World Bank Development Economics

📢 JUST LAUNCHED: What is the "middle-income trap" and how can countries escape it? https://lnkd.in/eJq_X3Rw A new study by The World Bank provides the first comprehensive roadmap to help developing countries overcome obstacles that hinder high-quality growth. Drawing on lessons from the past 50 years, the World Development Report 2024 finds that as countries grow wealthier, they often hit a “trap” at about 10% of annual U.S. GDP per person—the equivalent of $8,000 today. ➡️ Discover how a strategy that merges investment, infusion, and innovation can be decisive in the battle for global economic prosperity.

The World Bank's Development Impact team (#DIME) debuted #ImpactAI, still under development, at the Google Impact Summit, as part of the #GenAI Accelerator. Learn how #ImpactAI will improve access to evidence for policymakers ➡ https://lnkd.in/ewJXgtJX

📺 LIVE Sept 12 & 13: https://lnkd.in/e_9w5QHM International trade has historically been a force for development and poverty reduction. However, it is increasingly viewed as contributing to inequality while posing a growing environmental threat. The Trade and Uneven Development Conference, jointly hosted by the World Bank and the editorial team from the Journal of International Economics, will discuss the role of #internationaltrade on development outcomes and their sustainability and inclusivity.

Today, the “middle-income trap” continues to burden over 100 countries worldwide, according to the 2024 World Development Report. But what exactly is the “middle-income trap”? And, more importantly, how can countries overcome it — or avoid the trap altogether? The World Economic Forum summarizes the #WDR2024's findings, with input from World Bank Chief Economist Indermit Gill. https://lnkd.in/g6J2iKZJ

Today, The World Bank’s Development Impact (#DiME) is debuting #ImpactAI at Google’s Impact Summit Demo Day as part of the inaugural Google Accelerator: Generative AI cohort. Learn how DiME is making development research more accessible with #generativeAI.     ➡ Keep up with ImpactAI news:  https://rb.gy/0nrkqj    ➡ Check out DIME AI’s projects: https://rb.gy/5mtywu    ➡ Discover technologies reshaping development with #GoogleOrg: https://rb.gy/mwyhdz    #AcceleratedWithGoogle

Small states are particularly vulnerable to economic shocks caused by natural disasters and global recessions. Our latest analysis highlights how these economies are disproportionately impacted, with fiscal balances and debt ratios suffering more severely than in other emerging markets and developing economies (EMDEs). According to The World Bank Economists Sam Hill and Jeetendra Khadan, by modernizing tax structures, improving expenditure efficiency, and embracing digital innovations, small states can better manage economic volatility. However, many still lack the necessary fiscal frameworks, such as fiscal rules, councils, and sovereign wealth funds. ➡ Discover how these tools can be implemented to safeguard against future risks: https://lnkd.in/dJU6FXZ4 #FiscalResilience #SmallStates #EconomicSustainability

International borders influence the flow of people between countries, but internal boundaries like provincial borders can also affect migration patterns, particularly when coupled with regional disparities in economic opportunities. In a new working paper, John Giles and Ren Mu review evidence on the impacts of migration on the welfare of individuals and households in rural communities in China. Overall, the paper documents increases in both household income and consumption per capita associated with migration and notes that the opportunity to diversify household earnings through migrant work lowers the risk of falling into poverty. The authors also highlight future concerns arising from family separation with out-migration, with particular attention to the well-being of left-behind children and elderly. Read more of the findings here ➡ https://lnkd.in/deS8XfWQ

📌The program for the 3rd Research Conference on Forced Displacement is now live❗    👉 Don't miss out – Register today! https://lnkd.in/dW2qxVQW   Centered around academic presentations, this conference aims to offer participants the opportunity to explore cutting-edge research on forced displacement, featuring a diverse lineup of experts and insightful discussions.    📅19-21 September 2024  📍Abidjan, Côte d’Ivoire and Online    🔗 Check out the program and more details: https://lnkd.in/ddxJ9pzN   #ForcedDisplacement #ResearchConference #HumanitarianResearch

Export growth in Viet Nam is not just about numbers; it's about people https://lnkd.in/dNjiB_EV Thanks to its strategic export-driven growth, the country labor market is evolving with significant reductions in income inequality and inactivity. In our new blog, Deeksha Kokas, Gladys Lopez Acevedo and Ha Vu delve into Viet Nam's export-led growth and offer valuable lessons for developing economies. The piece highlights the importance of supply chain linkages and targeted interventions for inclusive growth while navigating the nuanced impacts on wages, employment, and gender wage gap. Don't miss out.

🌍 Emerging markets & developing economies face dual challenges of poverty & climate change: https://lnkd.in/d8g_Bqvw Among lower-income countries with high financial risks, nearly 70% are not Strengthening financial systems is crucial to protect our economies & our planet. The The World Bank #FinanceProsperity report urges countries to:  ✅ Strengthen bank buffers  ✅ Implement financial safety nets  ✅ Enhance crisis management mechanisms Explore key data in the full report.