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Talent is the bedrock of a creative society. Augmenting talent involves mobilizing culture and tradition, building institutions to increase the stock of human capital, enhance its quality, and instill values favoring achievements and initiative. The productivity of this talent in the form of ideas can be raised by nurturing wikicapital-the capital arising from networks. Translating creativity into innovation is a function of multiple incentives and sustaining innovation is inseparable from heavy investment in research. Finally, the transition from innovation to commercially viable products requires the midwifery of many service providers and the entrepreneurship skills of firms small and large.

Agricultural Knowledge and Information Systems --- Agriculture --- Capabilities --- Domain --- E-Business --- Education --- Global markets --- Human capital --- ICT Policy and Strategies --- Information and Communication Technologies --- Innovation --- Innovations --- Knowledge for Development --- Networks --- Private Sector Development --- Product innovation --- Productivity --- Rural Development --- Tertiary Education --- Uses

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Measuring the poverty and distributional impact of the global crisis for developing countries is not easy, given the multiple channels of impact and the limited availability of real-time data. Commonly-used approaches are of limited use in addressing questions like who are being affected by the crisis and by how much, and who are vulnerable to falling into poverty if the crisis deepens? This paper develops a simple micro-simulation method, modifying models from existing economic literature, to measure the poverty and distributional impact of macroeconomic shocks by linking macro projections with pre-crisis household data. The approach is then applied to Bangladesh to assess the potential impact of the slowdown on poverty and income distribution across different groups and regions. A validation exercise using past data from Bangladesh finds that the model generates projections that compare well with actual estimates from household data. The results can inform the design of crisis monitoring tools and policies in Bangladesh, and also illustrate the kind of analysis that is possible in other developing countries with similar data availability.

Achieving Shared Growth --- Counterfactual --- Distributional effects --- Economic Theory & Research --- Employment status --- Global markets --- Household heads --- Household income --- Household survey --- Impact on poverty --- Income --- Income distribution --- Income poverty --- Inequality --- Macroeconomic shocks --- Macroeconomics and Economic Growth --- Poor --- Poor rural households --- Poverty line --- Poverty rates --- Poverty Reduction --- Regional Economic Development --- Rural --- Rural areas --- Rural Poverty Reduction

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The extent to which India's poor have benefited from the country's economic growth has long been debated. This paper revisits the issues using a new series of consumption-based poverty measures spanning 50 years, and including a 15-year period after economic reforms began in earnest in the early 1990s. Growth has tended to reduce poverty, including in the post-reform period. There is no robust evidence that the responsiveness of poverty to growth has increased, or decreased, since the reforms began, although there are signs of rising inequality. The impact of growth is higher for poverty measures that reflect distribution below the poverty line, and it is higher using growth rates calculated from household surveys than national accounts. The urban-rural pattern of growth matters to the pace of poverty reduction. However, in marked contrast to the pre-reform period, the post-reform process of urban economic growth has brought significant gains to the rural poor as well as the urban poor.

Distributional effects --- Economic Growth --- Farm growth --- Farm productivity --- Global markets --- Household surveys --- Human development --- Impact on poverty --- Inequality --- Poor --- Post-reform --- Poverty line --- Poverty measures --- Poverty Reduction --- Pro-Poor Growth --- Rural --- Rural Development --- Rural economic growth --- Rural growth --- Rural poor --- Rural poverty --- Rural Poverty Reduction --- Rural sector

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At this stage, it is difficult to conclude that the euro will have substantial macroeconomic impact on sub-Saharan Africa, unless launch of the euro becomes the tool of a major policy shift, such as the euroization of the continent - which is currently unlikely; In considering how the euro will affect Sub-Saharan Africa, Cohen, Kristensen, and Verner examine the transmission channels through which the euro could affect economies in the region. They examine the risks and opportunities the euro presents for Sub-Saharan African countries. They especially examine the effects from the trade channel, through changes in European economic activity and the real exchange rate. Because of the relatively low income elasticity for primary commodities - which is what Sub-Saharan Africa mainly exports - an increase in activity in Europe is considered to have a marginal impact on Africa. Exchange rate regimes and geographical trade patterns point to large differences in exposure to changes in the real exchange rate. Capital flows to Sub-Saharan Africa can be affected through portfolio shifts or through changes in foreign direct investment. Changes in competitiveness in Europe are not expected to influence foreign direct investment, so the euro is not expected to affect foreign direct investment significantly. Portfolio diversification could increase greatly. But Sub-Saharan Africa is not expected to realize the increased potential from portfolio diversification because of its severely underdeveloped domestic capital markets. It is vitally important that Sub-Saharan African countries strengthen their financial integration into global markets. How the euro will affect such parts of the financial system as banks and debt and reserve management varies across countries. Generally the effect is expected to be limited. This paper - a product of Poverty Reduction and Economic Management Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the Bank to study the effect of the euro on developing countries. The authors may be contacted at nkristensen@worldbank.org or dverner@worldbank.org.

Banking System --- Banks and Banking Reform --- Capital Flows --- Country Risk --- Currencies and Exchange Rates --- Debt --- Debt Markets --- Domestic Capital --- Domestic Capital Markets --- Economic Theory and Research --- Emerging Markets --- Exchange --- Finance and Financial Sector Development --- Foreign Debt --- Foreign Direct Investment --- Foreign Direct Investments --- Global Markets --- Interest --- Interest Rate --- International Capital --- International Capital Markets --- Macroeconomics and Economic Growth --- Market --- Portfolio --- Portfolio Diversification --- Private Sector Development --- Real Exchange Rate --- Reserve

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Over the course of the twentieth century, Sweden carried out one of the most ambitious experiments by a capitalist market economy in developing a large and active welfare state. Sweden's generous social programs and the economic equality they fostered became an example for other countries to emulate. Of late, Sweden has also been much discussed as a model of how to deal with financial and economic crisis, due to the country's recovery from a banking crisis in the mid-1990's. At that time economists heatedly debated whether the welfare state caused Sweden's crisis and should be reformed-a debate with clear parallels to current concerns over capitalism. Bringing together leading economists, Reforming the Welfare State examines Sweden's policies in response to the mid-1990's crisis and the implications for the subsequent recovery. Among the issues investigated are the way changes in the labor market, tax and benefit policies, local government policy, industrial structure, and international trade affected Sweden's recovery. The way that Sweden addressed its economic challenges provides valuable insight into the viability of large welfare states, and more broadly, into the way modern economies deal with crisis.

Microeconomics --- Public economics --- Sweden --- Labor market - Sweden. --- Labor market -- Sweden. --- Manpower policy - Sweden. --- Manpower policy -- Sweden. --- Sweden - Economic conditions - 1945-. --- Sweden -- Economic conditions -- 1945-. --- Sweden - Economic policy. --- Sweden -- Economic policy. --- Welfare state - Sweden. --- Welfare state -- Sweden. --- Manpower policy --- Labor market --- Welfare state --- Business & Economics --- Economic History --- Economic conditions --- Economic policy. --- E-books --- welfare, reform, government, policy, aid, assistance, poverty, equality, wealth, social programs, financial crisis, banking, recovery, international, politics, economics, capitalism, manpower, labor, workforce, trade, industrial structure, tax, taxation, global markets, competition, regulation, unemployment, depression, economy, women, gender, wage determination, wages.