What makes a country a great place to start and grow a business? Among low-income economies across the world, only 29% have a single centralized website dedicated to providing regulatory information pertaining to international trade. In high-income economies, the same number stands at 67% . The World Bank’s new Business Ready (B-READY) project shines a light on this […]
Understanding differences in firm responses to macroeconomic shocks is key for designing policy actions. This column identifies 67 macro shocks using ‘jump’ days in the US stock market over 2020-2022. It measures firm exposures using individual stock returns and, crucially, discussions of business risk factors in corporate filings. These exposures are largely uncorrelated for different […]
Over the past year, I’ve seen a growing interest in, and a stronger demand for, better tools to prepare for and respond to crises. Our partners in government, the private sector, civil society, foundations, and other development organizations send us the same message time and time again: In the face of crisis, we need greater […]
HSBC has agreed to sell 6.7 billion euros ($7.81 billion) worth of French home loans to British insurer Rothesay and consortium partner CCF Group, the latter said on Friday. The portfolio mainly consists of 25-year fixed rate mortgages for residential properties in France, Rothesay said. The proposed sale comes as HSBC has shrunk its presence […]
Payments firm PayPal has partnered with the operator of India’s popular unified payments interface and others to launch a global platform through which consumers can make cross-border payments to businesses. The platform, PayPal World, will enable interoperability between local payment platforms and PayPal, the firm said in a statement on Wednesday. Its partners for the […]
The last coal mine in Wałbrzych, Poland closed in the 1990s, leaving a region that had long relied on mining facing severe economic disruption. Unemployment soared, local businesses suffered, and an entire way of life built around the coal industry seemed to disappear overnight. By 2000, only one-tenth of the jobs lost in the mining […]
Central bank digital currencies are gaining traction as a potential innovation in central banking, with numerous countries considering their implementation. However, given the limited real-world experience with such currencies, researchers and policymakers depend on theoretical analysis to assess their potential. This column presents a new macroeconomic model that reveals significant welfare gains from introducing central […]
The transition from sail to steam power for cargo and passenger shipping to Australia lagged behind the North Atlantic by nearly two decades. This column explores how Brunel’s iconic ship, the SS Great Britain, succeeded where others failed, thanks to its size and innovative design that combined sail and steam power. The Great Britain made […]
At a workshop in Marimauta Village, Zimbabwe, business is booming. Local entrepreneurs drop by to commission bespoke machinery. A solar-powered maize processing machine serves farmers across the region. Young apprentices learn new technical and digital skills. The scene contrasts sharply with 2019 when Cyclone Idai ripped through the area, tearing down power lines and shuttering […]
In 2000, the World Bank published, “Can Africa Claim the 21st Century?” This landmark report proposed four crucial areas of progress, and the priorities that were highlighted are even more pertinent today: improve governance and reduce conflict, invest in people; increase competitiveness and diversify economies; and reduce aid dependence and debt. Much of what was on […]
