new policy research working papers were published covering performance of skilled migrants in US, induced participatory projects, Vietnam’s hospital autonomization policy, and worldwide indicators on localization and decentralization.

Global Economy and Development Roundup

Swati Mishra's picture

In the recently released Global Economic Prospects June 2012, World Bank experts warned of long period of volatility. Resurgence of the Euro Area tensions had eroded economic gains of first 4 months of 2012, said the report.  And as the leaders of the 27 European Nations convened in Brussels yesterday to tackle the crisis, it was labeled as the “last chance” summit. The outcome: Up All Night, But Consensus Finally Reached, says a Time.com story. According to the story, published today, “Yet, despite what were described as tense and grinding negotiations, decisions announced early Friday morning appear to represent important steps towards the survival of the embattled euro zone—and in both the short- and long-term context of the crisis.” This much needed move comes at a crucial point and will hopefully have a positive impact on developing countries. However, a lot remains to be done. Following is a sampling of some interesting research and analysis by World Bank as well as others highlighting issues of current import to global economy and development.

Inequality of What?

Francisco Ferreira's picture

More than ten years ago Ronald Inglehart, of the University of Michigan, and his team at the World Values Survey asked thousands of respondents around the world to rate their views, on a scale of 1 to 10, on whether they felt inequality in their countries should go up or down.  The way they phrased the question was that 1 corresponded to full agreement with the statement that “incomes should be made more equal”, whereas 10 stood for “we need larger income differences as incentives for individual effort”.

G20 Needs to Focus More on Growth

Zia Qureshi's picture

This is the central message of a report World Bank staff prepared as an input to the G20 Los Cabos summit held from June 18-19. The summit comes at a precarious time for the world economy. The Euro Area is facing a relapse into recession, with potentially large losses of output with global repercussions if current risks to stability and growth are not addressed forcefully. Recovery in other advanced economies is weak and faltering. Growth is also slowing in emerging economies that have been the drivers of global growth in recent years. Against this background, the Bank report, entitled Restoring and Sustaining Growth, conveys the following main messages:

To measure poverty over time, we need to do more!

Luc Christiaensen's picture

The latest World Bank estimates suggest that the percentage of the developing world’s population living below $1.25 a day declined from 52% in 1981 to 22% in 2008. While this indicates that there is still a long way to go in poverty reduction, the progress is encouraging. Moreover, we now also appear to be in a much better position to make such statements. The numbers above, by my colleagues at the Department Research Group, are based on over 850 household surveys for nearly 130 developing countries, representing 90% of the population of the developing world. By contrast, they used only 22 surveys for 22 countries when the first such estimates were reported in the 1990 World Development Report.

Counting Financial Inclusion and Debating its Merits

Leora Klapper's picture

Shedding light on and engaging in debate regarding financial inclusion is important and we can now be more informed on the topic thanks to the release last month of the Global Financial Inclusion Database, or Global Findex. With this in mind, I want to react from my point of view as supervisor of the Global Findex project to a recent post by Milford Bateman on The Guardian’s Poverty Matters blog.

Global Findex makes a valuable contribution to our development work, because it means that now researchers and policymakers no longer have to rely on a patchwork of incompatible household surveys and aggregated central bank data for a comprehensive view of the financial inclusion landscape.

It also means debates about financial inclusion can be rooted in more solid facts.

Ask Your Questions As We Live Blog From the ABCDE Next Monday and Tuesday

Claudia Sepúlveda's picture

We will be live blogging and Tweeting during the keynote presentations on both days of the World Bank's Annual Bank Conference on Development Economics (ABCDE) this coming Monday and Tuesday (May 7-8). 

Hernando de Soto of the Institute for Liberty and Democracy (Peru) will be speaking on Monday @ 9am (EST) on 'Live, Dead, and Fictitious Capital' and Timothy Besley of the London School of Economics (UK) will be speaking on Tuseday @ 9am (EST) on 'Transparency and Accountability: Interpreting the Evidence.'

We're keen on your receiving your questions, so be sure to send them our way through the World Bank Live platform.

Please also visit the ABCDE 2012 Website for the full agenda, working papers, and other materials. Also, follow us on Twitter @ABCDEwb and use #wblive or #ABCDE to join the live discussion.

Look forward to seeing you online!


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