Inefficient loan resolution regimes can lead to the creation of zombie firms, with negative spillover effects for the rest of the economy. This column, however, argues that weak resolution regimes have the benefit of insulating weak firms from financial and macroeconomic shocks. Using firm-level and bank-level data from Europe, it shows that zombie firm sales […]
International trade is a major driver of economic growth, with exporting firms earning greater profits, paying higher wages, and growing faster than non-exporting firms. But women entrepreneurs are less likely to engage in international trade, leaving them unable to capitalise on such benefits. This column analyses the factors inhibiting women-led firms from trading internationally and […]
Urban transportation is a major policy concern in every large city worldwide, but we know little about what determines urban traffic speed. This column provides new evidence on why travelling speed varies across cities using a novel global transportation database. Results show a strong relationship between a country’s income level and the travel speed of […]
In combination, international aviation and shipping contribute about 3 percent of greenhouse gases put into the atmosphere each year. Emissions in 2022 from international aviation were 436 million tonnes of carbon dioxide equivalent, while from international shipping the figure was 706 Mt/CO2eq – about the same as Germany (746 Mt of CO2eq). If within-country emissions […]
Urban areas are increasingly prone to flooding due to climate change, rising urbanization, and inadequate stormwater management. A recent paper estimated that 1.81 billion people, or 23% of the world population, are directly exposed to a 1-in-100-year flood event, posing significant risk to lives and livelihoods. As climate change further disrupts weather patterns, river flows, and sea levels, […]
Dependence on fossil fuels in many countries leads to a vicious cycle of increasing costs, higher energy prices for consumers, more pollution that impacts people’s health, and higher greenhouse gas emissions that endanger the planet. In contrast, transitioning to renewable energy can unlock a virtuous cycle that produces lower-cost electricity for consumers, builds resilience, and helps […]
The world’s 28 poorest countries are facing growing social, economic, and political distress, owing to rising debt burdens, diminishing development prospects, and chronic underinvestment. The world’s wealthier countries have chosen exactly the worst moment to become less generous with aid and development assistance. The poorest countries are in desperate straits, and the rest of the world […]
Trust is a crucial element for peacebuilding, recovery, and development, especially in fragile contexts like Northern Mozambique. In the wake of the trauma induced by conflict, when the social fabric has been torn apart, trust is a critical ingredient that helps to reconcile and unite disparate groups and dispel suspicion. This is why so much […]
In today’s rapidly changing world, citizen engagement has emerged as a crucial element in development projects. By empowering citizens and involving them in decision-making processes, development interventions can become more inclusive and responsive to the needs and aspirations of the people they are designed to benefit . The World Bank´s Caribbean Hotspot Project, implemented under the Critical Ecosystem […]
Urban areas are increasingly prone to flooding due to climate change, rising urbanization, and inadequate stormwater management. A recent paper estimated that 1.81 billion people, or 23% of the world population, are directly exposed to a 1-in-100-year flood event, posing significant risk to lives and livelihoods. As climate change further disrupts weather patterns, river flows, and sea levels, […]
