East Asia and Pacific
Photo: Creativa Images | Shutterstock
Critically constrained public resources on the one hand, and huge existing infrastructure needs for basic services on the other, make private participation in emerging markets and developing economies (EMDEs) not just critical, but in fact, imperative. Crowding in private finance is essential to spur economic development and meet the twin goals of shared prosperity and elimination of extreme poverty, as well as to achieve the Sustainable Development Goals.
The Private Participation in Infrastructure (PPI) Database, with data spanning over almost 27 years, has become a powerful tool and measure for gauging the level of private investment in infrastructure in EMDEs.
Amid the recent rise of populism and protectionism, the labor market implications of trade have increasingly moved to the center of political and economic debates. Autor et al (2013), in an influential paper, find that U.S. regions that are more exposed to import-competing manufacturing industries witnessed larger declines in manufacturing employment and wages.
On Thursday, April 5, the World Bank-Singapore Infrastructure Finance Summit will take place – the eighth time that the World Bank, the Government of Singapore, and the Financial Times are partnering to hold this annual event.
The Summit has gone from strength to strength each year, and helped pave the way for the many infrastructure-themed events across the reigon. This year, as Singapore’s chairing of ASEAN brings its ministerial meetings to the city-state, finance ministers from across Southeast Asia will join the Summit, and their presence underscores the importance they attach to sustainable infrastructure development.
In the infrastructure domain, “price” is a prism with many façades.
An infrastructure economist sees price in graphic terms: the coordinates of a point where demand and supply curves intersect.
For governments, price relates to budget lines, as part of public spending to develop infrastructure networks.
Utility managers view price as a decision: the amount to charge for each unit of service in order to recover the costs of production and (possibly) earn a profit.
But for most people, price comes with simple question: how much is the tariff I have to pay for the service, and can I afford it?
My admiration for hummingbirds began in my native Brazil. The hummingbird’s flight patterns may seem a mystery as they shift from one flower to the next. But hummingbirds are immensely purposeful, agile, and proficient pollinators – among the most hard-working members of many thriving ecosystems. And they can be found from Alaska to the southernmost regions of South America.
The Bank’s efforts to transfer knowledge, germinate ideas, and catalyze change sometimes put me in mind of the hard-working hummingbird. My visit to the World Bank’s Global Knowledge and Research Hub in Malaysia last year is a case in point. As I learned about the Bank’s partnership with Malaysia and the origins of the Hub, I was struck by the broader relevance for our work with upper middle-income countries, and our efforts to share global lessons and leverage knowledge to maximize financing for development. The visit sparked three main observations.
In most rural communities in Papua New Guinea (PNG), a daily routine for women and girls involves collecting clean drinking water for their families. Whether it means a strenuous walk down a steep hill in the highlands or walking for hours during the dry season to the nearest water source, this daily task is familiar to a lot of us.
A few months ago, I travelled to Bialla, a small district town in West New Britain Province, in the north-eastern end of PNG after the launch of the new Water & Sanitation Development Project.
Driving into the township, it’s obvious why access to clean tapped water is so important: the main road was filled with women, and children of school age, carrying huge water containers heading to the nearest river.
I met 13-year-old Rendela, who told me about Tiraua river that it was about an hour out of town. Like most young girls in Bialla, Rendela is responsible for collecting water for her family.
by sharpening our understanding of it, hearing directly from those affected by it and thinking collectively through what we must do to overcome it.
We all agreed, acting on a renewed understanding of fragility and what it means to vulnerable communities represents an urgent and collective responsibility. We’ve all seen the suffering. In places like Syria, Myanmar, Yemen and South Sudan, the loss of life, dignity and economic prosperity is rife.
Among the 29 countries and economies of the East Asia and Pacific region, one finds some of the world’s most successful education systems. Seven out of the top 10 highest average scorers on internationally comparable tests such as PISA and TIMSS are from the region, with Japan, Republic of Korea, Singapore, and Hong Kong (China) consistently among the best.
But, more significantly, one also finds that great performance is not limited to school systems in the region’s high-income countries. School systems in middle-income Vietnam and China (specifically the provinces of Beijing, Shanghai, Jiangsu, and Guangdong) score better than the average OECD country, despite having much lower GDP per capita. What is more, scores from both China and Vietnam show that poor students are not being left behind. Students from the second-lowest income quintile score better than the average OECD student, and even the very poorest test takers outscore students from some wealthy countries. As the graph below shows, however, other countries in the region have yet to achieve similar results.
“Indonesia’s future is at stake”, states Camilla Holmemo in her opening address at the Early Childhood Development Policy Conference, held in July 2017 in Jakarta. The program leader for human development, poverty and social development of the World Bank in Indonesia rallies the audience by highlighting the lack of access to early childhood education and development (ECED) services and the high incidence of child stunting in Indonesia.
Despite the country’s middle-income status, one in three children under five are stunted, the fifth highest rate in the world. For these children, the likelihood of becoming productive citizens is significantly hampered – unless we do something about it now.