The private sector is a key actor in efforts to promote economic growth, reform the business climate and strengthen democratic policymaking worldwide. Dialogue is a key part of the Busan process, which recognizes that the for-profit private sector is a central driver of development and emphasizes the importance of inclusive dialogue for building a policy environment conducive to sustainable development.” Businesses possess the know-how of economic conditions, obstacles and opportunities for growth, while governments have the means to pass business-friendly legislation.
From a democratic point of view, a vibrant private contribution to dialogue expands participation in policymaking by creating space for civic engagement in governance, improves the quality of business representation and supplements the performance of democratic institutions.
Building upon its longstanding experience in the field, CIPE has been invited to participate in the 7th Annual Public Private Dialogue Global Workshop organized by the World Bank, BMZ-The German Federal Ministry for Economic Cooperation and Development, and GIZ in Frankfurt, Germany.
Senior Knowledge Manager Kim Bettcher will moderate a session on long term public private dialogue sustainability and the role of chambers of commerce and business associations. Director of Multiregional Programs Anna Nadgrodkiewicz will make a presentation on a new initiative between the CIPE, the World Bank Institute, and development partners on building an open and collaborative platform for public private dialogue resources.
CIPE has extensive experience in advancing policy dialogue around the world and supports market-oriented reform and private sector development by mobilizing representative business associations and strengthening their capacity to advocate for policy solutions. CIPE also invests in business association development that enables effective dialogue. Some regional success stories in public private dialogue are outlined in more detail below.
Some central questions in international development are how to measure progress, make sound cross-country comparisons, and build the case for political and economic reforms. Multilateral institutions such as the World Bank play the role of repositories of credible, accessible, and up-to-date information that serves as an international benchmark for progress. Access to information is the basis for evidence-based policymaking and can serve as a catalyst for necessary reforms.
The World Bank recently convened a conference to present research around its Doing Business index at my alma mater Georgetown University. The keynote speaker, Tim Besley of the London School of Economics, discussed the importance of World Bank data that is publicly available and internationally recognized as a reliable source of evidence-based policymaking.
The Doing Business Survey focuses on two main sets of indicators: regulations and legal institutions. The regulation indicators are the number of procedures, time, and cost involved in starting a business, to obtain a construction permit, getting access to electricity, registering property, paying taxes, and the ability to trade across international borders.
At the recent World Economic Forum summit in Davos, Switzerland, global inequality was identified as a “top global risk.”
Economic inequality has been a growing concern in recent years. The huge gap between the “haves” and the “have-nots” is clearly illustrated by a recent Oxfam report which show that the 85 wealthiest individuals in the world own half of the global wealth. Inequality was also on the top of the World Economic Forum agenda in Davos, Switzerland earlier this year.
There are many reasons to be alarmed by these statistics, but perhaps most importantly we should understand that behind the figures are real people from all walks of life who lack the opportunities to advance their lives and improve their communities. It is also important to remember that the private sector plays a vital role in providing solutions to economic inequality.
At a recent Brookings event “Promoting Shared Societies,” a distinguished panel of experts shared their thoughts on the implications of growing global inequality and the Millennium Development Goals.
We live in a globalized world where goods and services are traded across international borders and consumers are able to purchase products with components produced in several countries. What is the role then of international trade in development?
Economists such as Adam Smith and David Ricardo articulated the economic advantage of free trade, which was primarily driven by the idea of “comparative advantage.” A country with a comparative advantage can produce certain goods and services more efficiently and cheaply than others. In terms of international trade, countries with comparative advantage will export goods and services they can produce more efficiently, while importing those they produce relatively less efficiently.
Saadia Zahidi, Senior Director, Head of the World Economic Forum’s Women Leader and Gender Parity Programme, visits the New York Stock Exchange with partner companies on International Women’s Day 2012. (Photo: WEF)
Women represent more than half of the world’s population and yet no single country has achieved full gender parity. A country’s global competitiveness depends on utilizing the human capital of its entire workforce, including the untapped skills and knowledge of women. Since 2006, the World Economic Forum has published its annual Global Gender Gap Report as a means of assessing and quantifying the state of gender equality in the world. The report focuses on four main factors that make-up individual country’s scores: “economic participation and opportunity, education attainment, health and survival and political empowerment.”