Nigerian Economy Essays On Economic Development

Nigerian Economy Essays On Economic Development-35
During this time, the Bank’s Philippines and Zambia country teams have made some of the strongest uses of political economy analysis to inform their programming, operations, and policy dialogue.Given the significant global and local challenges that we are up against, we should continue honing and deploying this skill.Cooperation between the public and private sectors seemed essential to increasing such linkages.

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Turkeys do not vote for Thanksgiving–and most politicians do not wish to, or simply cannot, change the systems that bring them to power.All five countries have either relatively high HDIs (compared with neighboring countries) or strongly improving HDIs.The term ‘political economy’ has become an increasingly popular part of the vernacular at the World Bank and other development agencies.At the same time, the development challenges that our client countries face continue to be significant, while changing in nature and scope.Governments–and the political and economic elite that sustain them–need to generate more and better employment and prepare for more severe impacts of climate change.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.Second, in order to improve the likelihood of adopting good policies–be it reforming subsidy regimes, improving road maintenance and school management, or better regulating the financial sectors–better governance is needed.This requires that politicians should become less self-serving and more focused on the provision of public goods.Through the presentation of trends and patterns of various indicators, this paper shows that in addition to economic growth, countries rich in minerals other than oil have experienced significant improvements in their human development index (HDI) scores that are on average better than those experienced by countries without minerals.In a sample of five low and middle-income countries with relatively long histories of mining, benefits came from foreign direct investment (FDI), export revenues, and fiscal revenues.

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