It is undeniable that progress has been made in reducing extreme poverty over the last quarter century—from 36 percent of the world population in 1990 to an estimated 8.6 percent in 2018—and that…

Philippe H. Le Houérou, Antoinette Sayeh |

Illicit trade in tobacco products undermines global tobacco prevention and control interventions, particularly with respect to tobacco tax policy. From a public health perspective, illicit trade…

Sheila Dutta |

Two years ago,  more than 180 countries gathered in Paris to sign a landmark climate agreement to keep global temperature rise well below 2 degrees Celsius. Tomorrow, on December 12, 2017, exactly…

Ede Ijjasz-Vasquez, Sameh Wahba |

 Photo © Dominic Chavez/World Bank Performance budgeting (PB) has a deep and enduring appeal. What government would not want to allocate resources in a way that fosters efficiency, effectiveness,…

Donald Moynihan, Ivor Beazley |

Another year has passed, and as we do each year-end, here’s a rundown of what content resonated most with you on World Bank social media in 2016. Four World Bank Facebook posts you cared about…

Mario Trubiano |

Understanding macroeconomic volatility part 3Read parts 1 & 2
There’s good evidence that a country’s level of financial development affects the impact of volatility on economic growth,…

Francisco G. Carneiro, Ha Minh Nguyen, Rei Odawara |

Understanding Macroeconomic Volatility: Part 2 The fact is that a government can soften a recession by increasing spending (the counter-cyclical approach) to raise demand and output. If government…

Francisco G. Carneiro, Ha Minh Nguyen, Rei Odawara |

Volatility in financial markets gets wide attention in the public eye. Less noticed is what we in the development world call macroeconomic volatility—faster-than-desired swings in the broad forces…

Francisco G. Carneiro, Ha Minh Nguyen, Rei Odawara |

From the smallest rural villages in Bangladesh to the large, bustling metropolitan centers of Cairo or Istanbul, small and medium enterprises (SMEs) are the lifeblood of Islamic communities around…

Bertrand Badré |