Burgeoning youth populations across the developing world emphasize the importance of achieving sustainable economic growth and providing widespread employment opportunities. Economic inclusion refers to equality of opportunity for all members of society to participate in the economic life of their country as employers, entrepreneurs, consumers and citizens — and the private sector is a central partner in fostering economic growth.
CIPE’s latest Economic Reform Feature Service article outlines strategies to build a more inclusive entrepreneurial ecosystem by engaging traditionally under-represented groups in economic and political life. The article focuses on approaches to promote entrepreneurship opportunities among women and youth as well as informal sector operators. The article also illustrates successful approaches employed in CIPE projects around the world. Read the full article here.
Teodora Mihaylova is Research Coordinator at CIPE.
Real estate investors are attracted to the United States because its strong legal system protects their investment and because of the easy availability of accurate information. (Photo: Wikimedia Commons)
I recently participated in George Washington University’s 2015 Global Real Estate Conference in New York. Having been invited to share CIPE’s work developing the International Property Markets Scorecard at the International Real Estate Federation’s (FIABCI-USA) annual meeting, which dove-tailed with the conference, I took the opportunity to educate myself on the current happenings in the real estate field and see how CIPE’s work might resonate with the professionals most connected to international investment in property.
Headliners at the conference included international representatives from such prominent companies as Morgan Stanley, CBRE, Knight Frank, and Cushman & Wakefield. Mostly I learned a great deal of “inside baseball” language and can now boast a broader vocabulary, but there was another theme that kept coming up. Whether talking about mitigating risk, conducting valuation of property, or trying to determining capitalization rates, it all came down to the need for reliable information and a stable environment that allows for confident investing.
By Dahye Kim
On May 3, the United Nations General Assembly honors the fundamental principles of press freedom with World Press Freedom Day. On this day Freedom House also released Freedom of the Press 2015, the latest edition of its annual report published since 1980 to evaluate press freedom around the world.
Unfortunately, the dominant global trend in 2014 was negative. Global average score of press freedom declined to the lowest point in more than 10 years, with the largest one-year drop in a decade. There were significant declines in press freedom in 18 countries (Greece, Bahrain, Mali, Hong Kong, Azerbaijan, etc.), while just eight had significant gains (Tunisia, Myanmar, Libya, etc.)
Of 199 countries and territories, 32 percent were rated “Free”, 36 percent were rated “Partly Free”, and 32 percent were rated “Not Free.” This marks a shift toward the Partly Free category compared with the previous year.
While young people tend to be the most active participants in movements for democratic change, their involvement is often confined to staging demonstrations and other similar activist activities. However, in order for democratic reform — or any reform for that matter — to be meaningful and sustainable, youth must not only be involved in demonstrations, but also in the decision making processes that chart the way forward.
When they have a voice in the policymaking process, youth also gain a stake when it comes to implementation. Having contributed their ideas and opinions in a meaningful way, they become staunch advocates when it comes to accountability and will work into adulthood to ensure that the solutions they helped create are realized.
In addition to building youth buy-in, engaging young people in decision-making processes has other benefits. Youth can help drive innovation in policy by injecting new ideas and solutions and also bring new tools to the table as they are typically the first group to adopt new technologies and behaviors.
Though it is vital to ensure youth are engaged in policy advocacy campaigns, taking this from idea to reality can be difficult. Youth is generally thought of as a singular demographic, but in reality, youth can be extremely varied. Young people come from different social and economic backgrounds and age boundaries are not always well defined. Additionally, mobilizing young people can be easy, but policy reform is a long term goal and it can be challenging to maintain youth engagement for the duration of a campaign.
Over the course of its history strengthening democracy through market reform, CIPE has developed and implemented proven advocacy strategies including for youth. To capture and share this knowledge, CIPE recently published its Guide to Youth Advocacy, meant to share experience and best practices for organizing youth and organizations that support youth to engage in successful advocacy initiatives. In addition to outlining strategies and approaches, the resource provides small case studies of CIPE supported projects from around the world that organized youth to advocate for real reforms.
Read the guidebook here.
Frank Stroker is an Assistant Program Officer for Global Programs at CIPE.
Marginal Revolution blogger and George Mason University Professor Tyler Cowen moderates a panel on the future of economic research, featuring Nobel laureate Kenneth Arrow.
Ronald Coase was one of the most influential economists of the 20th century. As important as his theoretical contributions was the simple but profound idea of moving away from “blackboard economics” to look at real-world problems and how institutions actually work. This is an insight that informs our work at CIPE, and which influenced many new ideas and approaches in economics over Coase’s long working life (he published his last book at the age of 101, a year before his death in 2013).
On March 27-28, the Ronald Coase Institute and CIPE honored these contributions with a conference highlighting research and policy in the Coasean tradition, featuring Nobel laureates Kenneth Arrow and Oliver Williamson, distinguished senior scholars and practitioners, and young alumni of the Ronald Coase Institute.
Governments around the world spend trillions on public procurement each year for everything from office supplies to military equipment to infrastructure megaprojects like this $5 billion Panama Canal expansion.
By Kirby Bryan
For over a decade, the World Bank Group’s Doing Business index has served as quintessential tool for determining how well a country’s institutional infrastructure is suited to the promotion of a productive business environment. But something was missing. Businesses and governments interact on levels beyond permitting and regulation: the public sector can also be a client.
Public procurement can provide opportunities for corruption. When seeking lucrative public contracts, companies look for any opportunity they can take advantage of that will improve their ability to secure a successful bid. Unscrupulous government officials can use their influential positions to attain favors and gifts from businesses pursuing public procurement tenders.
In March 2015, the World Bank Group, in conjunction with the George Washington University Law School, held a release event for the first installment of its Benchmarking Public Procurement Index.
Loss of profits and market share, diminishing brand reputation, and costly fines threaten companies that do not meet the international standards of ethics. As evident in the wake of scandals involving top brands such as Apple and Nike for example, today’s consumers are becoming better educated about overseas working conditions and the unfair treatment of workers.
As corporate social responsibility (CSR) has risen as a top priority in operations and supply chains, Software Advice, affiliated with Garner – one of the world’s leading information technology research and advisory companies – investigates “which link in the [supply] chain consumers claim to care about most.” In this report examining how corporate social responsibility impacts purchasing behavior, Software Advice assessed consumers’ willingness to pay more for ethical products. Three separate phases of surveys polled a nationally representative dataset of approximately 385 respondents.
In one survey, Software Advice asked three different groups of consumers how much more they were willing to pay for a product, normally priced at $100 that was produced more ethically with respect to a particular link in the supply chain: raw materials, manufacturing, and distribution. Respondents indicated that they would pay an average of $18.50 more if the raw materials were ethically sourced and as much as $27.60 more for a product that was made in good working conditions.