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Cross-border spillover effects of the G20 financial regulatory reforms: results from a pilot survey

Erik Feyen's picture
Volcán de Fuego in Guatemala, one of Central America’s most active volcanos, spews ash and lava flows in January 2018, just 70 kilometers west of Guatemala City. Image credit: NASA
Volcán de Fuego in Guatemala, one of Central America’s most active volcanos, spews ash and lava flows in January 2018, just 70 kilometers west of Guatemala City. Image credit: NASA

We live in an age of compounding uncertainty. The unpredictable impacts of climate change and the rapid urbanization of societies is increasing the complexity, difficulty, and necessity of making sound decisions when faced with numerous options. This uncertainty is acute with respect to natural disasters – for example, predicting hurricane intensity or locating the next big earthquake remain challenging tasks despite advances in science and monitoring tools.
 
The challenge of anticipating and communicating the risk of volcanic eruptions to communities requires complex decision-making. Ecuador’s Cotopaxi Volcano and Indonesia’s Mount Agung are recent examples where the warning signs were present (small earthquakes, increasing gas emissions, and more), yet an eruption came much later than expected. Volcanic eruptions are therefore a double-edged sword that often creates a decision-making dilemma. While signs of volcanic activity can provide adequate time for preparation and evacuation, the very same signs can also create conditions of extreme uncertainty, which can be exacerbated by piecemeal communication around eruption events.
 
So, what have we learned from recent experiences on the challenges of communicating volcanic risk? 

Farewell 2017; Hello to More and Better Infrastructure in 2018

Jordan Z. Schwartz's picture
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 which shape an economy. Think investment, government spending, interest rates, foreign trade and the like.

There are three key questions to analyze: how do these forces interact, what is their effect on overall growth, and what policies are best to follow? All this is of more than academic interest: macroeconomic volatility can bring substantial hardships to millions of people

Coming together is the way forward: Maximizing Finance for Development

Hartwig Schafer's picture


In a video shown at the UN Climate Leadership Summit on Sept. 23, 2014, German Chancellor Angela Merkel talks about her country's support for carbon pricing and how it can drive low-carbon growth. 

Four policy approaches to support job creation through Global Value Chains

Ruchira Kumar's picture
 Maria Fleischmann / World Bank

Mexico created over 60,000 jobs between 1993 to 2000 upgrading the apparel value chain from assembly to direct distribution to customers.  (Photo: Maria Fleischmann / World Bank)

As we discussed in our previous post, Global Value Chains can lead to the creation of more, inclusive and better jobs. GVCs can be a win-win for firms that create better jobs while they enjoy greater efficiency, productivity, and profits. However, there is a potential trade-off between increasing competitiveness and job creation, and the exact nature of positive labor market outcomes depends on several parameters. Given the cross-border (and, therefore, multiple jurisdictive) nature of GVCs, national policy choices to strengthen positive labor outcomes are limited. However, national governments can make policy decisions to facilitate GVC participation that is commensurate with positive labor market outcomes.

Global Value Chains: a way to create more, better and inclusive jobs

Ruchira Kumar's picture
Photo by Jonathan Ernst / World Bank

Global Value Chains are a win-win for firms that enjoy greater efficiency, productivity, and profits while they create better jobs (Photo by Jonathan Ernst / World Bank)
 
Global Value Chains (GVC) are significant vehicles of job creation, employing around 17 million people worldwide and carrying a share of 60 percent of global trade. As globalization increases, GVCs are becoming more relevant in international production, trade, and investments. And Global Value Chains also have an important effect on job creation, and these jobs usually have higher wages and better working conditions. Global Value Chains can become a win-win for firms, which enjoy greater efficiency, productivity, and profits while they create better jobs. Here are some revealing facts about the potential of GVCs to create more and better jobs.

The care economy: A powerful entry point for increasing female employment

Eliana Carranza's picture
English translation of the text message.
English translation of the text message that the government sends to citizens to in an attempt to prevent corruption.

Albanian citizens who recently received treatment at a state-run hospital are likely to receive a text message that reads something like this: “Hi, I am Bledi Cuci, Minister of State responsible for anti-corruption. Our records indicate that you recently received care in a state hospital.

Could you kindly tell me if you were asked to pay a bribe? Reply is free. Thank you for your time.


The SMS campaign, supported by The World Bank and implemented by the Ministry of State for Local Issues and Anti-Corruption, was launched on March 9, 2015.

As of early June, it has reached more than 33,500 citizens in a country of three million. About 20 percent have responded, reporting many service delivery problems.

The doctors are always late and the corruption continues as always. Without giving away money, no one takes care of you,” read one response. Others complain of lack of cleanliness or the absence of medicines: “No, they didn't ask for bribe, but we had to buy the drugs outside of the hospital because they didn't have any.” 

Three policies to promote a more inclusive future of work

Luc Christiaensen's picture
 Arne Hoel/World Bank
Even if the technologies are available, businesses and individuals often lack the necessary skills to use them. And these skill gaps exist at multiple levels. 
(Photo: Arne Hoel/World Bank)

As we explained in previous posts, digital technologies present both threats and opportunities for the employment agenda in developing countries. Yet many countries lack the means to take full advantage of these opportunities, because of limited access to technology, a lack of skills, and the absence of a broad enabling environment, the so-called “analog” complements.


The Future of Work: The number of jobs is not the only thing at stake

Siddhartha Raja's picture
Photo of computer lab. Technology is a great job-creating machine. But will these new jobs be better or worse?
Technology is a great job-creating machine. But will these new jobs be better or worse? (Photo: John Hogg / World Bank)

Most of the discussion about the future of work focuses on how many jobs robots will take from humans. But this is just a (small) part of the change to come. As we explained in our previous blog, technology is reshaping the world of work not only by automating production but also by facilitating connectivity and innovation. The changes that digital technology is introducing in the price of capital versus labor, the costs of transacting, the economies of scale, and the speed of innovation bring significant effects in three dimensions: the quantity, the quality, and the distribution of jobs. Let’s see them in detail.

Can technology reshape the world of work for developing countries?

Luc Christiaensen's picture

Last week, the World Bank's Europe & Central Asia region published Diversified Development, a highly readable report written by Indermitt Gill, Ivailo Izvorski, Willem van Eeghen, and Donato De Rosa. The subtitle, making the most of natural resources in Eurasia, indicates that the report focuses on countries that are currently highly specialized as a result of their comparative advantage in natural resources. It addresses the question to what extent these countries have to diversify to ensure long-term prosperity. Clearer than ever before, the authors show that that is the wrong question to ask. That question gets the causality backwards. A diversified economy can result from successful development, but forced diversification is unlikely to lead to successful development.


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