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Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

Climate Talks Deadlock and the Fiscal Cliff Spark Fresh Interest in Carbon Taxes

This is a joint post with Lawrence MacDonald.

What do the stalled climate talks getting underway in Doha, Qatar, this week and the partisan jousting in Washington over the impending “fiscal cliff” have in common? Not much if you get your information from the mainstream media, which has mostly either ignored the idea or poured cold water on it. Below the surface, however, there is fresh interest in the United States in taxing carbon pollution, including from some unexpected quarters. Such a move can’t come soon enough.

Recognizing and Rewarding the Best Development Professionals

This blog post is co-authored with Martin Ravallion, who has been the Director of the World Bank’s Development Economics Research Group for several years and is currently Acting Chief Economist and Senior Vice President of the Bank. The blog is cross-posted on the World Bank site here.

These days there is a lot of discussion within development organizations and governments across the globe (including the World Bank) about how to assure a greater emphasis on development impact. It would no doubt help if senior management gave stronger verbal signals on the ultimate goals of the institution, and more actively supported staff to attain those goals. But such “low-powered incentives” have been tried before, and the problems seem to persist.

In Tokyo, Kim Should Signal Why IDA Needs to Be Better, Not Bigger

This is a joint post with Stephanie Majerowicz

World Bank presidents have often defined their success in part via ever-larger replenishments for IDA, the Bank’s soft loan window. But at his first ever Bank-Fund annual meetings this weekend in Tokyo, Jim Yong Kim should explain to the gathered illuminati why this is no longer an appropriate metric.

Related Podcast

The Future of IDA

After 52 years, IDA is facing a watershed moment. Drastic changes in both the supply and demand for the World Bank’s cheap long-term loans to governments of poor countries requires rethinking IDA’s purpose, tools, and broad role. In Tokyo, Kim should be sure that shareholders understand that the future of IDA depends, not on its size, but on adapting its mandate and business model to certain new realities:

World Bank President Jim Kim on Climate, Global Public Goods

World Bank president Jim Kim delivered a speech and responded to questions today at Brookings in his first public event since taking the helm at the world’s top development organization on July 1.  He struck me as thoughtful, well-informed, articulate and dedicated to multilateralism and the bank’s mission of reducing global poverty. You can see his speech and the Q&A here.

EBRD Raises the Bar for International Appointments

On Friday evening, the governors of the European Bank for Reconstruction and Development   (EBRD) selected a new president: British civil servant Sir Suma Chakrabarti. The decision is important because the EBRD has recently taken on a major global challenge: assisting the countries of the Arab Spring.  It also matters because the selection process raised the bar for open, transparent and merit-based leadership selection at other international institutions, including the World Bank, IMF and the other regional development banks.

It’s Not an IDA World Anymore

This is a joint post with Christian Meyer.

One of the pressing questions for Jim Kim in the years ahead as the World Bank’s new president is what to do as many countries graduate out of IDA, the bank’s fund for grants and concessional loans to the poorest countries. To generate ideas and possible directions for IDA’s business model, CGD has convened a Future of IDA Working Group. The group’s final report with recommendations is due out in early summer, in time for ample discussion prior to the IDA 16 Mid-Term Review this fall.

New Structural Economics: Industrial Policy 2.0 or Same Old Structuralism?

This is a joint post with Julia Clark and Christian Meyer.

Industrial policy—as many have already commented—is back. (See here, here and here).

The recent wave of post-financial-crisis interventionism has reignited the classic (and often heated) debate about whether governments can in fact nurture economic growth. Previous analysis of the East Asian miracle, and frustration at the perceived failure of certain liberalization policies, has led many to (again) embrace a more activist role for governments in economic development.

A Challenge for Jim Yong Kim, New President of the World Bank—What to Do in Fragile States?

This post is joint with Ross Thuotte

Today, the World Bank announced that Jim Yong Kim will be the institution’s next president. As the dust settles from the leadership selection debate, the focus will necessarily shift to the issues that confront Kim and the world’s leading development institution. One of the most difficult and important questions is: how can the bank more effectively engage in fragile and conflict-affected countries?

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