A new report on mental health in Ukraine offers a sobering picture of the often-ignored disease burden of mental disorders, which undermine human capital development and total wealth accumulation in a country. The World Bank Group estimates show that unaccounted “intangible capital” such as human capital, constitutes the largest share of wealth in virtually all countries, more than produced capital and natural resources.
Welcome to the “10 Candid Career Questions” series, introducing you to the infrastructure and PPP professionals who do the deals, analyze the data, and strategize on the next big thing. Each of them followed a different path into infra and/or PPP practice, and this series offers an inside look at their backgrounds, motivations, and choices. Each blogger receives the same 15 questions and answers 10 or more that tell their career story candidly and without jargon. We believe you’ll be as surprised and inspired as we were. For examples of other entries on the IPG blog, click here.
It’s not always easy to convince the private sector to participate in public infrastructure projects—especially in developing countries and emerging economies. Why is this a problem? Because there simply is not enough public money to meet the growing demand for infrastructure, which is a key element of development and poverty alleviation. The need is great, numbering in the trillions of dollars.
But there is good news—the market has both the trillions and the expertise to use it, if the conditions are right. And the World Bank Group has a number of instruments that can help create an environment that meets the needs of the private sector in financially, environmentally, and socially sustainable ways. Guarantees are one of those instruments, a tool that is highly effective in leveraging limited resources for mobilizing commercial financing for critical infrastructure projects.
Advocacy around open government reforms to date has largely revolved around the intrinsic value of transparency, accountability, and participation. In a resource-constrained environment, development practitioners, policy makers, and citizens increasingly have to be more judicious. Adopting new methods or tools – such as open contracting mechanisms, open data dashboards and participatory budgeting – is not free.
Ukraine is not a newcomer to the world of science and technology. One positive legacy from the country’s Soviet history is a talented and technically qualified workforce that persists even today. Eighty percent of 19-25 year-old Ukrainians are enrolled in universities, the country has one of the largest pools of IT developers and programmers in the world – 90,000 strong – and its high-skilled diaspora has spread through Europe and North America. As a result, the country has a booming ICT sector, estimated at $2.5 billion in exports in 2015, and is home to globally competitive startups such as Looksery, which was bought by Snapchat for $150 million in 2015, PetCube, and others. On the surface, the country has the ingredients and the potential to be an innovation-driven economy.
As the world is increasingly interconnected, international taxation – traditionally more of a niche issue for tax lawyers – is receiving more and more attention in wider discussions on economic development: Double tax treaties, or agreements that two countries sign with one another to prevent multinational corporations or individuals from being taxed twice, have become more common, with more than 3,000 in effect today. And while they may contribute to investment, some have also become an instrument for aggressive tax planning.
Photo: Roberto Maldeno | Flickr Creative Commons
Infrastructure in Ukraine, Europe’s largest country, is extremely underdeveloped. Without significant investment, it cannot support the existing or future needs of our economy or population. The reasons are many: decades of mismanagement under Soviet rule, economic crisis, and more recently, the conflict in the Donbass. Given that these constraints go beyond a simple lack of funding, our government is partnering with the Global Infrastructure Facility (GIF), as well as other international partners such as the European Bank for Reconstruction and Development (EBRD) and the World Bank.
This is important, as the sharing economy has the potential to bring efficiency gains and improve the welfare of many individuals in the region.
This can also generate important disruptions.
While online platforms represent a small fraction of overall incomes, the share of individuals participating in these platforms is large in many European countries. For example, roughly 1 in 3 people in France and Ireland have used a sharing economy platform, while at least 1 in 10 have in Central and Northern Europe (see figure below).
At the same time, the share of the population that has used these platforms to offer services and earn an income is also significant, reaching 10% or more in France, Latvia, and Croatia. This means that at least one out of every ten adults in these countries worked as a driver for a ride-sharing platform such as Uber, rented out a room of his or her house using a peer-to-peer rental platform such as Airbnb, or provided ICT services through an online freelancing platform such as Upwork, to name a few examples.
- business regulation
- labor markets
- Disruptive Technologies
- disruptive innovations
- social safety nets
- ICT Regulation
- online work
- digital development
- digital dividends
- Sharing Economy
- Private Sector Development
- Climate Change
- Law and Regulation
- Labor and Social Protection
- Information and Communication Technologies
- Europe and Central Asia
- Russian Federation
When I visited Peru for the first time last month for a business development trip, I met with the heads of some leading private education institutions. At the end of my visit, I decided to book a cultural tour of Lima. During the tour, I asked our guide Marcos where he learned English as I found him very articulate, knowledgeable and with a good sense of humor. To my pleasant surprise and astonishment, he told me that he learned it by himself, mainly online. He then started practicing with visiting tourists until he became more comfortable leading tours himself.