How does my pension fund invest my money? More and more people around the world are asking this question. As the global population ages, it has becoming increasingly important to ensure that pension funds are efficiently and effectively managed so they can deliver a secure income in retirement.
At the same time, countries require more investment in productive areas such as infrastructure, housing and new businesses to continue to grow.
Globally, pension funds have some US$38 trillion in assets under management; the world’s 300 largest pension funds manage around $16 trillion. This ranges from the Government Pension Investment Fund (GPIF) in Japan -- the largest pension fund in the world with $1.3 trillion in assets -- to funds such as the Government Institutions Pension Fund (GIPF) in Namibia which, though smaller in absolute terms (owning $7 billion), constitutes almost 70% of domestic Namibian GDP.
Around 250 million migrants currently live outside their countries of birth, making up approximately 3.5 percent of the world population. Despite the widespread perception of a global migration crisis, this ratio has stayed remarkably stable since the end of the Second World War and lags well behind other major metrics of globalization – international trade, capital flows, tourism etc. A more remarkable statistic is that refugees, at around 15 million, account for 6 percent of the migrant population and only 0.2 percent of world population. In other words, we can fit all refugees in the world in a city with an area of 5000 square kilometers – roughly the size of metropolitan Istanbul or London or Paris – and still have some space left over.
How and when can we use technology to design and implement youth employment programs? We should ask ourselves whether investing in digital solutions is worth the time and money before deciding to include a digital component in our projects, because as much as technology can be transformative and help provide solutions, it is both expensive and time-consuming. Furthermore, we need to make sure we fully understand the problem that we are trying to solve.
In a sector where a proliferation of research seemingly has contributed at least as much to confusion as to progress, the 2018 World Development Report (WDR), Learning to Realize Education’s Promise sheds new light, and points towards fresh, hopeful pathways forward. It is a landmark contribution.
“Education for all” was the seductive promise of the millennium. Yet all too many children are attending school without acquiring even basic literacy or numeracy. Why?
The Syrian conflict has reached the grim milestone of becoming the largest displacement crisis since World War II, with over half of the country’s pre-war population having left their homes since 2011—a particularly sobering statistic as we observe International Migrants Day on December 18, 2017 today.
For many of us, the Syrian crisis brings to mind images of refugee families blocked at European borders and sprawling humanitarian camps. Yet the majority of those fleeing the violence have remained in cities inside Syria and in neighboring countries, in the hopes of reaching safety, and accessing better services and jobs.
—and it is not confined to Syria, but a reality across many countries affected by conflict in the Middle East and beyond.
- Sylvain Chabé-Ferret from the Toulouse School of Economics takes stock in The Empirical Revolution in Economics: Taking Stock and Looking Ahead. He proposes 8 knowledge achievements of the empirical revolution in economics, 4 methodological advances, 3 major challenges, and 3 proposed solutions.
Sue Dynarski from University of Michigan has a talk on "how to communicate with policymakers": "All communication is basically the same. Good communication is concise and it's to the point and it's concrete. And that's true for research writing... It's true for teaching... It's true if you're speaking to the public or to the media... It's just that people differ in how much they really have to listen to you." Policy makers don't have to listen to you. "Speaking in plain English is super important." She recommends Strunk and White's The Elements of Style. I do, too.
Matthew Jukes from RTI proposes a "context-mechanisms-outcomes approach" to doing and reporting impact evaluations in his piece "Learning more from impact evaluations: Contexts, mechanisms and theories of literacy instruction interventions," in order to get the most out of evaluaitons, and he gives examples from a recent literacy intervention in Kenya.
Over at the IFPRI blog, Tracy Brown reports on impact evaluations of "food-assisted maternal and child health and nutrition" programs in Guatemala and Burundi. In Burundi, "the largest impact on stunting was experienced by those who received food assistance throughout the entire period of the first 1,000 days, from conception to a child’s second birthday." (Blog 1, blog 2, with blog 3 coming soon here.)
Alice Evans's 4 Questions podcast has featured several Development Impact-relevant stories in the last couple of weeks, including Pam Jakiela and Owen Ozier discussing "the impact of conflict on people's preferences" for risk, Michael Woolcock on the value of mixed methods in understanding "what works," and me talking about an impact evaluation to improve health care management in Nigeria as well as about the World Development Report on Education.
At Oxford's conference at the Center for the Study of African Economies, DFID Chief Economist Rachel Glennerster -- who has worked extensively in policy and in academia – discussed the differences as she sees them, summarized below. You can watch her full talk here.
Is artificial intelligence the future for economic development? Earlier this month, a group of World Bank staff, academic researchers, and technology company representatives convened at a conference in San Francisco to discuss new advances in artificial intelligence. One of the takeaways for Bank staff was how AI technologies might be useful for Bank operations and clients. Below you’ll find a full round-up of all the papers and research-in-progress that was presented. All slides that were shared publicly are linked here, as well as papers or other relevant sites.