This paper reviews the factors that should guide the design of private funded pensions to create a complete pension system alongside a notional defined contribution—or public—component.
... Exibir mais + It argues that a mix of public and private pensions is the most effective option to deliver the best combination of pension outcomes. Pension design should start with a vision for five core outcomes: coverage, adequacy, sustainability, efficiency, and security. Thinking through these outcomes helps guide choices for market structure, benefit type, contributions, investment strategy, and other factors. As well as technical design, the governance, scale, and expertise of pension funds are critical for good investment and other outcomes. Regulators and supervisors should also focus on these outcomes and then work out how best to mitigate the risks to achieving them over time. These issues are relevant in relation to any public pillar, but notional defined contribution (NDC) systems bring clarity and transparency to policy makers in the benefit formula. The NDC payout formula can offer insights for how to improve the payout options in funded pillars. The clarity on the NDC formula also means that the joint distribution of public and private pensions can be modeled. This is important because the precise NDC formula may have implications for optimal investment strategies for private pensions, given, for example, the negative correlation between real per capita GDP growth and equity market returns over long periods.
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Documento de trabalho sobre pesquisa de políticas WPS8420 APR 30, 2018
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.
... Exibir mais + 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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Relatório da Diretoria Executiva 125719 APR 21, 2018
Afghanistan has made strong gains in health outcomes, health service coverage andhealth systems performance since 2003, with a particular impact on women andchildren's health.
... Exibir mais + All told, Afghanistan has made notable progress towards achieving the Millennium Development Goal (MDG) targets for improving maternal (MDG5) and child health (MDG4). According to United Nations estimates, maternal mortality rates (MMR) declined from 1,100 to 396 deaths per 100,000 live births from 2000 to 2015 (Alkema and others 2016), and under-5 child mortality rates (U5MR) fell 34 percent (from 137 to 91 deaths per 1,000 live births). Newborn mortality rates (NMR) dropped 32 percent (from 53 to 36 deaths per 1,000 live births) (You and others 2016). Nevertheless, it is important to emphasize that in absolute terms there is considerable room for progress.
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Ratings for the Health Sector Development Support Project for Burundi were as follows: outcome was satisfactory, Bank performance was satisfactory, and monitoring and evaluation quality was substantial.
... Exibir mais + Some lessons learned included: health reforms such as performance-based financing (PBF) based reforms benefit from a period of piloting well designed and well-implemented schemes at a small scale prior to scaling up, as was done in Rwanda, and in Burundi. Linking PBF reforms to country commitment to finance health through similar methods was successful. The design of the financial agreement between the Government of Burundi (GoB) and the World Bank (WB) for this project can be considered good practice. Linking funds for selective free health care (FHC) for pregnant women and children under five years of age and funds available for PBF based health reforms was also a winning formula. The ownership of the program at the local level supported resilience and rapid recovery after the crisis. Solid third -party counter-verification of internal ex-ante verification mechanisms is required and has been championed by this project. Systematic community client satisfaction surveys, like done in this project, provide good health intelligence and can be made operational to include in the quality index for performance measures. Decentralizing health financing to the frontlines, while enhancing autonomy through well-funded PBF approaches over a significant period, and especially when baselines are very low, can have dramatic positive results on health system performance. Autonomy in the management of human resources and breaking monopolies in the procurement of drugs and medical consumables are crucial preconditions for PBF to work.
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Conclusão da Implementação e Relatórios sobre Resultados ICR4308 FEB 21, 2018
Since the collapse of the Soviet Union, Belarus has pursued a gradual transition path characterized by slow opening of the economy to the private sector and a limited reform of the governance system of state-owned enterprises (SOEs).
... Exibir mais + This systematic country diagnostic (SCD) demonstrates that there is a window of opportunity to proactively lay down foundations towards a new vision - a competitive, inclusive, and dynamic Belarus. At the core of this new vision is managing a transition to a new growth path that is sustainable and inclusive. The SCD has identified seven key priorities for achieving further progress towards the twin goals in Belarus. The report is structured as follows: chapter one describes trends in poverty reduction and in shared prosperity and examines the conjecture that economic growth was the main determinant of improvements in income distribution. Chapter two analyzes the sustainability of economic growth and income distribution gains. Chapter three sketches a vision of socio-economic development for Belarus in the next decade and formulates three pathways towards the sustainable and inclusive growth of an internationally competitive economy. Chapter four describes priority actions to achieve that vision.
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This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities.
... Exibir mais + All the coding is made freely available. The tool is illustrated for India's DC National Pension System. The aim is not to present the perfect model for India, but to show how the tool works so that policy makers and regulators can see its potential advantages and develop it for their own uses. It generates scenarios for future assets and income dependent on user-defined and changeable assumptions for asset returns, contributions, wages, years in the labor force, and annuity prices, among other parameters. Assumptions can be tailored to different countries and user determined scenarios. Many extensions could be developed, which will be the subject of future work. The international context is highlighted through similar modeling by regulators and pension funds in other jurisdictions. Some of these are more complex or complete than the results in this paper, but by explaining the initial model and making the coding freely available, the authors provide a powerful yet simple and low-cost tool to be adopted and adapted.
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Documento de trabalho sobre pesquisa de políticas WPS8304 JAN 17, 2018
The development objective of the Anhui Aged Care System Demonstration Project for China is to support establishment and management of diversified aged care service system of Anhui Provincial Government.
... Exibir mais + Some of the negative measures and mitigation measures include : (i) some aged-care institutions worry that the poor geographical location of some sites will be not suitable for living of the aged once the standard community sites are constructed; (ii) the implementation of project may exert impacts on other residents of communities due to the occupation over the areas that they can have activities previously, and the impact will be negative if no corresponding compensations are made; (iii) to provide non-agricultural jobs for female in project area; (iv) to alleviate the household labor burden of women in the project area; (v) recruit and train new employees for Community-based and home-based care service for the aged; (vi) organize and train volunteers for nursing homes; (vii) do well in the transition work during the implementation and strive for the support of staff and the aged at welfare home; and(viii) establish a participation-based monitoring and evaluation mechanism.
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The development objective of the Anhui Aged Care System Demonstration Project for China is to support establishment and management of diversified aged care service system of Anhui Provincial Government.
... Exibir mais + Some of the negative measures and mitigation measures include : (i) some aged-care institutions worry that the poor geographical location of some sites will be not suitable for living of the aged once the standard community sites are constructed; (ii) the implementation of project may exert impacts on other residents of communities due to the occupation over the areas that they can have activities previously, and the impact will be negative if no corresponding compensations are made; (iii) to provide non-agricultural jobs for female in project area; (iv) to alleviate the household labor burden of women in the project area; (v) recruit and train new employees for Community-based and home-based care service for the aged; (vi) organize and train volunteers for nursing homes; (vii) do well in the transition work during the implementation and strive for the support of staff and the aged at welfare home; and(viii) establish a participation-based monitoring and evaluation mechanism.
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The Second Phase of Scaling Up Nutrition Investments Annual Report presents the continuation of the second phase of a three-phased program between the Government of Japan and the World Bank to support the scaling up of nutrition investments.
... Exibir mais + In addition to addressing undernutrition, the World Bank is also focusing efforts on the dual burden of malnutrition, including the rising problem of overweight and obesity in developing countries. In 2009, to expand the implementation of proven nutrition interventions in high-malnutrition-burden countries, the Government of Japan committed US 2 million dollars to the first phase of the Japan Trust Fund for Scaling Up Nutrition Investments. The first phase supported the development and conceptualization of the Scaling Up Nutrition (SUN) movement, supported analytical work on nutrition to generate awareness and demand for nutrition services, built nutrition planning and implementation capacity, catalyzed in-country nutrition policy dialogue, and laid the groundwork for new IDA investments in several high-malnutrition-burden countries. The second phase focuses on consolidating activities with a financial commitment of US 20 million dollars over a four-year period. Building on Phase I, this phase seeks to achieve three key objectives: (1) to consolidate and expand the catalytic activities begun under Phase I to support the scale-up of nutrition-specific and nutrition- sensitive interventions in high-burden undernutrition countries; (2) to generate operational knowledge about how to effectively implement nutrition-sensitive interventions in non-nutrition sectors (a multisectoral approach to nutrition) such as agriculture, social protection, water and sanitation, and education; and (3) to support the work of the SUN movement through a specific focus on the SUN countries, including the Japan continued provision of support for the SUN leadership and governance structure (e.g., support to the mid-term evaluation process of the SUN movement), for participation of SUN country focal points in the SUN Global gathering, and for dissemination of lessons learned. This section briefly discusses the key points related to this investment. Optimum nutrition in the early years is fundamental to building human capital and driving economic growth. Collectively acknowledging the inadequate focus on nutrition, the global community acted to bring multiple stakeholders together around the SUN movement. The World Bank and Government of Japan partnership has made valuable contributions to the SUN movement and to efforts to address malnutrition. The three-phased program to scale up nutrition investments provides the framework for a sustained partnership to address malnutrition.
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Data from 919 household surveys conducted between 1960 and 2012, spanning 147 economies, are used to evaluate the relationship between rising life expectancy at birth and lifetime years of schooling for successive birth cohorts between 1905 and 1988.
... Exibir mais + The study finds significant positive effects of increased life expectancy at birth on lifetime completed years of schooling in 95 percent of the surveys, with significant negative effects found in only 2.3 percent. Rising life expectancy at birth for a birth cohort has intergenerational benefits in that the cohort's children’s schooling also increases. Rising life expectancy at birth since 1905 can explain 70 percent of the rising completed years of schooling for those birth cohorts.
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Documento de trabalho sobre pesquisa de políticas WPS8175 AUG 29, 2017
Hoque,Mohammad Mainul; King,Elizabeth M.; Montenegro,Claudio E.; Orazem,Peter F.Disclosed
This report provides an overview of current pension challenges and opportunities formembers of the Arab Monetary Fund (AMF)1. There is an urgent need to address pensionissues in the region to address fiscal, macroeconomic, sustainability, equity and welfarechallenges.
... Exibir mais + The report sets out potential solutions and proposals that countries could adopt toimprove their pension outcomes. The analysis and the reforms grew out of the high-levelconference: “Arab Pension Reforms,” that took place on January 25th, and 26th, 2017, in AbuDhabi. The conference was co-hosted by the AMF and the World Bank Group (WBG).
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This report aims to assess the spatial disparities in economic development along four important dimensions: (i) It provides stylized facts of the underlying forces behind within-country inequality, namely natural endowment, agglomeration economies, and market access.
... Exibir mais + These are the three building blocks of the economic geography literature; (ii) It examines spatial disparities in welfare and poverty. As the agricultural sector is a cornerstone of the economy in this sub-region, the report explores geographical differences in agricultural activity; (iii) It quantifies the roles of natural endowment, agglomeration economies, and market access in determining the spatial distribution of welfare and agricultural productivity; (iv) It suggests a number of policy guidelines that may help improve shared prosperity across space.
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Outro estudo sobre pobreza 118151 AUG 01, 2017
Dizon,Felipe Jr Fadullon; Nguyen,Nga Thi Viet InglêsDisclosed
Sub-Saharan Africa faced another challenging year in 2016. Economic activity continued to weaken, amid less favorable terms of trade, slowdown in global growth, and difficult domestic conditions.
... Exibir mais + Output growth decelerated sharply to 1.3 percent, the slowest pace in over two decades and not as stellar as the average annual growth of around 5 percent in the pre-global financial crisis period of 1995–2008. Regional growth in 2016 was insufficient to raise gross domestic product (GDP) per capita, which contracted by 1.3 percent. At the same time, Sub-Saharan Africa's poverty rate remains high: 41 percent of the region's population—nearly 390 million people—were living in extreme poverty in 2013. Weak economic performance threatens gains in poverty reduction, and the region urgently needs to regain momentum on growth and make it more inclusive.
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This country snapshot was produced as part of an Advisory Services and Analytics (ASA) work developed by the Urban, Social, Rural and Resilient Global Practice (GPSURR).
... Exibir mais + The objective of this ASA is to analyze economic, spatial and demographic trends in the urban systems of countries in Europe and Central Asia. Regional-level regressions of NLs and GDP were conducted to assess the validity of using NLs as a proxy for economic activity in the United Kingdom (UK). The results suggest a significant and positive correlation between NLs intensity and GDP.This country snapshot presents its results at the city level.This snapshot classified 535 settlements in the UK as cities. Demographic trends are available for all 535 cities but NLs analysis is only available for 520 cities; the remaining settlements did not produce enough light to be considered “urban” by the NLs threshold employed in this analysis.Unlike other countries in the region, the magnitude of growth in the urban footprints of the UK’s cities is relatively small. Beyond spatial patterns, there are two dominating trends in UK’s urban system: around half of the cities identified) growing both in population and economic activity (Type 1) while a third of its cities are declining in economic activity despite growing in population (Type 3). These trends are suggesting that not all cities are benefiting or contributing to the overall observed economic growth.
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This country snapshot was produced as part of an Advisory services and analytics (ASA) work developed by the Urban, social, rural and resilient global practice (GPSURR).
... Exibir mais + The objective of this ASA is to analyze economic, spatial and demographic trends in the urban systems of countries in Europe and Central Asia. In the absence of city-level economic and spatial data over the period of analysis, nighttime light (NLS) satellite imaging was used to assess spatial and demographic trends in cities. Regional-level regressions of NLS and Gross domestic product (GDP) were conducted to assess the validity of using NLS as a proxy for economic activity in Romania. The results suggest a significant and positive correlation between NLS intensity and GDP at the city level. This snapshot classified 186 settlements in Romania as cities. As a result and unlike most countries in the region, there is a need to focus on developing an approach that can adequately address population decline in urban areas, urban sprawl and aging while fostering the economic potential of Romania’s urban system.
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Germany is highly urbanized but has been experiencing and overall population decline over the past decade. Fertility rates that are lower than replacement levels and an aging population exacerbate the demographic shift occurring in Germany.
... Exibir mais + Decline in Germany is largely concentrated in rural areas, which constitute a small share of total population, and in small cities. As such, between 2001 and 2014 the urbanization level in Germany slightly increased. Across the urban system, small cities continue to lose population while large cities continue to attract population. The nighttime lights threshold used in this analysis identified many agglomerations in Germany. Unlike population dynamics observed in other countries in the region, population growth is uneven within Germany’s agglomerations. Two distinct dynamics can be observed in Germany’s agglomerations one of which suggest suburbanization is occurring in some cities. Despite uneven growth within agglomerations, the top 15 fastest growing cities all belong to an agglomeration, namely Berlin or Munich. The urban sector continues to account for a majority of the country’s economic growth. At the city level, the nighttime lights used in this analysis suggest that nearly all of the identified cities experienced economic growth between 2000 and 2010. Additionally, the identified cities in Germany have all increased in nighttime light footprint despite population growth or decline. For the cities that are declining in population, nighttime light footprint growth suggests urban sprawl. Furthermore, despite population decline a majority of Germany’s cities are growing in economic activity. This suggests that in Germany urban population decline is not necessarily linked to economic decline.
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