This paper develops a public education scheme that takes uncertainty aspects of private educational investments explicitly into account. In the author’s framework, the social merits of public education schemes are related to the lack of markets in which students can insure against educational...

The Global Monitoring Report 2014/2015: Ending Poverty and Sharing Prosperity was written jointly by the World Bank Group (WBG) and the International Monetary Fund, with substantive inputs from the Organisation for Economic Co-operation and Development. This year's report details, for the first...

One decade remains to meet the Millennium Development Goals (MDGs) that the international community set out in 2000. Yet the world is still far from achieving the MDGs. This Global Monitoring Report (GMR) reviews the efforts under way to strengthen mutual accountability. Greater resource flows...

The Millennium Development Goals (MDGs) and the Monterrey Consensus have created a powerful global compact for development. But the continued credibility of this compact hinges on fostering momentum in its implementation. With the five-year stocktaking of the implementation of the Millennium...

The turn of the century was marked by some significant and promising events for world development. The Millennium Declaration - signed by 189 countries in September 2000 - led to the adoption of the Millennium Development Goals, which set clear targets for eradicating poverty and other sources...

What is the human cost of the global economic crisis? How many people will the crisis prevent from escaping poverty, and how many will remain hungry? How many more infants will die? Are children being pulled out of schools, not getting the education they need to become more productive adults and...

The global financial crisis, the most severe since the great depression, is rapidly turning into a human and development crisis. The financial crisis originated in the developed world, but it has spread quickly and inexorably to the developing world, sparing no country. Increasingly it appears...

A Development Emergency: the title of this year's Global Monitoring Report, the sixth in an annual series, could not be more apt. The global economic crisis, the most severe since the Great Depression, is rapidly turning into a human and development crisis. No region is immune. The poor...