For two and a half years, more than 4,000 people have worked to build Line 1 of the Quito Metro, a mass transit system that extends 22 kilometers across the city.
With its 15 modern stations, ranging from Quitumbe in the south to El Labrador in the north, this infrastructure project is changing the urban landscape of the Ecuadorian capital and will become the backbone of the city’s integrated transport system. How is it coming along?
Carl Fuerstenberg, one of the most prominent German bankers of his generation, famously said more than a century ago that shareholders are irrational and impertinent. They are irrational, he said, because they entrust their money to people they don’t control, and impertinent because they expect to receive dividends as a reward for their foolishness.
This dynamic lies at the very heart of the corporate governance challenges faced by many companies and is especially acute in Latin America.
Last January, I decided to start signing my referee reports and wrote a blog post about it. Partly because it felt like something I should do and partly because it was a commitment device to try to useful but critical referee reports without sounding mean. Economics suffers from many ills that it has been trying to address, and while mean and overreaching referee reports are not at the top of the list, they are something everyone has experienced and complained about at least once…So, now that I have been signing referee reports for about 15 months, how has it gone?
The inspiration for this campaign was our recent work Women Business and the Law 2019: A Decade of Reform.The study introduces a new index that scores 187 economies in 8 areas, to understand how women’s employment and entrepreneurship are affected by legal discrimination, and how this impacts women’s participation in the labor market.
This blog is part of a series examining women’s economic empowerment in South Asia. Starting today on International Women's Day and over the next few weeks, we will be exploring successful interventions, research, and experience to improve gender equality across the region.
Meet Fazeela Dharmaratne from Sri Lanka.
Her story, like that of millions of other women in South Asia, is one of struggle between family and work and a story worth telling as we mark International Women’s Day.
Unlike too many of her female peers, Fazeela was able to reinvent herself professionally.
As a young woman, straight out of school, she joined a bank in Colombo as a banking assistant. In 17 years, she climbed up the corporate ladder to become regional manager—a position she later quit to care for her children.
Unfazed, Fazeela started her own small home-based daycare business in 2012, initially serving only 4-5 children. Today, Fazeela is the director of the CeeBees pre-school and childcare centers serving several corporate clients in Colombo.
Editor's note: This blog post is part of a series for the 'Bureaucracy Lab', a World Bank initiative to better understand the world's public officials.
It is a well-known, if unacceptable, fact that women globally earn significantly less than men for doing the same work. In the United States, women famously earn “79 cents to the dollar a man earns”, and similar disparities hold across developed and developing countries for wage labor (WDR, 2012).
In the past, a company in the Dominican Republic facing financial difficulties, such as falling behind on tax payments and having outstanding debts with suppliers and cashflow problems, usually faced bankruptcy, with low rates of recovery.
As an international organization tasked with the resolution of investment disputes—diversity is, in fundamental respects, embedded in ICSID's DNA. The International Centre for Settlement of Investment Disputes (ICSID) has 154-member states, encompassing the majority of the world's countries. ICSID cases involve investors and states from every region in the world and concern all economic sectors—from poultry farms in Turkmenistan to pharmaceuticals in Canada.
It is therefore imperative that the people who argue, decide and administer cases reflect this global makeup. And measurable progress is being made towards greater diversity and inclusiveness, thanks to the concerted efforts of the ICSID Secretariat, government officials and legal professionals operating in the field of international investment dispute settlement.