Most manufacturing activities use inputs from the financial and business services sectors. But these services sectors also compete for resources with manufacturing activities, provoking concerns about de-industrialization -- financial services in industrial countries like the United States and the United Kingdom, and business services in developing countries like India and the Philippines.
... See More + This paper examines the implications of services development for the export performance of manufacturing sectors. It develops a methodology to quantify the indirect role of services in international trade in goods and constructs new measures of revealed comparative advantage based on domestic value added in gross exports. The paper shows that the development of financial and business services enhances the revealed comparative advantage of manufacturing sectors that use these services intensively but not that of other manufacturing sectors. It also finds that a country can partially overcome the handicap of an underdeveloped domestic services sector by relying more on imported services inputs. Thus, lower services trade barriers in developing countries can help to promote their manufacturing exports.
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Policy Research Working Paper WPS8450 MAY 22, 2018
This is a statement by Sigrid Kaag, Minister of Foreign Trade and Development Cooperation at the ninety seventh meetings of the Development Committee held on April 21, 2018.
... See More + The World Bank Group (WBG) is uniquely placed to drive progress on the 2030 development agenda, supporting the achievement of the Sustainable Development Goals (SDGs), the Paris Agreement on Climate Change and the Addis Ababa Action Agenda on Financing for Development. Our constituency recognizes the WBG as a key partner in providing resources, mobilizing funds, convening actors and sharing knowledge to catalyze global action for development. To our constituency, implementation of the forward look remains an important, ongoing exercise for the WBG to strengthen its support in delivering on the 2030 development agenda. The WBG is translating the forward Look objectives into policy targets and results, while continuing to report on implementation progress through semi-annual updates to Governors. The WBG will hereby remain an important partner in translating the ambitions of the 2030 agenda into a success for development and international cooperation. The WBG as a key player in building resilience and supporting recovery and appreciate its valuable role in areas such as the Caribbean, hit-hard by hurricanes, as well as in fragile and conflict-affected states in Africa, some of which hit by droughts.
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This is a statement by H.E. Ahmed Bin Mohammed al-Khalifa, Minister of Finance, Kingdom of Bahrain at the ninety seventh meeting of the Development Committee held on April 21, 2018.
... See More + He discusses on capital package; systematic approach to creating markets; implementation of International Development Association (IDA) 18; World Bank's increased operations in disaster risk management (DRM); and implementation of the World Bank Group’s (WBG’s) gender strategy.
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This is a statement by Angel Gurría, Secretary-General at the ninety seventh meeting of the Development Committee held on April 21, 2018. She discusses on following topics: maximizing finance for development through measurement, mobilization, and partnerships and achieving the sustainable development goals (SDGs) will require a significant scaling-up of resources;The Organisation for Economic Co-operation and Development (OECD) and World Bank are jointly working to strengthen the quantifiable links between foreign direct investment (FDI) and development through a new Quality FDI Toolkit.
... See More + The Toolkit will include measures of the impacts of (FDI) on growth (e.g., economic diversification), inclusiveness (e.g., geographic concentration), and sustainability (e.g., green infrastructure); creating tax systems that deliver for the SDGs can be challenging for many developing countries; The OECD provides a core monitoring and accountability function for providers, recipients and the greater international development community on Official Development Assistance (ODA) volumes, allocation and effectiveness; the OECD recently released a landmark report, Private Philanthropy for Development, which documents the important contribution of private philanthropy to the global development agenda; the OECD is setting up a Centre on Philanthropy to bring together projects and researchers in this area, enhance data collection on philanthropic flows for development, and provide research and analysis on global trends and the impact of philanthropy for development; to address these challenges, the OECD is working on transition finance to understand the dynamics of external flows (concessional, non-concessional, private, philanthropy and remittances) —as well as domestic resources — to developing countries as they move along the development continuum; and broader macro-fiscal and development finance trends mean that ODA flows and policies will need to be balanced and increasingly work in partnership.
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This is a statement by Hon. Mathias Cormann, Minister of Finance and Leader of the government in the Senate, Australia at the ninety seventh meeting of the Development Committee held on April 21, 2018.
... See More + He discussed on the following topics: (i) sustainable financing for sustainable development; (ii) mobilizing private finance; and (iii) small island developing states. He concluded by calling on the World Bank Group (WBG), in concert with the International Monetary Fund (IMF), to work with governments to improve domestic resource mobilization, strengthen fiscal frameworks and improve debt management and transparency.
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This is a statement by Rt. Hon. Penny Mordaunt, Secretary of State for International Development, and Rt. Hon. Philip Hammond, Chancellor of the Exchequer for United Kingdom, at the ninety seventh meeting of the Development Committee held on April 21, 2018.
... See More + He discusses about the World Bank Group (WBG) core part of the response, given its scale, reach, expertise and ability to leverage finance. The UK supports a bigger and better World Bank Group. He focuses on the following five areas; (i) maximizing the share of WBG support provided to its poorest clients, who are most in need of it, while tailoring its offer to its wealthier clients; (ii) enhancing the WBG role in responding to global challenges, including reducing fragility and preventing conflict, preparing for and responding to crises (including protracted refugee crises, pandemics and natural disasters) and tackling climate change; (iii) mobilizing private finance for development and ensuring that its efforts are focused on where it can make the biggest difference and where there is the biggest development impact; (iv) greater efficiency, effectiveness and agility, including through efficiency savings, pay restraint, balance sheet optimization, making systems more agile, empowering staff and putting more of them on the ground so they can meet and adapt to changing needs; and ensuring no one is left behind with the potential contribution, and the rights, of women, girls, and disabled people fulfilled.
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