Thousands of young entrepreneurs from 43 countries across the world took part in a series of online and onsite dialogues as part of the Road to Lima 2015 activities. The inclusion of youth in such an important process was possible thanks to the World Bank Group and the Young Americas Business Trust (YABT).
Mountain climbers and skiers are witness to major changes in the Andean landscape over the past few decades. The main snow-covered peaks of the Andes have already lost between 30% and 50% of their glaciers. Climate models predict that this massive loss will continue in the coming decades as a result of global warming.
To those European Union citizens who think that the ongoing “refugee invasion” into the EU is quickly becoming economically unsustainable: If the experience of Syria’s neighbors is anything to go by, you may need to think again.
New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's, and will have little resemblance to yesterday's.Tech gurus have been discussing the growing presence of the Internet of Things, the wiring together of all our devices, as well as predicting how it might create “ambient intelligence”. Ambient intelligence refers to electronic environments that are sensitive and responsive to the presence of people. Within these environments, systems could sense what the human inhabitant needs and deliver it without being requested to do. Ambient intelligence is the amalgamation of neural networks, big data, IoT, wearables, and device user interfaces into services that can automate processes and make recommendations to improve the users’ quality of life.
A house could adjust its temperature based on behavioral and physiological data that the owner’s car collected during the commute home. A smartwatch may be a key to an office door, automatically unlocking the room as the wearer approaches. An at-home security system might learn what constitutes ‘normal’ activity and then send an alert to the owner when their dog needs to be let outside. At a grander scaled, sensors can now closely monitor the environmental impact of our cities, collecting details about sewers, air quality, and trash.
The global economy, climate change, infrastructure, the food system – these are just a few of the hot topics that will be addressed in Lima, Peru, in the lead-up to the Annual Meetings of the World Bank Group and International Monetary Fund the week of Oct. 5.
The annual gathering of ministers from 188 countries takes place just two weeks after a historic vote at the United Nations to adopt Sustainable Development Goals. Government ministers will again discuss the SDGs at the Oct. 11 meeting of the Development Committee of the World Bank Group and IMF.
But it is not only Singaporeans who have a vested interest in understanding the causes of their economic growth and vast improvements in quality of life over this past half-century.
For those of us in the field of economic development, who advise and invest in emerging markets and developing economies so they might alleviate poverty and grow equitably and sustainably, we view these ingredients of success as critical to our mission.
If only we could reverse-engineer the magic elixir, the recipe for success could then be applied to other countries still struggling to improve health outcomes and reduce illiteracy, to offer their populations reliable and affordable basic services, good jobs and better lives.
Many schools lack basic facilities in Pakistan’s rural Sindh province. Students cram half-a-dozen to a bench, or sit on the floor. There’s no electricity or running water. Teachers often don’t show up. Children can’t always afford books, pencils and notebooks. The Government of Sindh has tried to help by revitalizing a program that gives annual grants to school management committees to use to improve education.
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This week, I will be joining a panel of women in trade at the World Trade Organization’s Public Forum in Geneva, Switzerland. Along with Lilianne Ploumen, Trade Minister from the Netherlands; Yuejiao Zhang of China’s International Trade and Economic Arbitration Commission; former United States Trade Representative Susan Schwab; and Amina Mohamed, Kenya’s Cabinet Secretary for Foreign Affairs; we will be discussing how to make trade work more inclusively. For me, the focus will be how to make trade work more inclusively for the poor living in developing countries.
This post is part of a series highlighting the key findings of the Global Financial Development Report 2015 | 2016: Long-Term Finance. You can view all the posts in the series at gfdr2015.
The first part of Chapter 2 of the 2015 Global Financial Development Report examines the use of long-term finance from the firm’s perspective. It draws on theoretical and empirical studies to ask why firms would want to use long-term finance and how this use affects their performance. It also relies on the most recent data and evidence to show how use of long-term finance varies across countries and discusses what governments can do to promote the use of long-term finance by firms. Here are the main messages regarding firms’ use of long-term finance:
Firms tend to match the maturity of their assets and liabilities, and thus they often use long-term debt to make long-term investments, such as purchases of fixed assets or equipment. Long-term finance also offers protection from credit supply shocks and having to refinance in bad times. But not all firms need long-term finance. For example, firms with good growth opportunities may prefer short-term debt since they may want to refinance their debt frequently to obtain better loan terms after they have experienced a positive shock.