This paper presents new evidence that cronyism reduces long-term economic growth by discouraging firms' innovation activities. The analysis is based on novel establishment survey data from The Arab Republic of Egypt which provides information on establishments' political connections, their...

Governments must decide how to allocate limited resources for infrastructure development, particularly since financing gaps have been projected for the coming decades. Social cost-benefit analysis provides sound project appraisal and, when systematically applied, a basis for prioritization. In...

This is a speech given by Mr. Wolfensohn to the United Nations Economic Commission for Africa, on January 27, 1998 at Addis Ababa. He presented a development agenda in Africa which covers: human resource development, capacity building, rural development and rural transformation, private sector...

Although there is wide recognition of the negative consequences of policy volatility for countries' long-term economic growth, there is limited empirical work on this subject. One of the reasons is the difficulty of measuring policy volatility over long periods of time, especially in developing...

Governments play a very important role in supporting innovation, managing the disruptive effects of innovation, and ensuring that the benefits of innovation are broadly shared in the long run. This paper reviews the literature on market mechanisms that translate innovation into jobs and policies...

This paper defines institutions, presents their basic characteristics, and discusses forces for institutional change. It draws on a wealth of research and study by scholars in different fields and follows from the flagship 2002 World Development Report on this topic, including relevant new...

This policy note was prepared in parallel to the report Pakistan at 100- Shaping the Future. The report Pakistan at 100 discusses options to accelerate and sustain growth in Pakistan so that the country becomes an upper middle-income country when it turns hundred years old in 2047. This policy...

The World Bank (WB) is a vital source of financial and technical assistance across the transport sector in India. While financial resources and technical expertise are vital, they are not sufficient to promote sustainable development. This requires strong and durable institutions in client...

The 2008 crisis marked the beginning of a lost decade for many countries - and many people - in the European Union (EU). The crises of 2008 and 2012 halted, and in some countries undid, a decade of growth and economic convergence across the EU. This report argues that the economic shocks...

Mandalay is the second-largest city in Myanmar and a gateway to the Bay of Bengal to neighboring economic hubs. Rapid economic and demographic growth, paired with the relaxation of import restrictions for new and used two, three, and four-wheeler has resulted in rapidly declining conditions for...