Corporate Flagships
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The current corporate publications that are World Bank Group flagships are: World Development Report (WDR); Global Economic Prospects (GEP), Doing Business (DB), and Poverty and Shared Prosperity (PSP). All go through a formal Bank-wide review and are discussed with the Board prior to their release. In terms of branding, the phrase “A World Bank Group Flagship Report” will be used exclusively on the cover of these publications. This label will signal that the institution assumes a higher level of responsibility for the positions held by these reports. The flagship Global Monitoring Report (GMR) is no longer produced. The flagship Doing Business is no longer produced.
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Publication
Development Economics through the Decades: A Critical Look at 30 Years of the World Development Report
(Washington, DC: World Bank, 2009)The World Development Report (WDR) has become such a fixture that it is easy to forget the circumstances under which it was born and the Bank's motivation for producing such a report at that time. In the first chapter of this essay, the authors provide a brief background on the circumstances of newly independent developing countries and summarize some of the main strands of the emerging field of development economics. This backdrop to the genesis of the WDR accounts for the orientation of the earlier reports. The thinking on development in the 1960s and 1970s also provides a baseline from which to view the evolution that has occurred since. From the coverage in the second chapter, the authors isolate a number of key issues common to several or all of the WDRs, and the author examine these issues individually at greater length in third chapter. The discussion in third chapter, which builds on the material in the WDRs, presents some views about how far development thinking and, relatedly, policy making have advanced relative to 30 years ago. It asks whether promoting growth, building institutions, tackling inequality and poverty, making aid effective, and defining the role of the state have been rendered more tractable policy wise by the knowledge encapsulated in the WDRs. Chapter four looks ahead and points to some of the big challenges that the Bank might explore through future WDRs and the value it can add through the knowledge acquired from its cross-country operations and research. -
Publication
Global Economic Prospects 2009 : Commodities at the Crossroads
(World Bank, 2009)The release of this year's global economic prospects finds the world economy at a crossroads. Markets all over the world are engulfed in a global economic crisis, with stock markets sharply down and volatile, almost all currencies having depreciated substantially against the dollar, and risk premiums on a wide range of debt having increased by 600 or more basis points. Commodity markets too have turned a corner. Following several years of increase, prices have plummeted, and although well above their 1990s levels, they have given up most of the increases of the past 24 months. Chapter one of this report examines the medium-term implications of this crisis for developing-country growth, inflation, and world trade. Chapter two looks at longer-term supply and demand prospects in commodity markets. It takes into account the long-term growth prospects of developing countries and their rising share in world GDP (gross domestic product), the declining quality of new pools of resources, and the influence of technology on both demand and supply. Finally, chapter three reports on the poverty impacts of high commodity prices and examines the effectiveness of policies in both producing and consuming countries in dealing with the challenges posed by periodic bouts of high commodity prices. -
Publication
Global Economic Prospects 2007 : Managing the Next Wave of Globalization
(Washington, DC: World Bank, 2007)Global Economic Prospects (GEP) 2007 explores the next wave of globalization. While the medium-term outlook for the world economy remains fairly bright, demographic trends will be a major driver of future events and the benefits of globalization are likely to be uneven across regions and countries. Looking at a set of growth scenarios covering the years 2006 to 2030, the report analyzes the opportunities and stresses of integration in order to bring into sharper relief the choices facing the world today. Three prominent features in the next wave of globalization are: the growing economic weight of developing countries in the international economy, the potential for increased productivity that is offered by global production chains, and the accelerated diffusion of technology. The GEP also analyzes three possible consequences: growing inequality, pressures in labor markets, and threats to the global commons. All of these developments, along with deepening economic interdependence, place a burden on the collective actions of the international community: to manage globalization or risk being run over by it.