Nigerian Economy Essays On Economic Development

Nigerian Economy Essays On Economic Development-23
All five countries have either relatively high HDIs (compared with neighboring countries) or strongly improving HDIs.

All five countries have either relatively high HDIs (compared with neighboring countries) or strongly improving HDIs.

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A third insight–that has become increasingly apparent over the past decade–is that improvements in governance are difficult to achieve.

Turkeys do not vote for Thanksgiving–and most politicians do not wish to, or simply cannot, change the systems that bring them to power.

Long-standing problems such as poverty, rural underdevelopment, or limited progress in education and health continue to exist.

Hence, there is an urgent need for an effective World Bank—but our financial firepower is diminishing relative to other flows.

The overall impact of the mining sector was much stronger if there were infrastructure benefits and strong linkages to other industries, especially through domestic procurement.

Nigerian Economy Essays On Economic Development

Contrary to the notion that there are no jobs in mining, in this small sample, employment related to the mining sector was very high in countries where linkages were strong, even before the multiplier and fiscal expenditure impacts were accounted for.In parallel, interest in the political economy aspects of development has also seen a resurgence in academia, within both economics and political science departments, and even in leading business programs.However, there still exists much skepticism about the value such a perspective can add to development effectiveness.Political economy perspectives can help to calibrate where best to apply the Bank’s strengths–technical knowledge, convening power, and financing–and identify how to work towards strengthening both the supply of and the demand for better governance and governments.Over the past few years, we have started to learn how to use political economy analysis in an operationally targeted way to improve development effectiveness.Political economy perspectives enable us to scan country and sector environments for opportunities to leverage existing positive drivers of change–as well as to make realistic estimations of the risks and challenges involved.This implies taking the incentives of individuals and of groups more seriously–rather than thinking about reforms predominantly from a public welfare perspective.A chain of insights drives the growing interest in political economy analysis: First, there is the fact that reforms often fail even when solutions that would improve public welfare are available.Abolishing fuel subsidies in Nigeria is proving hard, even though the subsidy regime is both inefficient and unfair for the vast majority of poorer citizens.The implications of political economy work may not always be comfortable, and the analytic understanding of political economy drivers must be followed up by actually doing things differently.But such a perspective is precisely the crucial first step in making aid–provided by the Bank as well as by other international development agencies–more effective in an increasingly challenging and complex environment.

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